November December 2016 Iberian Lawyer | Page 11

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New data shows that headcount was up at the major firms in the last year , and while the total number of lawyers was up only slightly , partner numbers grew more significantly

Headcount at Portugal ’ s ‘ Big Three ’ law firms – PLMJ , Vieira de Almeida ( VdA ) and MLGTS – increased significantly in the last year as they sought to meet significant demand for litigation , finance and real estate-related advice , new data collated by Iberian Lawyer shows .

The 11 largest firms in Portugal now have a total of 1,646 lawyers , only marginally up on the 2015 figure of 1,641 . However , though these numbers suggest that the prospects for aspiring lawyers that want to break into the legal profession are improving only very slightly , data on partner numbers indicate that , for those who do join a law firm , the chances of becoming a partner are improving . The figures show that the leading firms now have more partners – the 11 biggest firms currently have a total of 285 partners , up 6 per cent from the previous year ’ s total of 268 .

PLMJ remains the largest firm by headcount with 292 lawyers , but VdA has continued its dramatic growth and has now overtaken Abreu Advogados to become the second-largest law firm in Portugal in terms of lawyer numbers . Of the major firms , VdA experienced the most significant growth in 2016 with headcount increasing 11 per cent to 233 . The firm reports that its M & A , banking , real estate , litigation and oil and gas practices have been “ stand-out ” performers in the last year . Speaking earlier this year , managing partner João Vieira de Almeida also suggested that clients were becoming more inclined to shop around for legal services . “ It is now much more transparent , a level playing field where firms compete for clients who put aside decades-old alignments to look for the quality and price that suits them better ,” he said .

Portugal ’ s largest law firm

PLMJ increased its headcount by 9 per cent in the last year . The firm has highlighted the finance , real estate and tourism sectors as being significant drivers of growth in the last year . The firm ’ s managing partner Luís Pais Antunes says : “ The increase in the number of lawyers is part of our strategy to continue to position ourselves as the Portuguese firm with the greatest capacity of response , as well as being a response to market demand .” In the last year , PLMJ recruited Diogo Perestrelo from Cuatrecasas , Gonçalves Pereira . Other key market moves included Jorge Brito ´ s move from PLMJ to Uría Menéndez-Proença de Carvalho .

Foreign growth vital Meanwhile , headcount at MLGTS went up 3 per cent in the last 12 months , meaning the firm now has 200 lawyers , making it the thirdbiggest law firm in Portugal by headcount . The firm ’ s managing partner Nuno Galvão Teles explains that much of MLGTS ’ recent growth has been attributable to its international practice . “ The domestic [ Portuguese ] market is not growing much , but in Africa and Macao , where we are a market

Portugal ’ s largest law firms

Firm Partners Total lawyers

leader through our network of local firms – called MLGTS Legal Circle – business is going very well ,” Galvão Teles says ( see Law firm profile , page 18 ).

The data also shows that Uría Menéndez has now assumed Cuatrecasas Gonçalves Pereira ’ s position as the largest Spanish law firm in Portugal . Headcount at Uría Menéndez-Proença de Carvalho increased 8 per cent in the last year to 114 , while the number of lawyers working for Cuatrecasas , Gonçalves Pereira in Portugal fell to 107 , a decrease of 3 per cent . Explaining the growth at Uría Menéndez-Proença de Carvalho , managing partner Duarte Garin says : “ The increase in the number of lawyers is the result of a steady increase in the volume of work in practically all areas of practice but more noticeably in litigation , M & A and tax .”

The firms reporting the biggest decreases in lawyer numbers were Miranda and Abreu Advogados . Headcount at Miranda stands at 139 , down 22 per cent on last year ’ s figure , while Abreu Advogados has a total of 184 lawyers , a fall of 15 per cent on last year ’ s total . Miranda explained its drop in headcount by saying that the previous year ’ s figures had included lawyers working in its operations in Francophone Africa , but this year ’ s number did not .

Change in lawyer numbers in last year

PLMJ 55 292 up 9 % VdA 37 233 up 11 % MLGTS 55 200 up 3 % Abreu 28 184 down 15 % Miranda 18 139 down 22 % Uría Menéndez 17 114 up 8 % Cuatrecasas 27 107 down 3 % Caiado Guerreiro 8 103 no change AVM 10 95 * no change SRS Advogados 19 103 up 10 %

* Figures are for 2015 , firm declined opportunity to provide more up-to-date figures

www . iberianlawyer . com November / December 2016 • IBERIAN LAWYER • 9