Law firm profile
approached by other firms about the possibility of merging . “ When we were established , there were only around three or four Anglo- Saxon firms in Spain , but since then , all the major Anglo-Saxon firms have opened ,” Rueda says . “ Many have offered us the possibility of joining them , but we ’ ve always said ‘ no ’ – every time we have considered it , but we enjoy the freedom of decision-making , we want to enjoy a better life though we may not bring so much money home .” Rueda declines to confirm which law firms have approached Araoz & Rueda down the years , but it is believed that Linklaters and Ashurst are among the firms that have been suitors in the past .
Nurturing talent In regard to day-to-day operations , Rueda says that the firm does not have a managing partner . “ We can ’ t afford to have one partner exclusively focusing on management , so each partner plays a role ,” he adds . “ We have partners who are responsible for different areas such as
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We marketing , accounts , office management , knowledge management and recruitment .” Rueda says that , every Monday , all of the firm ’ s lawyers meet : “ It ’ s easy for everyone to gather together for a 15-minute session on matters for the week .” He adds that the firm has a quarterly partner meeting , though the partners rarely vote with the preference being for all the partners to reach a consensus . Is such a structure workable in the current climate ? “ As long as we remain our current size , it will be feasible , but if we grew to 25 partners , for example , maybe we would reconsider ,” Rueda says .
Rueda claims that one of the firm ’ s biggest strengths is the way it nurtures its young talent . “ We are well known for preparing and training associates well – other law firms constantly poach our lawyers ,” he adds . Indeed , earlier this year the departure of partner Francisco Aldavero , who had been with Araoz & Rueda for 20 years , was confirmed . Aldavero , whose expertise includes private equity , corporate and M & A , left for EY Abogados . However , Rueda says the firm is now in the process of recruiting new lawyers . “ We want to reinforce the private equity practice and we will also hire M & A , banking , energy and antitrust associates ,” he adds .
Hands-on approach The firm has already made a significant move to bolster its real estate practice with the hire of Baker & McKenzie partner Jesús Conde . A partner at Baker & McKenzie for seven years , Conde ’ s expertise includes real estate acquisitions , office and retail leases , sale and leaseback structures and construction and developmentrelated projects . “ The real estate market is recuperating and we have been doing deals ,” says Rueda .
Does the firm have any targets in terms of growth ? “ Companies and law firms often talk about growth , but in our management meetings we ’ re talking about quality and wondered in the middle of the crisis whether our template makes sense , but we have remained profitable .
Pedro Rueda , Araoz &
Rueda ”
service – we ´ re concerned about maintaining that ,” says Rueda . “ We enjoy being hands-on and we enjoy the contact of the client – we have grown and we will probably grow in the next year .” Rueda rules out the possibility of the firm moving into completely new practice areas . “ It ’ s difficult to change the perception the client has [ of a firm ],” he says .
The personal touch With reference to the Spanish legal market as a whole , Rueda says “ all firms are doing very well ”. He adds : “ There ’ s been plenty of activity , not only in Madrid , but also in other areas such as Barcelona and Valencia .” Is Spain ’ s political uncertainty negatively affecting law firms ’ workflow ? “ It ’ s having an impact on firms with clients in the construction and infrastructure sectors , as they are dependent on government funding ,” Rueda says .
Rueda believes the big challenge facing the firm in future will be maintaining the same level of service to clients . “ We are permanently connected to our clients – personal relationships are still important ,” Rueda argues . He adds that the firm has a bright future and still has plenty to offer young people looking for a career in the law . He says : “ We remain attractive to younger lawyers because we are a smaller firm with more ambience , and we will keep recruiting .”
Araoz & Rueda fact file
Partners : 10 Lawyers : 30 2015 Revenue : € 5.6 million www . iberianlawyer . com September / October 2016 • IBERIAN LAWYER • 21