The Latin American Lawyer magazine Special Focus - Latin America July 2015 | Page 4

Special focus: Latin America

to be built from scratch.”
Veloso says he is surprised that
there is not a law firm covering
the whole of the Latin American
region. “There was an opportunity
for big Spanish firms to become a
big regional player 15 years ago,
but we now have strong Latin
American firms and growth is
expected to average 2.3 to 2.5 per
cent in all countries this year,” he
says. “It´s much tougher now for

corrupt approach.” Veloso
says: “A common mistake the
Spanish make is that we believe
that because we speak the same
language, it will be the same as
being in Spain – it´s not.”

Risking your reputation
González-Espejo says one of
the big challenges of providing
legal services in Latin America is
ensuring that client expectations
are met. “It requires
resources from head
office as you have
to deliver a deal
More Latin American
overnight, there are
firms could open in
cultural differences
Spain, but it is risky as
[in Latin America],
it is a well-established
you always need
people on the spot,
market.
we have partners
Gonzalo Barboza
in Chile and
Arochi & Lindner
Colombia and they
are supported by
additional lawyers,”
he says. GonzálezSpanish firms, but a firm like Uría
Espejo adds that in order to
Menéndez or Garrigues may try
develop this type of working
it.”
environment, associate lawyers
Barboza says that the best
from Chile and Colombia come
strategy for law firms in Latin
into Uría Menéndez and develop
America is to “understand the
several “joint training” initiatives.
clients and legal environment
He continues: “We [Uría] have
in each country”. He continues:
seven or eight partners working
“You have to adapt the rules
daily helping on the integration
and procedures as each
of Philippi, Prietocarrizosa & Uría
Latin American country is
(PPU).”
different – whereas there is
Fernández-Samaniego says that
more homogeneity in Europe.”
another challenge for law firms
However, Barboza believes there
looking to open offices in Latin
will be a pan-regional firm at
America is the protection of
some time in the future. He adds:
their reputation. “Firms
“There are more US firms opening
main task is selecting
in Mexico, it is a huge market.”
the right
López Antón argues that Mexico
is not an easy market for foreign
law firms to break into. “There
are firms there with close links to
the government and with major
clients.”
Veloso adds that people
can be “very nationalistic and
chauvinistic in Mexico”. One
people – corruption is a
partner at an international firm
big thing in most Latin
says that it is “impossible” for
American countries,”
foreign firms to do business for
he says. “The regulatory
the Mexican government. “It´s
environment is also a
a very nationalistic country,”
challenge – meanwhile,
he says. “There is a ‘mafia’ of
individual countries have other
state attorneys and we have
specific challenges, for example
been a victim of this quasiArgentina is a great source of

“

”

44 • IBERIAN LAWYER • July / August 2015

business, but there are challenges
such as currency control issues
and regulatory changes, for
example.”
López Antón believes that
finding the right partner in Latin
America in order to truly become
a local player is the challenge
facing foreign law firms that want
to open in the region. “We [Jones
Day] found the right partner in
Mexico, but it´s not always easy
[for firms] to combine and share
the same targets,” he adds.
Fernández-Samaniego says
that most lawyers in Latin
America “speak extraordinarily
good English and show good
levels of commitment”. He
continues: “We work with
partners in Brazil who have
plenty of work – it would be
difficult for foreign firms to
attract them as they don´t want
administrative burdens or
conflicts of interest.”
Veloso says the challenge for
law firms looking to capitalise on
opportunities in Latin America is
to “bet on what might happen”.
He adds: “Our challenge is that
the world has changed, the Latin
American region is now becoming

attractive, there are a lot of
investors and lawyers are looking
at them – there is room for lots of
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