Law firm xxxx profile
Gaining momentum
As arbitration begins to take-off in Miami , while the proliferation of whitecollar crime in Latin America continues , Diaz , Reus & Targ is seeking to build on its existing strengths with new office openings
In the fiercely competitive market for legal services , Miamiheadquartered Diaz , Reus & Targ looks to be a firm that has positioned itself well . With the city ’ s reputation as a seat for arbitration on the rise , and white-collar crime cases increasing throughout Latin America – a region where the firm boasts 11 offices – the firm looks well positioned to capitalise on those two major areas of growth .
Miami rarely used to be considered as a place to arbitrate , but clients ’ perceptions are changing . “ Miami has grown a lot in terms of arbitration ,” says Marta Colomar García , the firm ’ s administrative managing partner . “ It was not a location typically chosen to arbitrate , but that has changed over the years , to the point that there has been a successful initiative to create a specialised court as part of Florida ’ s state court system that hears issues related to international commercial
arbitrations seated in Miami .” The growth in the firm ’ s workload in recent years is due to the fact that , globally , “ these are very complicated times ,” says Colomar García . She is referring to the fact that white-collar crime cases are on the rise in Latin America . “ Over the last three years , white- collar crime has been the major driver of growth for us , due to the alleged proliferation of moneylaundering schemes , in countries such as Venezuela , which makes our regional presence in Latin America very important .”
Colomar García says the firm has partners whose experience spans decades , adding that Diaz , Reus & Targ has acquired a reputation that has proved attractive with clients , which include companies such as Pemex , Fujitsu and Sony . For example , the firm ’ s global managing partner Michael Diaz has more than 30 years ´ experience as a litigator , while his asset-tracing expertise has resulted in millions of dollars in recoveries for US clients .
Though Diaz , Reus & Targ is relatively modest in size – with around 100 lawyers in total – Colomar García says that it frequently comes up against much larger law firms in cases . “ We are not a big law firm , but we regularly litigate and compete with them for business ,” she says . “ We are full-service , but we started out as an arbitration and litigation boutique , and that still remains our forte – we have expertise in other areas , but our main focus is still arbitration , litigation , and whitecollar crime .”
When it comes to dealing with clients , Diaz , Reus & Targ is a firm that has a strong belief in exhibiting the personal touch , according to
Sanctions work , they are a powerful tool , I don ’ t know how much more the [ Venezuelan ] government can take . Marta Colomar García , Diaz Reus & Targ
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Colomar García . “ Our clients are not just clients , they become our friends ,” she explains . “ Clients have a personal relationship with the attorneys whereby they can pick up the phone and call a lawyer they trust at any time – we also offer global reach with an understanding and grasp of the local market , given that we have offices around the world and are located where our clients conduct their business .”
Latin America generates around 90 per cent of Diaz , Reus & Targ ’ s revenues , though the firm does not disclose financial information . However , the firm does confirm that it has experienced an increase in work related to arbitration , litigation , and criminal investigations as well as corruption defence work , bribery and money laundering cases . In addition , the firm also reports an increase in matters concerning the Foreign Corrupt Practices Act , the Bank Secrecy Act , as well as other US law violations . Particular areas of specialisation for Diaz , Reus & Targ include fraud , asset investigations , regulatory and corporate investigations , governance and compliance , blockchain and cryptocurrencies , sovereign trade , commerce , real estate , banking , financing , and capital markets .
The firm represents a wide array of clients , acting for multinational corporations , import and export companies , manufacturers , technology companies , government entities , political parties , public officials , financial institutions , entrepreneurs and family offices , as well as high net worth individuals . Among the clients that have been represented by Diaz , Reus & Targ are Nissan and Dubai Islamic Bank .
Crisis-ridden Venezuela is a key market for the firm . This is largely due to the political and economic turmoil that has engulfed the country , which has also had sanctions imposed on it by the US government . “ The country is essentially financially illiquid ,” Colomar García says . “ The economic sanctions imposed by President Donald Trump are making life very difficult for the current government – consequently , our practice there has transitioned from litigation , arbitration and corporate advice , to white-collar issues .” The firm ’ s work related to white-collar crime is booming . “ Our white-collar crime department has grown exponentially as we assist people who are navigating their way through economic sanctions and being put on a blacklist where nobody can do business with them ,” says Colomar García .
Diaz , Reus & Targ has a wellestablished reputation in the Venezuelan market having worked there for decades and built up considerable experience , Colomar
16 • THE LATIN AMERICAN LAWYER • September 2018 www . iberianlawyer . com / latin-america