DLA Piper Cross-Border Tax Group Jumps to McDermott in Miami
Like many other Big Law firms, McDermott sees the hires as instrumental to capturing more Latin American business and clients.
April 07, 2020 at 12:43 PM
3 minute read
McDermott Will & Emery offices in Washington, D.C. March 13, 2019. (Photo: Diego M. Radzinschi/ALM)
Four DLA Piper tax attorneys have decamped to McDermott Will & Emery, where they will work in the firm's Miami office.
The group includes three partners—Mike Silva, Greg Weigand and Arianne Plasencia—and one of counsel, Ryan Coyle. All four will work within the firm's tax and private client practice, which advises high-net-worth individuals and families on tax planning and investments.
Jane Wells May, global head of McDermott's tax practice, said that the pickups will help serve the firm's Latin American clients looking to invest in the United States.
"Our clients seek counsel bridging U.S. and Latin American opportunities. This team's arrival significantly enriches our growing focus in this area—particularly in the Miami market, a gateway for U.S.-LatAm business," Wells May said in a release.
McDermott is far from the first Big Law firm to capitalize on Miami's international status. Baker McKenzie has been slowly building up its Miami office for months now, which it has pitched as a "hub" between the verein's domestic offices and the hundreds of attorneys it employs in Latin America. Morrison & Foerster set up in Miami last year to help serve its client Softbank, which has already invested millions in the region since.
The move also provides support to a practice that has seen much growth. Florida's lack of a state income tax has proven enticing to high-net-worth individuals who face higher tax bills due to the tax law passed by Congress in 2017. High-profile wealthy individuals, such as billionaire investor Carl Icahn and even President Donald Trump, have since relocated to tax-friendly South Florida.
With the tax change and a growing client base, even attorneys are making the move: McDermott private client partner Melissa Price recently relocated from the firm's New York office to Miami due to increasing client demand.
All four former DLA attorneys have experience in cross-border matters, and all specialize in advising clients on the various U.S. tax and investment structures. Silva in particular has several clients from Brazil and Asia who he advises on U.S. real estate investment opportunities, according to the firm's release.
DLA Piper did not immediately respond to a request for comment on the departures.
Read More
It's Not Just Trump: Rich Northerners are Moving Their Billions (and Legal Work) to South Florida
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