Baker Botts becomes latest firm to move into much-coveted Rio market
Baker Botts has opened an office in Rio de Janeiro, as it seeks to grow its energy and disputes practices throughout Latin America. The Brazilian base, which will operate as a foreign legal consultancy, is the firm's first office in South America in almost 50 years, and its ninth international branch worldwide.
August 15, 2013 at 10:53 PM
3 minute read
Baker Botts has opened an office in Rio de Janeiro as it seeks to grow its energy and disputes practices throughout Latin America.
The Brazilian base, which will operate as a foreign legal consultancy, is the firm's first office in South America in almost 50 years, and its ninth international branch worldwide.
Leading the office will be energy partners John White and Hannah Longley, who will advise Brazilian clients and also assist foreign companies looking to enter the market. For local law, the firm plans to work with a network of Brazilian-qualified lawyers and their firms.
"We are always looking for opportunities to align operations," said the firm's managing partner Andrew Baker.
"Latin America is a natural area of growth for us since it touches on so many strengths of Baker Botts, including energy, project development, financing and disputes."
Earlier this year, the US outfit also sealed the hire of a 14-lawyer team from Norton Rose Fulbright in the Middle East, including eight legacy Fulbright & Jaworski partners. They joined the firm in July to be based across its offices in Dubai, Riyadh and Abu Dhabi, boosting its Middle East lawyer headcount to 40.
The hires followed several moves by the firm to ramp up its presence in the region, including signing an alliance agreement with Kuwait's International Legal Group. It now has a total of nine offices internationally, including a footprint in China and Europe, and expects to continue to grow its presence in emerging markets.
"Over the next two to three years, we see unparalleled growth opportunities in markets outside the US," added Baker. "We will continue to strategically evaluate our presence in key global markets such as Brazil."
Also launching in Brazil this year was UK firm Hogan Lovells, who additionally received a licence to practise in Sao Paulo from the Brazilian Bar Association in July. Those still eyeing the market include Dentons, Norton Rose and Paul Hastings, which are also looking to tap opportunities in the country's energy sector.
However, there are some outfits who have called time on their Brazilian operations amid faltering hopes for market liberalisation. Magic circle firm Linklaters announced in December it had ended its Brazil cooperation agreement with Lefosse Advogados, after the Brazilian Bar unanimously voted to uphold the rules for foreign firms in Brazil, which allow firms to offer international legal advice but stipulate strict demarcation between foreign and local practices.
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