Spanish law firm Cuatrecasas has opened a new office in Chile in what the firm calls "the final milestone" of its project to become a strong legal presence across Latin America.

The firm's partners approved the opening at their annual meeting, which was held virtually April 15 because of social distancing measures to combat the spread of the new coronavirus. The firm approved a total of 10 new partners last week.

The appointment of Chilean lawyer Cristián Conejero as head of the Santiago office and member of the Cuatrecasas international arbitration practice brings the firm's total number of partners in Europe and Latin America to 225.

The decision to open in Chile predates the rise of COVID-19 and was already in motion when civil unrest broke out in Chile last year. Cuatrecasas also has a presence in Brazil, Colombia, Mexico and Peru.

Earlier in April, Cuatrecasas partners agreed to a capital call of €20 million to strengthen the firm's balance sheet amid rising economic uncertainty due to global shutdowns. That capital injection means the firm, which has more than 1,600 lawyers, won't have to tap bank credit should the downturn worsen, the firm said.

Cuatrecasas billed a record €300 million in 2019 through its 29 offices in 14 countries.

The firm's road map in Latin America has followed the expansion of the many Spanish companies operating in the region. It launched a Lima office in 2019, while independent operations began in Bogotá in January.

Plans for a Chilean outpost were laid out in Cuatrecasas' 2016-2020 strategic plan.

Spanish investment in Chile covers a wide range of industries, including banking, construction, energy, infrastructure, telecommunications and tourism, said Conejero, who joins from Chilean firm Philippi Prietocarrizosa Ferrero DU & Uria, where he spent seven years as a partner in the Santiago office.

The Chile launch marks a return to Cuatrecasas for Conejero, who was a partner there between 2007 and 2013 in Paris, Madrid and São Paulo. Prior to working with the Spanish firm, he was counsel at the ICC International Court of Arbitration in Paris.

Conejero specializes in dispute resolution and has more than 20 years of experience in international arbitration across Latin America. He has also participated in commercial arbitration cases in multiple industries and in investment arbitration involving sovereign states.

Joining Conejero in Chile is Gianfranco Lotito, who will be a partner in Cuatrecasas' litigation and arbitration practice. Lotito has experience in corporate reorganizations and resolving disputes over securities and business relationships. He also joins from Philippi Prietocarrizosa, where he spent the last three years as a senior associate.

The Chilean government said April 18 that it expects the economy to contract by 2% in 2020. The World Bank predicted April 12 that gross domestic product in the Latin America and Caribbean region, excluding troubled Venezuela, will shrink 4.6% this year.