Broseta has two beginnings. It was founded in 1975 by celebrated Spanish law professor and politician Manuel Broseta.
He was assassinated by Basque independence group Eta (Euskadi Ta Askatasuna) in 1992. Three years later Broseta’s son Manuel junior left the Madrid office of Spanish leader Uría Menéndez to restart the firm. In the interim the partners had kept the firm going but Broseta decided to restart the practice in a new style, aiming to use a similar model to Uría but in Valencia.
The firm now has 85 lawyers in Valencia and Madrid, and 13 partners. In 2010 it turned over e14.2m (£12.5m), with profits of just over e2m.
Valencia remains Broseta’s largest office, but Madrid partner Julio Veloso says the focus is on developing Madrid. That office was opened in July 2007 and recruited heavily throughout 2009, picking up teams from Baker & McKenzie, Cuatrecasas Gonçalves Pereira and Rodés & Sala.
“We all hope the Madrid office will become bigger than Valencia,” says Veloso.
That said, the firm is looking further afield too. Client demand means Broseta is considering its options in Barcelona, Spain’s second-largest commercial centre after Madrid.
“This isn’t such a big country that you can’t cover either of the two cities by just being in one,” notes Veloso. “But due to the peculiarities of the market,
if you really want to do something important in Barcelona you have to be there.”
Beyond Spain, Broseta is seeking to forge alliances with similar firms in Europe, the UK, the US and Latin America. Talks are progressing with firms from a number of jurisdictions to find the right partners.
While Veloso says the firm is determined to remain independent, he adds that it recognises it needs an international network in competitive times.
Managing partner: Manuel Broseta
Turnover (2010): e14.2m (£12.3m)
Number of partners: 13
Number of equity partners: Three
Number of lawyers: 85
Number of offices: Two
Locations: Valencia, Madrid
Main practice areas: Administrative law, bankruptcy, commercial, employment, finance, litigation, private equity, sports law, tax, urban development
Key clients: Dragados, Ford, Grupo ACS, Vueling