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US firm Jones Day has unveiled plans to open its first office in Brazil.
Pending regulatory approval, the firm will operate as a foreign legal consultant in accordance with the Brazilian Bar Association, and will not be operating in association with any local Brazilian firms.
The office will be led by the firm’s Latin America chair and Madrid chief Luis Riesgo. He will be joined by Cleveland corporate partner Sanjiv Kapur and New York corporate partner Wade Angus.
The firm said that Jones Day São Paulo will focus on supporting clients making inbound investments into Brazil and Latin America, working with local independent firms and providing legal counsel to Brazilian companies in their international operations.
The main practice areas will be cross-border M&A, private equity, banking and finance, energy and capital markets. Jones Day managing partner Stephen Brogan said: “With Latin America’s largest and deepest stock market, massive inbound investment and soon-to-be-massive outbound investment, Brazil has been identified by many clients as central to their global strategy. It’s the biggest market in the world where Jones Day doesn’t have a presence, and its importance will only increase in future years, making Brazil an ever more important economy for our clients.”
Riesgo said: “We feel that having a physical presence in Brazil would allow us better to serve our clients, and my relocation to São Paulo underscores Jones Day’s commitment to serve them in Brazil and Latin America.”
Risego will be replaced as Madrid head by Mercedes Fernández, who currently chairs the office’s international litigation and arbitration practice.