The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Simpson Thacher & Bartlett has delayed its plans to launch an office in Sao Paulo
Simpson Thacher & Bartlett has delayed plans to launch an office in Sao Paulo and has scaled back the number of partners and associates being sent to its Latin American outpost.
Last year, The Lawyer exclusively revealed that the US firm had finalised plans to launch an office in Brazil to focus on capital markets, M&A and project finance.
A start date of September 2008 had been pencilled in, with New York-based partners Jaime Mercado and Todd Crider spearheading the initiative (9 June 2008).
Now it has emerged that the launch plans have been delayed due to lease complications while associate numbers on the ground have been reduced from five to three. The firm is currently residing in temporary office space in Sao Paulo. Despite market speculation, the firm has denied that the economic downturn has had any impact on its plans.
Crider told The Lawyer: “Work is much slower everywhere but, to be honest, it has allowed me to find somewhere that is appropriate. We have been actively looking at premises for some months. There were some complications and in many cases the property just wasn’t right for us.”
Despite the setback, Crider insists the official Sao Paulo office launch will go ahead later this year.
A number of US firms have launched in Brazil recently including Chadbourne & Parke, Skadden Arps Slate Meagher & Flom and Proskauer Rose.
Last year, The Lawyer reported that Skadden had lost its sole Sao Paulo partner, Jonathan Bisgaier, to Brazilian investment firm, Banking and Trading Group (11 December 2008).
To receive our free twice-weekly Lawyer in New York US legal news and comment email, click here. Or get the latest news, features and comment as it's published with our free RSS feed.