Skadden loses sole Sao Paulo partner
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Skadden Arps Slate Meagher & Flom's only Sao Paulo partner has defected to Brazilian investment firm Banking and Trading Group (BTG) months after the firm launched in the city.
Partner Jonathan Bisgaier will join BTG at the end of this year. Skadden launched in Brazil in July this year and has been the only partner in the office since.
Bisgaier's departure will leave the office with a team of seven associates and no on the ground partner presence.
New York-based partner Paul Schnell will continue to lead the Latin America practice for the US firm.
The defection comes after a number of US firms have launched in Sao Paulo this year. Earlier this year The Lawyer reported that Simpson Thacher & Bartlett partners Jaime Mercado and Todd Crider spearheaded the firm's new office in Sao Paulo (9 June).
Bisgaier's recent deals include representing Banco Pactual in its $3.1bn sale to UBS and its joint venture negotiations with Goldman Sachs. Bisgaier also provided general corporate advice to a number of leading Latin American companies such as Grupo Vitro, Grupo Gigante and Jugos Del Valle.
Skadden was unavailable to comment.
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