Major Firms Opening in Brazil, ‘the New Middle East’
Posted Jun 9, 2008 2:45 PM CDT
By Martha Neil
Two New York-based international law firms are the latest to announce that they are opening offices in Brazil, billed as "the new Middle East" by a legal publication.
A boom in mergers and acquisitions, capital markets and infrastructure projects is driving the deluge of new law office openings, most recently by Chadbourne & Parke and Simpson Thacher & Bartlett, reports the Lawyer. And "the signs are that there is a growing list of other firms looking for a hat peg to join those firms that have opened in recent years—a roster that includes Proskauer Rose, Mayer Brown and Shearman & Sterling."
Allen & Overy, based in London, also recently announced plans to establish an office in Brazil.
Reuters: "Brazil's creaking justice system slow to reform"