| As previously reported on this site, international law firms continue to look to expand their presence in the emerging markets, and to that end K&L Gates opened an office in Sao Paolo, Brazil earlier this week, their first offering in South America.
Their launch comes on the back of another recent move to one of South America’s biggest economies, by Davis Polk earlier this year. It comes as no real surprise that some of the big-ticket US firms are looking to expand their base into Latin America given that Brazil houses many of South American’s most notable companies, has been a significant recipient of inbound FDI and is increasingly raising its profile in the infrastructure, capital markets and international finance arenas. It also seems likely that outbound Brazilian investment will continue to gather momentum. As one of the largest key capital cities and financial centres in South America, as well as the fact that it plays host to the continent’s largest stock market, K&L Gates’ recently established presence seemingly represents a strategic and savvy move on their part. The Sao Paolo office will profit from the office’s integrated practice and from its significant resources and infrastructure. As mandated by the Brazilian Bar Association, the new office is licensed as a foreign legal consultancy. |
