Garrigues pulls plug on Latin America alliance to go alone
Iberian law firm Garrigues has decided to leave the Latin American alliance it founded in 2004 in order to launch its own offices on the continent.
The Affinitas alliance launched by Garrigues in 2004 initially included a group of Latin American firms and gradually expanded to Argentina, Chile, Colombia, Mexico and Peru.
The firm – which added that 26 per cent of its clients last year were based in the Americas - said that the move was part of a strategy to become an integrated international firm.
Garrigues is set to open its own offices in Colombia, Mexico and Peru and is also planning mergers with several local firms, including those in jurisdictions outside of the Affinitas network.
In a statement the firm said that its international strategy would not be ‘compatible’ with its membership of the Affinitas alliance.
Managing partner Fernando Vives added: ‘Garrigues holds the Affinitas member firms in the highest esteem and intends to maintain the excellent professional relations that have united them throughout this period.’