The deal, finalised last month, will see both firms remain independent in accordance with Brazilian bar rules. According to the Am Law Daily, Haynes and Boone lawyers will not practice Brazilian law.
Cultural reasons
Haynes and Boone director Timothy Powers, who oversees the firm's international practice, said that the firms first began to discuss the link up 18 months ago. He added that the firms wanted to be sure that the agreement was right for both ‘cultural’ and ‘strategic’ reasons.
According to the report, MMA Lawyers has just five lawyers, but Mr Powers said the firm is making additional hires to bring its head count to 11.
Texas
Haynes and Boone – which already has an office in Mexico City in addition to bases in Texas, New York, and Washington DC - had gross revenues of $312.8 million last year, a 3 per cent increase over 2011. Revenue per lawyer was $640,000 and profits per partner were $780,000.
Email your news and story ideas to: [email protected]
