Which law firms were the most popular during the pandemic?
During the pandemic, the support of external counsel has been essential to businesses navigating choppy waters. We present a breakdown of our latest Who Represents Latin America’s Biggest Companies? research, highlighting the most popular firms across the region and hearing from them about how they have seen client-law firm relationships and expectations change over the past 12 months.
According to Mauricio Olaya, M&A practice head at Muñiz, Olaya, Meléndez, Castro, Ono & Herrera, one of his firm’s key takeaways from the pandemic is the importance of empathy when it comes to negotiating fees with clients. During this period, the firm opted to adapt to the “reality of its clients” through fee reductions, payment facilities and other arrangements. “We wanted to make them feel that we aren’t just their lawyers, but also that we cared about their business as their partners,” says Olaya. Muñiz Olaya adjusted its fees, “sharing with clients the tough reality they were facing.” It is a risk that paid off, says Olaya. “By the end of the year, our data showed that we passed our historical record of attracting new clients to the firm, which allowed us to progressively close the gap in our internal adjustments to break even.” From our research this year, Muñiz Olaya’s clients include German chemicals group BASF, InRetail Peru and Mexico’s Arca Continental.