Legal Business

Hunting El Dorado – Iberian firms keep their eyes on prizes at home and abroad

Iberian firms have experienced startling growth in Latin America in recent years. But in the quest for adventure, have they kept home fires burning?

A year ago, Spanish leader Garrigues unveiled its fifth office in Latin America, adding Chilean firm Avendaño Merino to its existing outposts in Brazil, Colombia, Mexico and Peru. And, as the most expansive Iberian practice in the region, there is undoubtedly pressure to prove the strategy effective. Fortunately, Garrigues has seen startling 81% revenue growth to €18.6m in the region in the last 12 months and expects to generate €30m from Latin America in 2017.