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Top two Spanish firm Cuatrecasas posted record revenue for the 2022 financial year, rising 4.7% to just under €353m, concluding a difficult year for the firm following the death of managing partner Jorge Badía last July.
The firm’s growth was supported by significant revenue increases in Latin America – where it operates in Chile, Mexico, Colombia and Peru – with a 38% uptick compared to 2021, while its Portuguese business grew by almost 20%. That was supported by its integration with Portuguese firm Serra Lopes, Cortes Martins & Associado (SLCM) last November. Cuatrecasas’ Spanish operations accounted for the bulk of revenue, increasing 1.8% to €292m.
Its corporate department accounted for the largest share of revenue (44%), followed by finance and tax (26%), litigation and arbitration (22%) and labour (8%).
Despite a pandemic-era blip where revenues fell 0.3%, the Spanish firm has now grown revenues by more than 42% since 2017 – a cumulative increase of almost €105m.
Javier Fontcuberta, who was appointed Cuatrecasas’ managing partner in December, said: “These are very good results, in line with the trend established in recent years. After a complicated year for the entire Cuatrecasas family, which has seen us come together more than ever before, we continue to work to offer the best solutions regardless of geographical barriers, while always seeking to anticipate our clients’ needs.”
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The firm has grown its lawyer headcount by 6% since last year’s results announcement, with 1,256 lawyers across its 27 offices around the world. It has also grown its partnership by almost 10% to 251. That included two partner hires last July in Mexico and Peru as part of its efforts to build out its Latin American practice. Earlier this year it also absorbed Mexico City-based transactions and disputes boutique Rico Robley y Libenson (RRL), a move that included the addition of four partners and 12 lawyers and support staff.
Meantime, top ranked Spanish rival Garrigues last month said its revenue increased 7% in 2022 to €443m – also a record. That was supported by a 6% increase in its Spanish operations, totalling €386m.
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