Sidley Austin has snagged a Latin America-focused corporate partner and associate from Morrison & Foerster as the Am Law 20 firm bulks up in Miami.
Partner Juan Delgado and associate Axel Miranda join the firm’s global M&A and private equity practice. After months of lateral hiring in South Florida, Sidley Austin formally announced its Miami office this week as it signed a lease for a large Miami office, stating that it has over 40 lawyers there.
A spokesperson for Morrison & Foerster said the firm wishes them well.
Delgado and Miranda were part of a large group of Miami-based lawyers that jumped in 2019 from Greenberg Traurig to Morrison & Foerster, when Morrison & Foerster launched a Latin America practice.
Another former Greenberg and Morrison & Foerster partner, Alexandra Aguirre, joined Holland & Knight in June, where fellow Greenberg and Morrison & Foerster alumni Enrique Conde had already migrated.
Delgado, who is a Miami native, advises domestic and international corporate clients on a wide range of mergers and acquisitions, securities offerings and financing transactions. Much of his practice is in Latin America and cross-border focused.
Latin America faces a tough deal market as the U.S. economy slows and a growing number of less business-friendly leaders in the region scare off foreign investors.
But Sidley sees potential. Brian Fahrney, global co-leader of the firm’s global M&A and private equity practice and a member of Sidley’s management and executive committees, said Delgado’s experience handling deals and working with clients in Latin America will boost the firm’s broader M&A and private equity practice.
“Juan is another example of capitalizing on our new presence in Miami to help identify and attract world-class talent to the firm,” Fahrney said in a statement.
Yvette Ostolaza, Sidley’s management committee chair, said Delgado’s experience with cross-border deals will be a great addition to the firm’s growing team in South Florida. She also noted that Delgado and Miranda have worked together successfully on major matters, which should help facilitate a “seamless transition” to the Sidley platform.
Sidley’s private equity practice boasts more than 285 lawyers around the world. All told, Sidley employs more than 2,100 lawyers and generates annual revenue in the neighborhood of $3 billion.
Miami has become a desirable destination for elite global firms as clients migrate to the Sunshine State in search of lower taxes and a better quality of life. Law firms have been following clients there, and are taking advantage of the city’s role as a gateway to Latin America to boost their Latin America practices.
King & Spalding launched a Miami office in January of this year, and both Winston & Strawn and Kirland & Ellis opened offices in the city in May.