Lending markets

Holland & Knight recruits a team of 4 for DLA Piper Capital Markets in Mexico

Holland & Knight has recruited a team of four capital markets lawyers to Mexico City from DLA Piper as the firm continues to target selective growth in Mexico.

Capital Markets Partner Xavier Mangino joins longtime colleague and senior counsel Elena Ibarrola and partners Adolfo Obregón and Alejandro Briceño Suárez. The team also includes two paralegals.

Mangino joined DLA Piper in 2018 after decades as a partner in boutique company Díaz de Rivera y Mangino.

The move by Mangino and his team follows DLA Piper’s January recruitment from White & Case of an interdisciplinary group of attorneys, one of whom was named co-partner associate director of DLA’s Mexico office.

Law.com International has contacted DLA Piper for comment.

In addition to representing major Mexican and multinational public clients in their operations in Mexico, the United States and Europe, Mangino sits on the boards of several private and publicly traded companies, including Alsea, which oversees fast food brands such as Starbucks and Domino’s Pizza in various Latin American and European countries.

“We are delighted to have Xavier and his team join our Mexico City office as part of continued and focused growth of our practice capabilities in Mexico,” said Luis Rubio Barnetche, Executive Partner of Holland & Knight’s Mexico City office.

“Xavier is recognized and highly valued by the General Counsel of Mexican SOEs, as well as by Mexican regulatory authorities,” added Rubio Barnetche.

Roberto Pupo, head of Holland & Knight’s Latin America practice, said Mangino’s team perfectly complements the firm’s existing cross-border capital markets and corporate finance practices.

“We also see opportunities for our new lawyers to collaborate with our New York-based capital markets practice, providing a full-service component that sets us apart from our competitors and should be very attractive to large Mexican companies,” added Pupo.

Mangino’s practice involves representing corporations in connection with debt and equity capital markets, foreign investments, mergers and acquisitions and financing matters, including structured finance, leveraged finance leverage and general financial transactions.

“I am confident that my team and my clients will thrive with our move, despite the challenges presented by the current Mexican economy,” Mangino said.

Mexico’s economy has struggled to attract investment and grow since the 2018 election of President Andrés Manuel López Obrador, who repeatedly battled with the private sector while consolidating power and demonstrating what critics describe as an authoritarian tendency.

Holland & Knight has more than 50 lawyers based in Mexico, having expanded its team there by 13 lawyers and added an office in the northern industrial hub of Monterrey via the firm’s 2021 merger with Thompson & Knight.

Elena Ibarrola, who has worked with Mangino for nearly 20 years, said Holland & Knight’s “impressive reputation” in Mexico was a major factor in the team’s decision to migrate.

“The growth of its offices and the quality of representations were certainly factors in the decision to join,” she said.

Ibarrola represents issuers and financial institutions in connection with debt and equity issues, and advises clients in the negotiation, structuring and drafting of commercial loans and other complex financings. She also advises issuers and their boards of directors on reporting and other obligations under Mexican laws and corporate governance.