Gibson Dunn sharpens its transactional bet in Madrid
Armando Albarrán is leading an office focused on big-ticket deals and on-the-ground execution. The firm expects to close its first year with around 15 professionals tied to the Spain project and to strengthen key areas such as public law, regulated sectors and tax
by ilaria iaquinta
Gibson Dunn did not come to Spain to be just another firm. The Madrid office, announced in January and led by Armando Albarrán, is built around a precise idea: to compete at the top end of the transactional market with a proposition that combines international access with local execution, delivered by a tightly focused team working on complex deals. It is not looking to build a traditional full-service platform, but to occupy a very specific space in the market. “My thesis is that there is room for a small group of lawyers very focused on large transactions, or complex transactions, and very focused on client service”, Albarrán tells Iberian Lawyer.
The market, he acknowledges, is not limitless. Spain does not have the deal volume of the United States, he says, but it does have a sufficient base to justify an office with a premium ambition. “The number of transactions of this type in Spain may be around 20 to 30 a year. It’s not a huge market, but it’s big enough to justify opening an office”. The strategy, he adds, is not built around anything complicated: “quality, quality, quality; execution; the best lawyers working for the best clients on the best deals”.
THE INITIAL TEAM
The Spain office is launching with a group designed to cover the core of major transactions. Alongside Albarrán, the initial team includes Alfonso Bernar, Asís Martín de Cabiedes and Reka Palla, of counsel from Uría Menéndez, Freshfields and A&O Shearman respectively; and associates Mario Pacini and Alberto Broseta. The set-up combines a Madrid presence, a Barcelona presence (Steve Melrose, focused on international litigation and compliance) and support from London partners with regular involvement in Spanish deals, including Federico Frühbeck and Hugo Hernández-Mancha. The front line is geared towards M&A, private equity, infrastructure, public M&A and capital markets.
The logic is not growth for growth’s sake, but assembling profiles capable of working on complex transactions from day one. “What we have looked for is a model of excellence”, he says. “Excellence in legal service is a combination of knowledge, experience and dedication”.
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