Saturday, 31 October 2020

Pacheco Coto Shakes Up Legal Industry With EY Merger

EY Law challenges the legal industry. Other service firms are following the "full regional service".

EY (formerly Ernst & Young), one of the largest professional services firms in the world, will absorb prominent Costa Rica founded law firm Pacheco Coto on January 1, 2018.

Pacheco Coto announced the news this week saying the deal creates one of the larger firms in the region with a combined headcount of more than 155 attorneys spread across Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and the Dominican Republic. They will be supported by some 125 non-legal professionals.

The Pacheco Coto law offices in Santa Ana, Costa Rica. The law firm was found in 1939.

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Partners Hernán Pacheco, Alejandro Antillón, Fernando Vargas, Roberto Cordero in Costa Rica and Ruby Asturias in Guatemala are making the move to EY, according to the statements. Pacheco will lead the EY Law practice.

“We like to innovate and lead disruption with creative solutions for our clients and communities. Our purpose is to create the most successful legal and professional services firm in the region and today we reaffirm this objective by incorporating the great talent of Pacheco Coto’s partners and attorneys,” said Rafael Sayagués, the current managing partner of the tax and law practices of EY in the region.

EY has made its ambition to grow a legal offering in Central America quite clear, and earlier in 2017, it finalized the merger with its long-term legal partners Integra Legal, adding lawyers in Costa Rica and Guatemala.

Pacheco Coto was founded in Costa Rica in 1939 Humberto Pacheco Coto. and has a well-established reputation in Costa Rica, especially for international tax and asset planning.

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