According to the Brazilian magazine Exame, some fields of law have proven to be more popular and lucrative than other areas for young Brazilian law grads as well as seasoned attorneys. Although the financial crisis and ensuing recession have left some out of work, other professionals are cashing in. Here are two legal specialties that have Brazilian lawyers taking a second look.
This specialty has been the economic engine for a number of firms in recent years. The economic downtown has led to a sharp increase in companies encountering financial difficulties, which has generated new opportunities. Attorneys who work in this field help companies reorganize and negotiate their debt in order to emerge from bankruptcy protection. Brazil’s financial crisis has led to a jump in the number of companies seeking protection from creditors.
Compliance as a legal field in Brazil was once dominated by criminal lawyers whose scope of practice was mostly limited to waiting around for a complaint to be filed before fighting back. However, young lawyers view compliance as an emerging, high-growth field with lots of potential. The idea of compliance as a distinct practice area has been around in the country for around a decade, but the scandals surrounding Operation Car Wash have made the specialty increasingly relevant.
Ricardo Tosto is an attorney with decades of experience in Sao Paulo. He is the founder of one of Brazil’s most respected firms, and is extremely active in the legal community as a mentor and teacher. After earning a degree from Sao Paulo’s McKenzie Law School, Ricardo Tosto went on to build his firm into a powerhouse boutique firm. According to Tosto, he regards his staff and partners as members of a large family.
In addition to being a respected lawyer, Ricardo Tosto is also a historian, with a number of publications about Brazilian history to his credit. A voracious reader, he believes that staying up-to-date with the law is essential to being an effective practitioner. Ricardo Tosto often takes and teaches continuing education courses to keep abreast of new developments.