Andersen in Iberia has plans to double its size over the next three years. The law firm operating in Spain and Portugal will close this year with around €52 million in revenue, Andersen Iberia’s managing partner José Vicente Morote disclosed to Law.com International in an interview. The firm’s next goal is to reach a revenue of €100 million in three years.

Andersen wants to “break the roof and to have no limit to the services we can deliver to top tier firms in Spain,” said Vicente Morote. “We must have the best professionals to be able to do so.” Through new hires and an improving client portfolio, the firm has already more-than-doubled its revenue since 2020, when it brought in €22.5 million.

In recent months, the law firm brought on four partners in Spain: two tax partners in Madrid, another in Seville—with a team of four lawyers—and a banking and finance partner also in Madrid. This rapid growth in personnel culminated in the integration of a more-than-30-person law firm called DAYAAbogados, which was brought on to improve Andersen’s tax practice in Madrid, Vicente Morote said. Two partners—one in tax and one in M&A—joined Andersen from DAYA as partners. Twelve professionals joined the tax area in Madrid, and the firm’s total headcount in Spain now exceeds 320.

More than a third of Andersen’s revenue in Iberia comes from its tax area, according to Vicente Morote. A focus of Andersen’s next strategic plan, which Vicente Morote will present to his colleagues by the end of this year, will be to further improve the firm’s tax practice across Spain.

An independent member of Andersen Global operating as one law firm across Spain and Portugal, its main practice areas—besides tax—are M&A, litigation, public and regulatory law, which make up more than 15% of the firm’s revenue, and real estate, according to Vicente Morote.

The firm serves at least a dozen of the 35 most traded companies in Spain, one of which is Banco Santander, according to Vicente Morote. In 2023, revenue in Spain—where Andersen operates in Madrid, Barcelona, Valencia, Seville and Malaga—will reach around €49 million, the managing partner said, adding that Andersen is considering the possibility of opening a new office in the north of Spain.

The firm’s Portuguese operation, run out of Lisbon and integrated into the Andersen Iberia structure in 2021, will bring in around €3 million this year, tripling its revenue over the past two years, according to Vicente Morote. The managing partner, who also serves as Andersen’s European legal coordinator and as a member of the firm’s global board, said part of the strategic plan is to grow the firm’s practice in Lisbon.

Andersen recently inaugurated a new headquarters in the Portuguese capital twice the size of its previous one, with plans to hire more personnel. In the autumn Andersen in Portugal also saw the addition of Bernardo Silveira as a senior associate to coordinate its real estate department.

The Iberian firm is an independent member of the global Andersen operation that has more than 400 locations in 174 countries, 40 of which are in Europe.

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