Mexico

In October 2024, Claudia Sheinbaum took office as Mexico’s first female president, marking a new chapter for the ruling Movimiento de Regeneración Nacional (Morena). Her decisive win, built on continuity with the policies of previous incumbent Andrés Manuel López Obrador (AMLO), has given her political capital and raised expectations that her government would tackle long-delayed reforms while keeping investors onside.

In addition to her efforts in security, healthcare and renewable energy, judicial reform became a key focus of Claudia Sheinbaum’s early tenure. One of the most notable changes in this area was the proposal to introduce elected judges, a reform that had broad support within Morena and was seen as part of a larger push to address issues of corruption and lack of accountability in the judicial system. The idea of electing judges at various levels aimed to increase transparency and reduce the influence of political elites and powerful interest groups. Nonetheless, critics argue that it could severely politicize the judiciary and create legal instability, deterring investment due to concerns over arbitrary rulings influenced by popular sentiment.

Other key policy initiatives include Plan México, which aims to increase domestic production, energy sovereignty and strategic sector investment; and public procurement reform introduced in April 2025. The government has also restructured critical infrastructure entities such as CFE and PEMEX while maintaining state control with limited private participation. Mexico’s economy continues to benefit from the nearshoring boom, though challenges are intensifying. Geopolitical tensions, regulatory uncertainty and water and energy constraints have slowed some development projects. Growth is uneven, with productivity concentrated in export-heavy regions, while southern states lag. The country has faced a sovereign rating downgrade, reflecting economic uncertainty in the context of threatened US tariffs and broader North American instability.

Nonetheless, foreign direct investment hit record levels in 2025, fuelling demand for industrial real estate, logistics, and corporate and M&A work. Structured finance and bond market activity remain robust, while fintech, venture capital and green financing continue to expand. Compliance work has surged due to new anti-money laundering expectations and the FTO designation of cartels. For Mexico’s corporate, private-practice legal community, the overall mood is one of guarded optimism. Firms continue to see robust transactional, restructuring, compliance and disputes activity as they navigate evolving regulatory and geopolitical conditions.

Looking directly at the law landscape in the country, the market continues to be dominated by the ‘Big 5’, with full-service giants Creel, García-Cuéllar, Aiza y Enríquez, S.C. and Galicia Abogados S.C. leading the pack; Nader, Hayaux y Goebel, SC, Mijares, Angoitia, Cortés y Fuentes S.C. and Ritch, Mueller y Nicolau, S.C. rounding out the group. These firms continue to set the standard across high-value transactional work, complex litigation and regulatory matters, maintaining impressive client rosters across both the public and private sectors.

Alongside these dominant players, a number of highly respected firms maintain strong positions across key practice areas. Greenberg Traurig, S.C. and Von Wobeser y Sierra, SC are widely recognised for their strengths in corporate and M&A and competition and antitrust. International firms with deep local integration – such as Baker McKenzie Abogados, S.C., Hogan Lovells and White & Case S.C. – remain active across cross-border transactions and regulatory matters. Domestic firms like Santamarina y Steta, Pérez Correa González and Sainz Abogados continue to perform strongly. Santamarina y Steta is particularly noted for its expertise in labour and employment matters, while Pérez Correa González and Sainz Abogados are both recognised for their strength in bankruptcy and restructuring work. Established players Holland & Knight México, S.C., Basham, Ringe y Correa, S.C., Jones Day and Chevez Ruiz Zamarripa also retain a healthy market share and profile.

Vázquez Tercero & Zepeda and SAI Derecho & Economía S.C are longstanding names for international trade matters; as are Arochi & Lindner, SC, Olivares and Uhthoff, Gómez Vega & Uhthoff, SC in IP; Bello, Gallardo, Bonequi y García, S.C. for compliance and data protection; Del Castillo y Castro Abogados or Guerra, Hidalgo y Mendoza (GHM) for bankruptcy and restructuring; Malpica, Iturbe, Buj y Paredes, S.C. for dispute resolution; and Turanzas, Bravo & Ambrosi and C&C Asesores for tax.

The dust is beginning to settle on two major legal market shake-ups from summer 2024, both driven by Spanish firms expanding their footprint in Mexico. Pérez-Llorca entered the market via merger with González Calvillo, a well-established local firm with broad practice coverage. Meanwhile, Garrigues significantly boosted its presence by absorbing Sánchez Devanny, known for its strong banking, finance and tax groups. Mayer Brown Mexico, S.C. closed its Mexico City office in October 2024 (following the parent firm’s decision to leave the local market), with all but one of its members recombining to form Fernandez, Garcia-Naranjo, Boker & Garibay, S.C. Further headline news saw confirmation in January 2025 that Martínez, Algaba, de Haro y Curiel had merged into Creel, García-Cuéllar, Aiza y Enríquez, S.C. – radically deepening the latter’s contentious ability, particularly as regards administrative, commercial and civil litigation. On the international front, ‘distributed’ non-traditional US giant FisherBroyles, LLP made its first steps into the Latin American region with the absorption of the former Bravo Abogados in February 2025; based across offices in Monterrey and Mexico City, the eight-strong team consists of three partners and five counsel (plus eight law clerks), and is led by experienced corporate practitioner, Jair Bravo.

In other news, Hogan Lovells significantly strengthened its compliance group with the January 2025 addition of a two-lawyer team from Jones Day, comprising practice head Guillermo Larrea and senior associate Juan Carlos Quinzaños. The same month, experienced real estate partners María Teresa Paillés and María Esther Rey, former co-heads of the SMPS Legal practice, joined Pérez-Llorca. The latter firm’s litigation practice was also bolstered with the addition of two new partners, Antonio González and María Elena Huerta, who joined from Jones Day in June 2025.

Ex-Garrigues banking and finance practice head Mario Juárez left the firm for Sainz Abogados in July 2025, marking a significant addition to the firm’s senior ranks. Four months earlier, in March, corporate specialist Manuel Groenewold had also departed Jones Day, underscoring a period of notable attrition at the firm's local office.

Other notable changes have included Kavanagh Gorozpe’s June 2025 merger with Campa y Mendoza SC, shortly after the arrival of corporate specialist Alejandro Orellana from Von Wobeser y Sierra, SC in January 2025. In September 2025, LEC, Litigio Estratégico y Compliance, S.C. rebranded as Libera Iuris, a month after the departure of ex-practice co-head Daniela Ortega Sosa, who moved to Mijares, Angoitia, Cortés y Fuentes S.C. Finally, in the same month, veteran bankruptcy and restructuring counsel Thomas S. Heather rejoined White & Case S.C. from Creel, García-Cuéllar, Aiza y Enríquez, S.C.

This year, we have added a mining section to the Mexico chapter. Other new additions include City Focus sections for Cancun, Guadalajara and Tijuana, complementing the existing Monterrey ranking; and tentatively opened a Transport: Aviation section; and a new Agrarian Law table within Real Estate.