BMA Advogados > Sao Paulo, Brazil > Firm Profile

BMA Advogados
CEP: 04543-011 - ITAIM BIBI

Brazil > Capital markets Tier 1

The ‘strong’ team at BMA Advogados is ‘very experienced in capital markets matters’, attracting high-profile instructions from a variety of domestic and international clients, including publicly traded companies and investment banks. The practice’s ‘extensive knowledge in the area and a varied list of transactions’, including all forms of debt and equity listings, as well as regulatory matters, facilitates ‘quality, fast and effective advice’. The ‘highly experienced and knowledgeable‘ practice head Camila Goldberg brings together expertise in public and private offerings, and structured finance. Felipe Prado is often retained by financial institutions, public companies, private equity funds and portfolio managers in equity and debt transactions. Other key partners include Conrado de Castro Stievani, who has 'extensive national and international experience' of acting for issuers, underwriters and placement agents in capital markets deals, and the 'very attentive' Jane Goldman Nusbaum, who stands out for her strong track record in investment funds' offerings and real estate-related capital markets transactions. Luis Eduardo Al-Contar, who joined from Mattos Filho in June 2021 and was recently promoted to senior associate, is another name to note for equity offerings and regulatory issues. Júlia Rodrigues is no longer at the firm.

Practice head(s):

Camila Goldberg


‘Jane Goldman brought the working group a lot of security and dynamics so that it was possible to complete the structuring of the deal in the shortest time, as desired.’

‘Strong team, which is very experienced in capital markets matters. The team is also highly responsive and business-oriented, focusing on everything that is needed to get the deal done.’

‘Partners Camila Goldberg and Felipe Prado are highly experienced and knowledgeable. Associate Luis Eduardo Al-Contar is responsive, proactive, available if needed, and completely focused in getting the deal done, solving practical problems along the way.’

‘BMA is the best capital markets firm in Brazil, with extensive knowledge in the area and a varied list of transactions that allow for quality, fast and effective advice.’

‘Jane Nusbaum is very attentive, has vast knowledge of capital markets matters, and serves us very quickly.’

‘Conrado Stievani is totally focused on the business and success of the transaction. He has extensive national and international experience in the area. He brings confidence and great results.’

‘It is a complete firm, made up of qualified professionals who are extremely committed to deliveries, in addition to being available and versatile.’

‘Felipe Prado – very qualified professional with in-depth knowledge of corporate law and a genuine interest in understanding the company’s perspective.’

Key clients

Banco BTG Pactual

XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários

Banco Safra

Bank of America Merril Lynch Banco Múltiplo


CSN – Companhia Siderúrgica Nacional

Santos Brasil Participações

Rio Bravo Investimentos DTVM



Bemobi Mobile Tech



SPX Gestão de Recursos

Positivo Tecnologia

G2D Investments

AES Brasil Energia

Grupo Soma

Vinci Partners Investments

CVC Brasil Operadora e Agência de Viagens


Iochpe Maxion


Grupo Fleury

Suno Gestora de Recursos

Central Capital Gestão de Recursos


BR Properties

Work highlights

  • Acted as deal counsel in connection with the public restricted offering of the 4th Issue of simple non-convertible unsecured Debentures of XP Investimentos, in two series, under CVM Rule 476.
  • Acted for BRF in the largest non-state company equity offering of 2023.
  • Advised Iguatemi on its public offering of Units, common and preferred shares.

Brazil > Competition and antitrust Tier 1

Well regarded for its breadth of expertise in competition and antitrust, BMA Advogados is skilled in domestic and cross-border mergers, cartels and unilateral conducts investigations. Although the ‘business-oriented‘ team benefits from its close collaboration with the firm’s corporate and M&A practice, it is able to generate an impressive stream of standalone work, from merger control to behavioural mandates, including abuse of dominance cases, leniency applications and compliance. Practice head Barbara Rosenberg is a seasoned competition lawyer with a long track record in precedent-setting cases in Brazil; she is also regularly retained by companies in the approval of mergers and acquisitions by CADE and in investigations into anti-competitive conduct. These are also key areas of activity for José Inacio Ferraz De Almeida Prado Filho, while Marcos Antonio Exposto often acts in merger review proceedings before CADE for both domestic and cross-border deals. Camilla Paoletti is a name to note for clients from the life sciences, chemicals and consumer goods sectors. Merger notifications, administrative proceedings involving investigations into cartels and competition compliance programmes are among Luiz Antonio Galvão and Maria Amaral de Almeida Sampaio's legal specialisms. Associate Lea Jenner de Faria has notable strength in merger control filings.

Practice head(s):

Barbara Rosenberg


‘Technical capacity; large experience; quick understanding of the various economic segments in which clients operate; accuracy and efficiency in legal guidelines; availability.’

‘Barbara Rosenberg, Marcos Exposto, and Luiz Antonio Galvão are recommended.’

‘It is a business-oriented team. They understand client demands, simplify problems and propose solutions.’

‘We work regularly with BMA and find them to be extremely experienced, responsive and with great client service. One of our top go-to antitrust practices in Brazil.’

‘Bárbara Rosenberg is excellent.’

‘For me, the BMA is the benchmark in terms of antitrust. Bárbara Rosenberg is an excellent lawyer and the work her team does is outstanding!’

Key clients



Carrefour Group


Alliances Sonae



Pay less

International Automotive Industry of South America



Work highlights

  • Acted for the Carrefour Group in the acquisition of control over Grupo BIG.
  • Assisted CSN Cimentos in the submission to CADE of the acquisition of LafargeHolcim’s Brazilian operations.
  • Assisted Aliansce Sonae in the submission to CADE of the combination with brMalls, which created the largest shopping mall company in Brazil.

Brazil > Corporate and M&A: High-end Tier 1

Formed by highly qualified and experienced professionals’, the corporate and M&A team at BMA Advogados attracts instructions from several private and public companies in relation to their largest and most critical domestic and cross-border transactions. Showcasing strong capabilities across the entire spectrum of corporate and transactional matters, the team is engaged by clients operating in an array of industries – including energy, telecoms, oil and gas, retail, agribusiness and mining – with regards to complex M&A deals, corporate restructuring, private equity investments and governance issues. The group, which often collaborates with the litigation practice, is also well versed in corporate and shareholder disputes. Luís Loria Flaks, in Rio de Janeiro, has a wealth of experience in reorganisations, joint ventures and cross-border M&A, while São Paulo-based Roberto Dias Carneiro is a key contact for financial services, construction, energy and agribusiness clients; the pair jointly oversee the department. In the São Paulo office, founding partner Paulo Cezar Aragão has a strong track record in corporate transactions involving Latin American jurisdictions; Monique Mavignier is active in private and public M&A on behalf of sellers and buyers; Ana Paula Reis stands out for her regulatory expertise; and Pedro Henrique Serqueira advises on divestments, joint ventures and commercial agreements. Amir Bocayuva Cunha - who is routinely retained by entrepreneurs, private equity funds and public companies - works out of the Rio de Janeiro office, where he is flanked by senior associates Thiago Pinho and Karina Lerner; both are additional names to note for corporate and M&A matters.

Practice head(s):

Luís Loria Flaks; Roberto Dias Carneiro


Highly technical team; strong expertise and proximity to the client.

Monique Mavignier: expert in corporate matters; practical analysis of cases.

Very complete and diverse team. They handle the most diverse and complex matters, all with great quality. They understand the needs of the client and work according to the demands of each project.

Firm formed by highly qualified and experienced professionals. They make an important contribution to the definition and implementation of strategies related to highly complex deals.

Key clients



Eleva Educacao

XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários

Centrais Elétricas Brasileiras (Eletrobrás)

IRB Brasil Resseguros

Ultrapar Participações

Jereissati Participações



BTG Pactual

Rede D’Or São Luiz


Peninsula Participacoes



Aliansce Sonae Shopping Centers


CSN Mineração

Cimento Tupi

Work highlights

  • Assisted XP with the acquisition of a strategic minority stake in Grupo Suno.
  • Assisted fintech Olivia AI and its shareholders with the Brazilian law aspects involving the company’s sale to NuBank.
  • Advised Sul América on its business combination with Rede D’Or São Luiz.

Tax > Customs Tier 1

Brazil > Banking and finance Tier 2

Praised for its ‘above average ability to understand financing transactions‘, BMA Advogados is regularly sought out by major corporate borrowers in complex and high-value deals. The firm’s capabilities encompass a broad range of work, including cross-border restructurings, debtor-in-possession financings, asset-backed securitisations, acquisition financings, and project finance mandates. The practice is led by the versatile and ‘commercially pragmaticCamila Goldberg, who brings extensive experience in structured finance and capital markets matters. Rafael D’Avila Dutra is a recognised expert in project finance, while Anna Carolina Malta regularly represents investment funds and fund managers, and Felipe Prado focuses on payment institutions regulations. With solid credentials in structured finance involving investment funds and securitisation, Jane Goldman is praised for her ‘knowledge of the capital markets and ability to lead on matters’.

Practice head(s):

Camila Goldberg; Rafael Dutra; Felipe Prado


‘The firm has partners with a level of seniority not found in competitors. The team has an above average ability to understand financing transactions and the client’s business.’

‘Jane Goldman Nusbaum: knowledge of the capital markets and ability to lead on matters.’

‘Excellent law firm; one of the leaders in transactional matters; excellent team.’

‘Camila Goldberg is a commercially pragmatic lawyer and provides excellent quality advice.’

Key clients

BTG Pactual

XP Investimentos

BHP Billiton Group

Agence Française de Dévéloppement

BHG – Brazil Hospitality Group

GTIS Partners LP

G5 Investimentos

Alter Domus (US)

Enforce Gestão de Ativos

Quadra Capital

Urca Capital Partners

Morgan Stanley

BanQi Instituição de Pagamento

Galleria Correspondente Bancário Sociedade Unipessoal (Galleria Bank)

Work highlights

  • Acted as deal counsel for Banco BTG Pactual and Banco Pan in connection with the securitisation of Brazilian bank credit notes (Cédulas de Crédito Bancário – CCBs) linked to the Government Severance Indemnity Fund (Fundo de Garantia do Tempo de Serviço – FGTS).
  • Acted for Morgan Stanley Senior Funding, as lender and lead arranger, and a syndicate of financial institutions, as lenders, in the negotiation and extension of a $500m secured credit facility to 3R Lux for financing part of the acquisition of the Potiguar Cluster from Petrobras.
  • Assisted Banco BTG Pactual and Enforce Gestão de Ativos in the acquisition of a non-performing home equity loan portfolio originally held by PREVI – Caixa de Previdência dos Funcionários do Banco do Brasil.

City focus - Brasilia > Litigation Tier 2

BMA Advogados‘s Brasília office excels in appellate and judicial review work before the superior courts. Its varied caseload also features antitrust proceedings before the Administrative Council for Economic Defense (CADE), administrative improbity matters before the Comptroller General (CGU), and claims against regulatory agencies. The team is led by André Macedo de Oliveira, 'an exceptional lawyer' who is widely recognised for his extensive experience before government agencies and the superior courts. Associates Giovani Menicucci, whose expertise lies in administrative proceedings and judicial challenges involving antitrust law and administrative misconduct, and Sarah Roriz de Freitas, who focuses on litigation before the higher courts, provide key support.

Practice head(s):

André Macedo de Oliveira


‘A service always provided with excellence and at a very high level.’

‘It is very good to have the support of a firm that looks to the future, is a partner and ethical.’

‘André Macedo de Oliveira is an exceptional lawyer, ethical, with a very high level of knowledge, extremely meticulous and with great negotiating and strategic power.’

‘André Macedo de Oliveira’s team is committed and supports us in matters of great relevance to our business.’

‘Technical preparation, responsibility, attention, respect for clients and professional colleagues, concern with constant updating, communication and diversity are key qualities.’

‘André Macedo de Oliveira is extremely prepared, attentive, and skilled in the exercise of the profession. He is a good leader and has the ability to strategise and encourage the team.’

‘Sarah Roriz de Freitas is a very talented young lawyer. Prepared, studious and responsible.’

‘André Macedo de Oliveira is a lawyer who, in addition to being technically very sophisticated, knows Brasília and its institutions like few others. This makes his support there always very decisive.’

Key clients

Airbnb Ireland UC


Hewlett-Packard (HP)

Associação Brasileira de Mobilidade e Tecnologia (AMOBITEC)

Agropecuária Santa Bárbara

TAM Linhas Aéreas

Abengoa Construção Brasil

A LNG-to-power project located in Rio de Janeiro

Naurican Ludovico Lacerda

Celeo Redes Brasil

Companhia Ultragaz

Petro Rio Jaguar Petróleo

Work highlights

  • Assisted Airbnb in strategic litigation before the STJ related to limitations on rights of property that may affect the client’s business model and its activities in Brazil.
  • Represented Ambev in five appeals before the STJ and the STF, in which the purchase of shares of the company in the 1990s was discussed.
  • Represented HP before the STJ in a matter related to a sales agency agreement entered into by the parties in the 1990s and the validity of a limitation of liability clause.

Brazil > Dispute Resolution: Arbitration Tier 2

At BMA Advogados, the ‘proactive and accessible‘ dispute resolution practice boasts strong credentials in domestic and international arbitration, and is particularly rated for its experience in high-stakes corporate, commercial and investment-related disputes. A popular choice for companies from the construction, energy and real estate sectors, the team is also well positioned to act for banks and investment funds. André Abbud is a key figure in São Paulo for complex arbitration matters, including those arising from corporate, capital markets, infrastructure and contractual disputes. He jointly leads the team with Pedro De Oliveira Costa in Rio de Janeiro, who handles both arbitral and court proceedings. Luiz Fernando Fraga, a seasoned dispute resolution practitioner with a strong track record in domestic and cross-border arbitration; Mario Gelli; the ‘diligentRafael da Rocha Castilho; and associate Matheus Rodrigues Barcelos are other names to note in Rio. Gustavo Santos Kulesza, who is based in São Paulo, focuses on post-M&A, contractual and infrastructure arbitration. In the same office, senior lawyer Milena Cecília dos Santos Arbízu and Thais Vieira de Souza Pereira are active in commercial and contractual disputes.

Practice head(s):

Pedro Oliveira da Costa; André Abbud


‘Technical capacity and excellent communication. Proactive and accessible team.’

‘BMA has a very rigorous selection process, which translates into hiring very competent lawyers. They delve deep into topics related to ongoing cases in a multidisciplinary way, ensuring a broader view of the processes they lead.’

‘I’d highlight André Abbud.’

‘I have closer contact with Pedro Costa and Rafael Castilho and their teams. Pedro is very meticulous, extremely intelligent and very complete. He has a clear, concise and consistent argument, which, combined with his extensive experience, makes him one of the most competent lawyers I have worked with. Rafael is very attentive. Seeks to serve us promptly and efficiently. He is very diligent in the processes he conducts.’

‘What makes the firm stand out is the high technical quality of the arbitration team, both in Brazil and in international arbitration. The team transmits security to the client, providing high quality support.’

‘André Abbud is the highlight, always available and with important contributions in cases relevant to my company.’

Key clients

Lex Finance

Brazil > Dispute Resolution: Litigation Tier 2

Rated for its experience in complex corporate disputes, BMA Advogados‘s dispute resolution group is a go-to choice for blue-chip companies operating in a variety of industries, including retail, engineering, energy, tech, banking and real estate. Combining experience in civil, commercial and administrative disputes, the practice is able to ‘delve into the issues related to the lawsuits in a multidisciplinary manner‘ thanks to the firm’s full-service offering. In São Paulo, Felipe Evaristo dos Santos Galea is counsel of choice for several investment funds and multinationals from the worlds of entertainment, real estate and agribusiness, while André Abbud is regularly retained by financial, energy and insurance clients in relation to corporate, infrastructure and contractual disputes. Based in Rio de Janeiro, Pedro Costa – a ‘meticulous‘ and ‘competent‘ litigator – and Mario Gelli specialise in cases involving business law and succession issues; these are also core areas of activity for Iara Santos Conrado Costa Ferreira. The ‘very diligentRafael da Rocha Castilho is another key practitioner in civil and corporate litigation. Associate Matheus Rodrigues Barcelos offers key support in judicial proceedings involving construction and corporate law.

Practice head(s):

Felipe Evaristo dos Santos Galea; Pedro Oliveira da Costa


‘The firm has a multidisciplinary team, and a group dedicated to corporate litigation. This brings security to the client, who is certain that the issues have been studied and explored on their various fronts.’

‘Rafael Castilho and Pedro Costa are personally involved in the cases, bringing expertise and solid knowledge.’

‘BMA has a very strict selection process, which translates into the hiring of very competent lawyers. They delve into the issues related to the lawsuits in a multidisciplinary manner, ensuring a broader view of the cases they handle.’

‘Pedro Costa is very meticulous, extremely intelligent and very thorough. He has a clear, concise and consistent argumentation, which, together with his great experience, makes him one of the most competent lawyers I have worked with.’

‘Rafael Castilho is very attentive. He tries to assist us promptly and effectively. He is very diligent in the processes he conducts.’

‘André Abbud is recommended.’

Key clients

Airbnb Serviços Digitais

Amazon Serviços de Varejo do Brasil

BHP Billiton Brasil


BHG Brazil Hospitality Group

Carrefour Comércio e Indústria

Galvão Engenharia

Instituto Nacional de Amparo à Pesquisa, Tecnologia e Inovação na Gestão Pública – INTS

JMS Participações Ltda

Mahle Metal Leve

Netflix Entretenimento do Brasil

OutSystems – Software em Rede

Samsung Electronics Company

Samsung Semiconductor

Sega Corporation

Sempre Agtech

Sul América Capitalização – SULACAP

Turvinho Participações (Grendene Group)

Work highlights

  • Represented Agenus in an action filed by Recepta Biopharma before the Civil Court of the Central Court District of São Paulo involving alleged breaches of an agreement.
  • Assists Airbnb in litigation before the Brazilian Superior Court of Justice related to limitations on rights of property that may affect Airbnb’s business model and its activities in Brazil.
  • Represents Amazon in a patent infringement lawsuit brought by DivX before the Rio de Janeiro State Court.

Brazil > Intellectual property Tier 2

Full-service firm BMA Advogados fields a strong IP practice with expertise in the cosmetics, luxury goods, entertainment and biotech industries. Singled out for its work on behalf of international household clients, the team is routinely engaged in strategic portfolio management, high-stakes transactions and litigation. Practice leader Antonella Carminatti specialises in transactional IP, licensing and litigation matters. Ana Cristina Müller, who has a strong reputation in the biotech sector, heads up the patent and design team, which brings together lawyers, engineers and scientists. The IP litigation group is overseen by Pedro Frankovsky Barroso, who is skilled in complex disputes involving patents, trade marks and copyright issues. Patent attorney Lilian Arcalji utilises her chemical engineering experience to advise clients on the planning and implementation of IP protection strategies, and Pedro Tavares is adept in contentious matters.

Practice head(s):

Antonella Carminatti; Ana Cristina Müller; Pedro Frankovsky Barroso


‘This is a highly interactive team. We have always had pertinent collaborations, broad technical discussion and great relationships.’

‘Ana Cristina Müller and Lilian Arcalji are very helpful and engaged in all the requests we make.’

‘It works with the client’s business in a multidisciplinary and in-depth manner. The team develops broad and elaborate strategies that align with the other areas and meet the client’s specifications.’

‘The team is responsive and diligent in the handling of their clients’ patent portfolios.’

‘Ana Cristina Müller is particularly proactive and helpful.’

Key clients

Netflix Entretenimento Brasil

Warner Music Brasil

Middleby Marshall Holdings


Ronaldo Luis Nazário de Lima (Ronaldo)



Sega Corporation

Under Armour

Work highlights

  • Acting for L’Oréal in a trade mark and trade dress infringement case.
  • Assisting Netflix with several image rights and copyright cases related to both their original and third-party movies and series.
  • Represented Warner Music in a lawsuit brought by Raul Sexias’ heirs, preventing Warner from commercialising phonograms.

Brazil > Real estate Tier 2

BMA Advogados has a strong bench of partners and associates with good credentials across all areas of real estate. Operating from offices in Rio de Janeiro and São Paulo, the practice has established a good reputation in key asset classes, including shopping centres, industrial facilities, logistics, and office developments. Practitioners regularly handle complex real estate transactions and development projects that involve various aspects of corporate, M&A, tax, and capital markets law. Clients include major domestic and international developers, corporate leaseholders and investment funds. Cristiana Moreira, a key contact for major real estate developers in Brazil, predominantly advises on the structuring of development projects, transactions and construction contracts. Guilherme Zoghbi Ayala handles contractual and transactional matters in this space, while Gustavo Maia do Nascimento is the go-to lawyer for many domestic and international clients in sophisticated real estate deals, including financings, acquisitions of land and implementation of large-scale projects.

Practice head(s):

Cristiana Moreira; Guilherme Ayala; Gustavo Maia do Nascimento

Key clients


BR Properties

RB Capital




Core Real Estate

São Carlos / Best Center




XP Asset

Vinci Partners


Rede D’Or



Work highlights

  • Advised Confederação Brasileira de Futebol on the acquisition of land and execution of construction agreements for the development of training centres in 12 Brazilian cities.
  • Assisted an investment fund managed by Jive Asset Management in the acquisition of 45 real estate assets.
  • Advised Iguatemi on the acquisition of an additional 36% stake in Shopping JK Iguatemi, through the purchase, by its subsidiary Mutuall Soluções Financeiras, of all the shares in Adeoti Empreendimentos Imobiliários.

Brazil > Restructuring and insolvency Tier 2

BMA Advogados is recognised for its ‘great ability to think of creative and efficient solutions’ in the context of complex restructuring and insolvency proceedings. The firm remains active in debtor-led matters, though it also sees plenty of activity advising shareholders and creditors. A notable example on the shareholder side is representing BHP Billiton on the debt restructuring of Samarco Mineração, following the tragic rupturing of a dam in the city of Mariana in 2015. The multifaceted practice has good credentials across all work streams, including DIP financings, distressed M&A, and judicial and extra-judicial reorganisations. Practice head Sérgio Savi, a reference for distressed deals and reorganisation proceedings, is backed by a highly experienced team that includes Eduardo Guimarães Wanderley, who ‘combines legal knowledge with an excellent understanding of financial structures for solving insolvency cases’. Other names to note include Luciana Celidonio, who handles debt financings, distressed transactions and bankruptcy-related litigation, and senior lawyer Natalia Yazbek, a key contact for financial institutions, investors, bondholders, fiduciary agents, shareholders and companies in financial distress.

Practice head(s):

Sergio Savi


‘I worked with the BMA team on some restructuring cases and they were always very good technically and with a great ability to think of creative and efficient solutions to the various problems encountered by their clients.’

‘Among BMA’s partners, I have a great impression of partner Eduardo Wanderley, with whom I’ve worked on some cases. Eduardo combines legal knowledge with an excellent understanding of financial structures for solving insolvency cases.’

‘Technical quality and dedication.’

Key clients

BHP Billiton

Cimento Tupi


Jussara Elaine Simões and Fernando Antonio Simões

Sucden do Brasil

Credit Suisse

Antonio José de Almeida Carneiro

Keppel Fels

Sul América Capitalização

Redzero Participações

Work highlights

  • Provided assistance to BHP Billiton and its subsidiary BHP Billiton Brasil in Samarco Mineração’s judicial reorganisation proceedings.
  • Advising Cimento Tupi on its debt restructuring and judicial reorganisation.
  • Acted for Oi in its debt restructuring, involving more than 55,000 creditors.

Tax > Tax advisory Tier 2

The ‘highly specialised’ team at BMA Advogados fields a selection of ‘extremely helpful and efficient lawyers’ who ‘provide personalised client service’. The standalone practice possesses a broad range of expertise in tax planning and litigation, handling judicial and administrative cases at every level. Lígia Regini da Silveira, a seasoned tax litigator, spearheads the practice. Another name to note for contentious matters, Maurício Faro draws on his previous experience as a judge at CARF to act for clients in complex administrative cases. The ‘committed and dedicatedHermano Notaroberto Barbosa has over two decades of experience in tax litigation before the judicial courts and administrative authorities, which is also a key area of expertise for Letícia Pelisson. José Otavio Faloppa, who focuses on non-contentious matters is also part of the core team. Matheus Bertholo Piconez is no longer at the firm.

Practice head(s):

Lígia Regini da Silveira


‘Highly specialised, they provide personalised client service in a dedicated manner and not just a sell service.’

‘BMA serves me exceptionally. The partners get involved in the discussions, they are always available to meet our demands, which makes the service very personal and of quality. In addition, they always bring innovative ideas and solutions to our concrete cases.’

‘The firm is made up of very competent and dynamic professionals. At every opportunity, I was always assisted by extremely helpful and efficient lawyers, considering that the services are highly complex, since they usually deal with topics that are little explored in the Brazilian legal field or arising from legislative innovations. I emphasise that, despite the high technical level of the inquiries made to the office, I always got a satisfactory answer to my queries, in addition to promptness and efficiency in the several times we worked together.’

‘Quick response and knowledge of the subject.’

‘Great team.’

Key clients


AES Brasil, CPFL Renováveis, EDP – Energias do Brasil, Engie Brasil Energia, Elera Renováveis, China Three Gorges Brasil, Enel Brasil, Light


Banco Bs2

Omega Energia

Olivia AI

XP Inc

Sulamerica Seguros

Iguatemi Empresa de Shopping Centers

BHP Billiton

Aliansce Sonae

Pré-Sal Petróleo – PPSA

IRB Brasil Resseguros

Eleva Educação

GDM Genética do Brasil

Envision Indústria de Produtos Eletrônicos

Bacardi Martini do Brasil


Allianz SE



(Confidential names)

Cimento Tupi

GOL Linhas Aéreas and Interprint (Valid Group)

CBR 040 Empreendimentos Imobiliários (from Cyrela’s group)






Work highlights

  • Advised Oi on the tax aspects involving the sale of its optic fiber net assets to Globenet, a subsidiary of BTG Pactual.
  • Assisted target company Sulamerica and its controlling shareholders in the tax matters related to its business combination with Rede D’Or, Brazil’s largest hospital group.
  • Advising to Aliansce Sonae on the tax aspects of its merger with its competitor brMalls, completed on January 2023.

Tax > Tax litigation Tier 2

Brazil > Wealth and succession planning Tier 2

At full-service law firm BMA Advogados, the private client team brings together experts from various disciplines, including tax, corporate, capital markets and litigation. The practice is noted for its broad offering, which spans cross-border tax residence matters, succession planning, offshore investments and complex M&A involving family-controlled companies. With more than 20 years of experience advising private banks, multi-family offices and high-net-worth individuals, tax and estate planning specialist Hermano Notaroberto Barbosa co-heads the tax department and is a member of the firm’s French desk. He shares the private client team’s leadership with experienced tax lawyer Débora Bacellar De Almeida, who is active in assisting wealthy families and individuals in cross-border matters, including asset reorganisations, probates and individual taxation. Another key name is Camila Chouzal, who has significant experience handling transactional work, including M&A and corporate reorganisations.

Practice head(s):

Debora Bacellar de Almeida; Hermano Notaroberto Barbosa


‘Excellent technical capacity and high client adaptability.’

‘Level of updating and depth in relation to the knowledge of the legislation in general, the interpretations of the tax authorities and the judiciary, as well as the considerations and interpretations of the parties. Quality and reliability of the team of partners and lawyers. Attention to issues of technology, knowledge sharing and initiatives in favour of diversity, inclusive behaviour and social responsibility.’

‘Debora Bacellar de Almeida stands out for her depth of knowledge and argumentation in the defense and issuing of legal opinions. Her attention and sensitivity to client issues and concerns, precision, reliability, commitment, focus and attention are deeply appreciated.’

‘BMA’s greatest “mark” is its commitment to the interests of the client. Allied to the competence of the team, the full dedication to the matters places BMA in a unique position in the market. It’s the kind of office where you can be calm.’

Key clients

Turim Investimentos

Banco Santander

Morgan Stanley

Itaú Unibanco

BTG Pactual

SPX Capital

Vinci Partners

JGP Investimentos

Gávea Investimentos

XP Multi Family Offices

Brazil > Environment Tier 3

BMA Advogados is skilled at handling a broad range of environmental mandates, ranging from strategic lawsuits and complex regulatory matters to transactions with considerable environmental implications. The team, which is well versed in ESG compliance and climate change issues, often advises domestic and foreign clients on carbon market regulations and projects, water pollution, mining damages and related liabilities in Brazil. Rio de Janeiro-based Marcio Pereira balances a busy caseload featuring high-profile instructions from the fields of energy, oil and gas, infrastructure, mining, telecoms, forestry and agribusiness. Marina Maciel in São Paulo handles both non-contentious work and litigation, and has recently advised on licensing issues, M&A deals and administrative proceedings. Since publication, Beatriz Paulo De Frontin has left the firm, effective as of November 2023.

Practice head(s):

Márcio Pereira; Marina da Silva Pinto Maciel


‘Stands out for its industry knowledge.’

‘Marcos is very knowledgeable in environmental matters.’

Key clients


PQ Silicas Brasil

Bank of Montreal

Lactalis do Brasil – Comércio, Importação e Exportação de Laticínios

Norsk Hydro Brasil

Gás Verde

Serviços de Petróleo Constellation

Geti Empreendimentos Imobiliarios

L’Oréal Brasil

Work highlights

  • Assisting Vale in several environmental proceedings related to the decommissioning of mining tailing dams in the state of Minas Gerais.
  • Provides legal advice to PQ Silicas Brasil on environmental issues in relation to its two plants located in the state of São Paulo.
  • Advising Bank of Montreal on an M&A deal involving Canadian company Radicle, whose business is carbon credits in Brazil.

Brazil > Labour and employment Tier 3

BMA Advogados is well equipped to handle various contentions and non-contentious labour matters, ranging from employment contracts to collective bargaining agreements, class actions, and individual claims filed by senior executives. The group, which draws on the firm’s strong transactional capabilities, is also often called upon to advise on the employment aspects of large-scale corporate deals. Cibelle Linero acts for both domestic and international companies in litigation and consultancy matters. Senior associate Fernanda Rochael Nasciutti is also active in employment matters, including judicial and administrative proceedings, transactions, pension and social security matters. Since publication, Luiz Marcelo Figueiras de Góis has left the firm, effective as of July 2023.

Practice head(s):

Cibelle Linero


‘Very experienced partners; prepared and available team.’

Key clients

Dover Fueling Solutions


Tivit Terceirização de Processos, Serviços e Tecnologia

Energisa Group

Engie Group

BioMarin Brasil Farmacêutica

Brookfield Energia Renovável (Elera Renováveis)

Expedia do Brasil Agência de Viagens e Turismo

Ceiba Group


CVC do Brasil Operadora e Agência de Viagens

Fundo Garantidor de Crédito – FGC


Work highlights

  • Represented Energisa in a class action filed by labour unions concerning the privatisation of companies acquired by the client.
  • Assisting BioMarin in the negotiation of an expatriation process, a special severance package, and the respective judicial ratification procedure.
  • Assisted Ambev in the implementation of home/hybrid working, through policies and amendments of employment agreements.

Brazil > Public law Tier 3

Based in Rio de Janeiro and São Paulo, the public law group at BMA Advogados is noted for its expertise in regulated sectors. The team is well versed in licensing processes, public biddings, concessions and competitive contracting procedures. Public law litigation, including administrative proceedings, judicial reviews and government disputes, is also at the core of the practice. Well regarded for her experience in infrastructure projects in the sanitation, logistics and transport segments, Ana Cândida de Mello Carvalho leads on major concessions and bidding procedures. She jointly heads up the team with José Guilherme Berman, whose practice covers regulatory enforcement, compliance, investigations and litigation. Associate Mayna Dias Melo is often engaged in administrative law matters and concessions.

Practice head(s):

José Guilherme Berman; Ana Cândida de Mello Carvalho


‘The firm has a wide capacity to serve clients in several areas of law, maintaining the quality of service and delivery of results to clients.’

‘Ana Cândida de Mello Carvalho stands out for her knowledge and experience in administrative, regulatory and infrastructure law.’

Key clients

Santos Brasil Participações

Iguá Saneamento

VR Benefícios

Accioly Participações

Opy Participações

DC Set Participações

PPR Pepira Empreendimentos e Participações

99 Tecnologia


MC Brazil (Mubadala)

Technip Energies





Carioca Engenharia

Banco do Estado do Rio Grande do Sul – Banrisul

Several Petrobras’ former executives

Carrefour Comércio e Indústria

Confederação Brasileira de Futebol – CBF

Companhia Brasileira de Projetos e Obras – CBPO

Ciclus Ambiental do Brasil

Centrais Elétricas Brasileiras – Eletrobras

Pré-Sal Petróleo

Valid Soluções

Work highlights

  • Assisted Carrefour in regulatory matters regarding its app Nutriescolha, which is designed to provide nutritional information to consumers.
  • Represented BANRISUL, the Bank of Rio Grande do Sul, and several members of its board of directors in proceedings filed by Rio Grande do Sul Public Prosecutor’s Office, seeking to annul the appointment of public servants to the bank’s board.
  • Advised Tenaris on a public bidding held by Petrobras for the purchase of pipes and connectors used in the extraction of oil from pre-salt layer in the Campos Basin.

Brazil > TMT: Cybersecurity and data privacy Tier 3

The data privacy and cybersecurity practice at BMA Advogados is skilled in responding to adverse scenarios and managing security and cyberattack crises, including ransomware cases. In addition to its crisis management and litigation capabilities, the 'team of highly qualified professionals' is also regarded for its experience in data compliance projects and data transfers. 'Well-known for his knowledge of privacy', Felipe Palhares is the main reference in the team for domestic and international clients seeking advice on the processing of personal data, new product launches, interactions with regulators and data breaches. Bárbara de Oliveira Iszlaji and Fernanda Villela Viana are also active in the practice.

Practice head(s):

Felipe Palhares


‘The firm has a team of highly qualified professionals who showcase their legal knowledge through the publication of articles and books. They have in-depth and up-to-date knowledge of relevant topics, and their practical application to the clients’ day-to-day activities is a differentiator.’

‘Felipe Palhares is well-known for his knowledge of privacy. His opinions are well-founded and are of great use to us practically.’

‘Great work and team, Felipe Palhares produces particularly good work.’

‘The team at BMA is impeccable. From a technical point of view, I believe that nobody is better than Felipe Palhares. I always consult BMA for more sensitive and strategic issues.’

‘Felipe Palhares stands out for his knowledge of privacy, data protection and cybersecurity. Felipe is the only person who has obtained all the certifications from the IAPP (International Association of Privacy Professionals) – the largest privacy and data protection organisation in the world – which attests to his technical capacity in dealing with Brazilian law and good foreign practices. This has been especially valuable to us since we have been expanding internationally. Felipe also responds quickly and is very attentive.’

Key clients

Launch Pad Tecnologia (Hotmart)

Quinto Andar


CBMM (Companhia Brasileira de Metalurgia e Mineração)


Luigi Lavazza Spa

Saneamento Ambiental Águas do Brasil

SITA do Brasil


CSM (Companhia Siderúrgica Nacional)

Work highlights

  • Assisting Hotmart in the drafting and review of data protection documents and policies.
  • Assisting Quinto Andar in the definition of a strategy for its global expansion, including data protection challenges and privacy issues.
  • Assisting Multiplan and the shopping centers it manages with its data protection issues.

Brazil > Compliance Tier 4

BMA Advogados acts for clients from highly-regulated sectors, namely asset management firms, fintechs and healthcare companies, in a range of issues related to corporate governance and compliance. A key contact for financial institutions, investment funds and fund managers, Anna Carolina Malta Spilborghs has a wealth of experience in internal investigations concerning anti-corruption, internal fraud and harassment. She oversees the practice with André Macedo De Oliveira, who regularly represents clients before government agencies and the superior courts, and José Guilherme Berman, whose solid experience in public law make him a first-choice for administrative misconduct matters. Senior associate João Rodrigues da Costa Bonvicino is experienced in sensitive corporate investigations.

Practice head(s):

José Guilherme Berman; Anna Carolina Malta Spilborghs; André Macedo de Oliveira

Key clients

Souza Cruz (BAT – British American Tobacco)

DOF Subsea Brasil Serviços


Ferroport Logística Comercial Exportadora

Ecorodovias Concessões e Serviços

Concessionária Linha Universidade


Hotmart – Launch Pad Tecnologia Serviços e Pagamentos

Work highlights

  • Advises DOF Subsea Brasil Servicos on due diligence and background checks of suppliers and third parties.
  • Assisting Escola Dom Cipriano Chagas in the creation of its compliance programme.
  • Assitsts Ferroport Logistica Comercial Exportadora in daily compliance demands.

Brazil > Insurance Tier 4

BMA Advogados has a highly respected insurance team which regularly advises buyers and sellers on various high-profile transactions. Corporate acquisitions and restructurings within the insurance sector are core areas of strength for the group, which also provides support on regulatory and tax issues pertaining to the industry. Rio de Janeiro-based corporate partner Henrique Vargas Gama Beloch spearheads the team and offers substantial expertise in regulatory matters. Other lead contacts include tax partner Maurício Pereira Faro, and litigator Pedro Oliveira Da Costa. Senior associate Adriano Carneiro is also recommended on the corporate side.

Practice head(s):

Henrique Vargas Gama Beloch


‘Professional knowledge combined with excellent client service.’

Key clients


Bradesco Seguros

IRB Brasil Resseguros


BB Seguros

Capemisa Seguradora


Too Seguros

BTG Pactual Seguros

THB Seguros

Minuto Seguros

Newe Seguros

Sompo Seguros



Sombrero Seguros

Porto Seguro

Seguradora Líder dos Consórcios DPVAT

Generali Brasil Seguros

XP Vida e Previdência

Work highlights

  • Advised SulAmérica on the merger with Rede D’Or, creating one of the largest combined health-insurance and hospital groups in Latin America.
  • Assisted Sompo Seguros in the sale of its automobile and retail business in Brazil to HDI Seguros.
  • Advised Newe Seguros and its founders on the investment by Insuresilience Investment Fund Private Equity II SCA SICAV-RAIF, an investment fund managed by BlueOrchard.

Brazil > TMT: Media Tier 4

The firm: Founded in the 1990s, when Brazil was undergoing structural changes, BMA – Barbosa Müssnich Aragão was inspired by a mission to find innovative solutions that are legally viable and sustainable in an environment of rapid development, new regulatory frameworks and new business models in almost all sectors of the economy. Inspired to be a pioneering law firm, ready — and more than able — to take on the big projects and big problems that require sophisticated solutions. An active participant in the privatisations that took place in the 1990s, BMA had achieved a solid reputation and both national and international recognition even before becoming one of the leading firms in Brazil in the mid-2000s, when the Brazilian market experienced a wave of IPOs and mergers and acquisitions. BMA has been present in most of the major M&A transactions in Brazil over the last two decades, participating in the creation of corporate groups that do business around the world. BMA has acquired an impressive stock of know-how in infrastructure projects, especially in the areas of ports, railroads, highways, oil and gas, energy, and telecommunications. The firm also had a major part to play in the 2014 FIFA World Cup, negotiating the contracts that gave Brazil the right to host the event and acting as legal counsel to the local organising committee. BMA’s experienced professionals know that a thorough understanding of the firm’s clients’ business objectives is essential. BMA works to achieve creative, effective solutions by integrating its specialist teams to ensure a multidisciplinary approach to legal problems.

BMA Educação – Becoming a BMA lawyer
BMA Educação is a school that helps attorneys acquire the skills that every “BMA lawyer” needs. The programme focuses on excellence, quality, and providing valuable learning experiences to the firm’s professionals. The project is intended to work with BMA’s lawyers and help them develop into professionals whose qualifications, analytical skills and curiosity never stop growing, who have a multidisciplinary vision and who are eager to apply the theoretical knowledge they have acquired to creating efficient solutions to real problems. The objective is to become a true seal of excellence: BMA quality.

BMA InspirAção – Inspire to action
BMA InspirAção is the model for BMA’s pro bono work. BMA believes that education, socially aware entrepreneurship and culture are the paths that will lead to profound and lasting change in society. BMA InspirAção focuses on these three vectors for change. BMA wants to generate effective returns for society as a whole, as it does for its clients, and believes it can.

BMA Woman
Following the worldwide movement toward women’s empowerment and a more balanced corporate environment, the program’s objective is to support women’s professional growth within the firm and provide even more opportunities for internal talent to develop,fostering new professional relationships and debate on critical issues that affect the daily life of women in business.

A highlight is the Mentoring Program, an initiative of BMA Woman focused exclusively on the professional development of our female lawyers. The program aims to strengthen the professional and socio-emotional skills of our senior lawyers.

BMA Diversity
BMA is committed to plurality, equality of race, gender and sexual orientation, respect for all religions, and inclusion of persons with disabilities. BMA believes in diversity as an instrument for social transformation, enriching the work environment and promoting valuable exchanges from different points of view.

Main areas of practice:

  • Agribusiness
  • Banks and financial services
  • Blockchain and  innovation
  • Business crime
  • Commercial contracts and franchises
  • Competition law
  • Compliance, investigation, and regulatory enforcement
  • Corporate and M&A
  • Crisis management
  • Data privacy and cybersecurity
  • Dispute resolution
  • Due diligence
  • Energy
  • Environmental and climate change
  • ESG
  • Finance and capital markets
  • Government relations
  • Industry
  • Infrastructure and regulatory and government affairs
  • Insurance
  • Intellectual property
  • Labor and employment
  • Oil and gas
  • Payment services and fintech
  • Private equity
  • Privatizations and concession
  • Real estate transactions
  • Restructuring and insolvency
  • Superior courts
  • Tax
  • Technology and digital businesses
  • Telecommunications
  • Wealth and succession planning

Languages: English, French, German, Italian, Portuguese, Spanish

Managing partner: Amir Bocayuva Cunha

Senior partners: Paulo Cezar Aragão, Francisco Müssnich, Plínio Barbosa and Luiz Antonio Campos

Partners: Adriana Fuzinato, Ana Müller, Ana Cândida, Ana Paula Reis, André Abbud, André Macedo, Anna Carolina Malta, Antonella Carminatti, Barbara Rosenberg, Bernardo Cascão, Camila Chouzal, Camila Goldberg, Camilla Paoletti, Carlo Rocha, Carlos Frederico Bingemer, Cibele Linero, Conrado Stievani, Cristiana Moreira, Daniella Fragoso, Debora Bacellar, Eduardo Wanderley, Ellen Juste Nuñez, Fábio Florentino, Felipe Galea, Felipe Guimarães Rosa Bon, Felipe Palhares, Felipe Paschoalini, Felipe Prado, Fernanda Carneiro, Fernanda Tanure, Franciny de Barros, Gisela Sampaio, Guilherme Morgulis, Guilherme Zoghbi Ayala, Gustavo Kulesza, Gustavo Maia, Hélio Alvarez, Henrique Beloch, Hermano Barbosa, Ian Bussinger, Iara Ferreira, Igor Silva de Lima, Jane Goldman, José Guilherme Berman, José Inácio Ferraz, José Otavio Faloppa, Leandro Bittencourt, Letícia Ramires Pelisson, Lígia Regini, Luciana Celidonio, Luciana Magalhães Costa, Luciana Marsal, Luis Flaks, Luís Henrique Costa, Luiz Fernando Fraga, Luiza Lacerda, Márcio Pereira, Marcos Exposto, Maria da Paz Tierno Lopes, Mario Gelli, Maurício Faro, Miguel Ramos, Monique Mavignier, Patrícia Sabino, Pedro Costa, Pedro Frankovsky Barroso, Rafael Calábria, Rafael Castilho, Rafael Dutra, Raquel Mansanaro, Renan Frediani, Roberto Dias Carneiro, Rodrigo De Teive e Argollo Mariani, Sergio Fagundes, Sérgio Savi, Tatiana Amorim, Tatiana Dratovsky Sister, Thais Meira, Vitor Butruce, Vivian Casanova.

Number of lawyers: 330

Department Name Email Telephone
Managing Partner Amir Bocayuva 55 21 3824-5871
Photo Name Position Profile
Hermano A. C. Notaroberto Barbosa photo Hermano A. C. Notaroberto Barbosa Partner
Fernanda A. Tanure photo Fernanda A. Tanure Partner
André Abbud photo André Abbud Partner
Hélio Alvarez Sales da Cunha photo Hélio Alvarez Sales da Cunha Partner
​Tatiana Amorim photo ​Tatiana Amorim Partner
Paulo Cezar Aragão photo Paulo Cezar Aragão Partner
Debora Bacellar photo Debora Bacellar Partner
Plínio Barbosa photo Plínio Barbosa Partner
Henrique Beloch photo Henrique Beloch Partner
José Guilherme Berman photo José Guilherme Berman Partner
​Leandro Bittencourt Marcondes photo ​Leandro Bittencourt Marcondes Partner
Amir Bocayuva Cunha photo Amir Bocayuva Cunha Managing Partner
​Ian Bussinger photo ​Ian Bussinger Partner
Vitor Butruce photo Vitor Butruce Partner
Antonella Carminatti photo Antonella Carminatti Partner
Vivian Casanova photo Vivian Casanova Partner
Bernardo Cascão photo Bernardo Cascão Partner
Luciana Celidonio photo Luciana Celidonio Partner
Camila Chouzal photo Camila Chouzal Partner
Iara Conrado photo Iara Conrado Partner
​Luis Henrique Costa photo ​Luis Henrique Costa Partner
Pedro Costa photo Pedro Costa Partner
Roberto Dias Carneiro photo Roberto Dias Carneiro Partner
​Adriana Dib Fuzinato photo ​Adriana Dib Fuzinato Partner
Tatiana Dratovsky Sister photo Tatiana Dratovsky Sister Partner
Rafael Dutra photo Rafael Dutra Partner
Marcos Exposto photo Marcos Exposto Partner
José Inacio Ferraz de Almeida Prado Filho photo José Inacio Ferraz de Almeida Prado Filho Partner
Luís Flaks photo Luís Flaks Partner
Fabio Florentino photo Fabio Florentino Partner
Luiz Fernando Fraga photo Luiz Fernando Fraga Partner
Daniella Fragoso photo Daniella Fragoso Partner
Pedro Frankovsky Barroso photo Pedro Frankovsky Barroso Partner
Renan Frediani Torres Peres photo Renan Frediani Torres Peres Partner
Eduardo G. Wanderley photo Eduardo G. Wanderley Partner
Felipe Galea photo Felipe Galea Partner
Camila Goldberg photo Camila Goldberg Partner
Jane Goldman photo Jane Goldman Partner
Felipe Guimarães Rosa Bon photo Felipe Guimarães Rosa Bon Partner
José Otavio Haddad Faloppa photo José Otavio Haddad Faloppa Partner
Ellen Juste Nuñez photo Ellen Juste Nuñez Partner
Sergio Kehdi Fagundes photo Sergio Kehdi Fagundes Partner
Gustavo Kulesza photo Gustavo Kulesza Partner
Luiza Lacerda photo Luiza Lacerda Partner
Cibelle Linero photo Cibelle Linero Partner
Carlos Frederico Lucchetti Bingemer photo Carlos Frederico Lucchetti Bingemer Partner
André Macedo de Oliveira photo André Macedo de Oliveira Partner
Luciana Magalhães Costa photo Luciana Magalhães Costa Partner
Gustavo Maia do Nascimento photo Gustavo Maia do Nascimento Partner
Anna Carolina Malta Spilborghs photo Anna Carolina Malta Spilborghs Partner
Raquel Mansanaro photo Raquel Mansanaro Partner
Luciana Marsal photo Luciana Marsal Partner
Monique Mavignier photo Monique Mavignier Partner
Cristiana Moreira photo Cristiana Moreira Partner
Guilherme Morgulis photo Guilherme Morgulis Partner
Ana Cristina Müller photo Ana Cristina Müller Partner
Francisco Müssnich photo Francisco Müssnich Partner
Patrícia O. Ferrari Sabino photo Patrícia O. Ferrari Sabino Partner
Felipe Palhares photo Felipe Palhares Partner
​​Camilla Paoletti photo ​​Camilla Paoletti Partner
Felipe Paschoalini photo Felipe Paschoalini Partner
Letícia Pelisson photo Letícia Pelisson Partner
Márcio Pereira photo Márcio Pereira Partner
Fernanda Pereira Carneiro photo Fernanda Pereira Carneiro Partner
Maurício Pereira Faro photo Maurício Pereira Faro Partner
Felipe Prado photo Felipe Prado Partner
Miguel Ramos photo Miguel Ramos Partner
Lígia Regini photo Lígia Regini Partner
Ana Paula Reis photo Ana Paula Reis Partner
Barbara Rosenberg photo Barbara Rosenberg Partner
Gisela Sampaio da Cruz Guedes photo Gisela Sampaio da Cruz Guedes Partner
Sergio Savi photo Sergio Savi Partner
Igor Silva de Lima photo Igor Silva de Lima Partner
​Carlo Sivieri de Assis Rocha photo ​Carlo Sivieri de Assis Rocha Partner
Guilherme Zoghbi Ayala photo Guilherme Zoghbi Ayala Partner
Maria da Paz Tierno Lopes photo Maria da Paz Tierno Lopes Partner
Rafael  da Rocha Castilho photo Rafael da Rocha Castilho Partner
Franciny de Barros photo Franciny de Barros Partner
Thais de Barros Meira photo Thais de Barros Meira Partner
Conrado de Castro Stievani photo Conrado de Castro Stievani Partner
Mario Felippe de Lemos Gelli photo Mario Felippe de Lemos Gelli Partner
Ana Cândida  de Mello Carvalho photo Ana Cândida de Mello Carvalho Partner
Luiz Antonio de Sampaio Campos photo Luiz Antonio de Sampaio Campos Partner
Rodrigo de Teive Argollo Mariani photo Rodrigo de Teive Argollo Mariani Partner

At BMA, we are committed to plurality, equality of race, gender, and sexual orientation, respect for all religions, and inclusion of people with disabilities. We believe in diversity as an instrument for social transformation, enriching our work environment and promoting valuable exchanges from different points of view.


BMA Diversity was created with the assistance of an independent expert and its projects are focused on our community. The Diversity Committee’s work rests on two main pillars: authenticity and respect – allowing our people to be themselves and creating an environment of trust within our team.


Through the BMA Diversity initiative, we seek to listen to all groups represented in today’s society and share experiences with other law firms. Working together toward a shared objective, we plan actions that will help minimize all forms of prejudice in day-to-day interactions so that we can live in a more egalitarian and inclusive world.


We are aware that the topics discussed within BMA Diversity transcend the Committee. For this reason, we have organized a large group of “Propagadores de Diversidade” (Diversity “Champions” or “Ambassadors” in English) composed of all those at BMA who are especially interested in diversity. The Ambassadors have an active and very important role: they encourage discussion over the best ways to augment diversity and inclusion, not just at work but in society at large, suggest and design diversity and inclusion actions, and disseminate BMA Diversity’s values throughout our offices. We are proud to say that we now have more than 100 people engaged in one or more affinity groups at our firm.


As part of our Diversity Program, we promote periodic training to all our team with diversity experts. Our actions also include the production of periodic newsletter on diversity to engage and inform clients and our professionals, called “BMA Plural”. On the last year, in BMA Plural, we have already discussed diversity and inclusion of people with disabilities in the workforce; racism and its various forms; the 10-year anniversary of Brazil’s Racial Quota Law; fatphobia in the workplace; the struggle of women for equality in a society that, in many respects, is still dominated by a sexist perspective; the importance of family acceptance for the LGBTQIA+ community; and access to healthcare.


In Brazil, racism is structural and results in profound social inequality. Part of our work against racism is to engage in actions that minimize educational differences, because we believe that education has great transformative power.


We are proud to be part of the Aliança Jurídica pela Equidade Racial (Legal Alliance for Racial Equality), an initiative that brings together some of the main law firms in São Paulo and FGV Law School – São Paulo, with the objective of promoting inclusion of Black professionals in the legal market.


In 2022, we promoted, together with the Aliança Jurídica pela Equidade Racial, an event for our members and clients about the importance of Black People in Spaces of Power.


We are also part of Projeto Incluir Direito (the Legal Inclusion Project) led by CESA (Law Firms Center for Studies) in partnership with the Instituto Presbiteriano Mackenzie, Universidade Presbiteriana Mackenzie, Pontifícia Universidade Católica do Rio de Janeiro (PUC-RJ), Universidade de São Paulo (USP) e Universidade Federal do Rio de Janeiro (UFRJ). The initiative contributes educational and training opportunities for self-declared Black students at the Mackenzie Law School, to strengthen their competitiveness in the job market. The project’s objective is to promote greater participation of Black persons in the legal environment and to develop a coherent, affirmative line of action that will help reduce inequalities and discrimination.

As part of our commitment to act actively in favor of a necessary transformation, building spaces of representation that reflect our society, in 2022, we launched the 1st edition of #AfirmAção (AffirmAction), our Internship Program exclusively designed for black people. Over a period of six months, students had the opportunity to rotate through key areas of the firm, including research, legal due diligence, conflict resolution, and corporate law. They were also mentored by partners and associates from these practice areas, and members of the BMA Diversity Committee. All interns who successfully completed the program became part of the BMA team.


In addition to interacting with partners, the students received English language scholarships to enhance their language skills and proficiency, developmental training focused on professional growth, and technical training focused on legal content.


We also have prepared several internal events and materials to spread awareness and uproot systemic racism in the workplace.


Another important diversity and inclusion initiative is led by our gender equality program BMA Women, which is designed to support professional development of the women at our firm and retain talent.


Women’s advances in the world are reflected at BMA: today, 58% of our people are women. Of our partners, 41% are women who actively participate in the firm’s strategic decision-making. As part of our continuing effort to achieve gender equality, BMA has signed the CEO Statement of Support for the Women’s Empowerment Principles established by UN Women and UN Global Compact. The Principles help us to promote values and best practices to expand gender equality and women’s empowerment. BMA Women also supports other women’s groups initiatives such as Ibram’s Women in Mining, 100 Women in Finance, and Women in Infrastructure.


In line with UN Women’s Empowerment Principle 4 – promoting women’s education, training and professional development – we launched our first Mentoring Program, an initiative of BMA Women focused exclusively on the professional development of our employees. The project, which is unprecedented in the firm, aims to strengthen the professional and socio-emotional skills of our younger women lawyers.


We recognize the challenge of balancing work and personal life, which weigh even more heavily on women, especially those who are mothers. We seek to implement measures to support parenting and bring more balance to gender equity. As a result, the firm’s male employees are now entitled to an extended paternity leave of one month, in addition to the right to childcare assistance.


In addition, once a year we assist the World Bank Group in the development of the Women, Business and The Law report – which analyze laws and regulations affecting women’s economic inclusion in 190 economies.


On the LGBTI+ side, our efforts are focused on creating a work environment at BMA that is not only respectful but allows people to embrace who they are in their professional and personal lives. To guide us in our efforts to increase respect for LGBTI+ rights and to contribute to reducing the vulnerability of this group and the violence it is exposed to, we are part of the Fórum de Empresas e Direitos LGBTI+ (the Business and LGBTI+ Rights Forum).


Awareness campaigns to promote respect and diversity incentives are another part of BMA Diversity’s routine, not to mention pro bono legal services, volunteer work and donations related to diversity.


Working with our Compliance Committee, BMA Diversity has taken a strong stance in cases where inappropriate conduct involving discrimination has been detected. We have a communications channel that can be used to report misconduct and inappropriate situations securely and anonymously.


We also know that we have to think of the future of the planet, and that volunteer work makes a difference.


To give back to society as a whole, through actions that lead to deep and long-lasting change, is the mission we have taken on in BMA Inspiration. The program supports education, culture, and entrepreneurship that has social impact in three ways: pro bono work, offering free legal services to those in need; volunteer work, in campaigns where our people contribute to a variety of social causes; and BMA Solidarity, a project that focuses on opportunities for our people to lend a helping hand to colleagues within the BMA firms. We believe these are tools that have true impact in the effort to make the world a better place.


Some of our most recent actions with our partner institutions, all focused in the area of social responsibility, are described below.


In 2022, the Inhotim Institute, which holds one of the most important collections of modern and contemporary Brazilian art – and is the largest outdoor museum in the world, located in Brumadinho in the state of Minas Gerais – became one of BMA Inspiration’s partner organizations. Not only was ownership of the entire art collection of the institute’s founder, Bernardo Paz, definitively transferred to the Inhotim collection, the institute’s governance model was redesigned to ensure the museum’s sustainability and continuity over the years, to include representatives of civil society in its management, and to democratize access to its activities.


The concern over good governance – which is here to stay in both the private and public spheres of the economy – relates to better use of resources and generating positive results for society. In the Inhotim project, good governance translates into more programs for the public, inter-institutional collaboration, integration between culture and the environment, a more active presence in the local community, and a greater role for civil society in the life of the museum.


BMA Inspiration, which donated more than 359 hours of legal services performed by 27 lawyers, played an essential part in designing and implementing the Inhotim Institute’s new governance structure which, in addition to modernizing its management model, through the formation of a new board of governors, concentrated on financial sustainability. The aim is to ensure the continuity of the largest open air museum in the world, expanding its social impact and raising Brazil’s profile in terms of access to art and culture.


During the last year, BMA advised Ashoka, which is a organization that identifies and supports the world’s leading social entrepreneurs, learns from the patterns in their innovations, and mobilizes a global community that embraces these new frameworks to build an “everyone a changemaker world”. In Brazil, the company was focused to improve its diversity and inclusion program to have a better representative work force. BMA advised Ashoka on the legality of carrying out inclusive selection processes. Based on the legislation and recent case law understanding on the subject, BMA addressed the feasibility of exclusive job openings for minority groups, as an affirmative policy for the inclusion of these groups in the job market. With the legal advice, Ashoka was able to implement exclusive jobs openings for minority groups, as BMA concluded that such actions have legal support.


Recently, a bill of law proposing the free distribution of sanitary napkins to women in need was voted by the Brazilian congress. This bill was inspired by a social work realized by three young girls and their non-governmental organization “Girl Up Elza Soares”. Considering the social impact caused by the project, a Producer proposed to them to sing an option agreement licensing their personality rights (voice and image) with the intent to launch an audio-visual production.


BMA not only reviewed this agreement but also had major relevance on the negotiation with the Producer in order to protect the girls’ best interests (what result in an increase of 50% of their compensation). This agreement opens the opportunity to the Producer to raise investors’ money to launch the product, what, besides being able to provide to these girls a fine compensation, will also disseminate important health information to women in need.


We also helped CREN to identify legal arguments that would allow the entity to renegotiate the terms of an Agreement executed with the Municipal Health Department of São Paulo (“SMS/SP”). The Agreement provided for the transfer of funds in exchange for the entity to meet stipulated targets related to preventing malnutrition in children and teenagers. Since the funds transferred were insufficient to fulfill the stipulated targets, the entity needed help to renegotiate the Agreement terms. After holding some meetings with the entity to collect information and obtain the relevant documents, we analyzed the possible scenarios for the entity to renegotiate the partnership and prepared a draft letter for the entity to send to SMS/SP.


BMA has worked with Endeavor, whose mission is to accelerate entrepreneurs who accelerate the Brazil’s growth, in the recent years in multiple tax aspects, both in the administrative and in the judicial level. The main topics addressed were (1) the taxation on financial revenues and the strategy to rectify the amounts due in the last 5 years; (2) the non-taxation of revenues related to services provided by Endeavor; (3) renewal of the certificate to exempt tax on donations. BMA team was responsible for defining all the legal strategies related to the above-mentioned topics, all of them ended up being successful. We have also got a favorable decision on behalf of Endeavor that (1) substantially reduced the taxation on its revenues; (2) authorized the refund of a considerable amount of taxes overpaid in the past, whose resources are relevant to enable Endeavor to keep pursuing its mission.


BMA also helped Patronos, an entity without profitable purposes, which aims at the development of the academic community at UNICAMP (Universidade Estadual de Campinas), attracting donations that are invested in the financial market. The respective income of such investments are used in the objectives of Patronos. Our main objective was to help Patronos with the more efficient tax structure for the development of its activities, advising on the tax treatment of donations, procedures for tax exemptions and other measures to implement the project.


At BMA we believe that people make us what we are. Investing in our professionals’ training is key to providing excellent service to our collaborators and clients. Our program BMA Education was designed with the support of the Saint Paul Business School, is intended to give our professionals the training they need to be “BMA Lawyers”: the focus is on excellence, quality and providing a valuable learning experience.


BMA Education effectively enables our lawyers to become better qualified, more insightful, curious and multidisciplinary, and more keenly interested in applying theoretical knowledge to the efficient solution of real problems. BMA Education offers 32 subjects each year, and it represents our seal of excellence and quality – BMA Quality.


Our professionals are our most valuable asset, and so we also have programs that focus on practical career development, and we frequently hold internal events to share professional experiences and make practical legal knowledge available to all our partners and associates.


Created in 2011 as part of the BMA’s Intern Program, Roda Viva provides a space for our senior partners to share their experience with our interns. Twice a year, interns are welcomed to an informal chat with senior members of the firm, to talk about subjects such as careers, professional concerns and aspirations, and personal and professional lives.


Project Cases is another initiative implemented to allow all attorneys to benefit from knowledge gained in BMA’s most successful cases, forming a type of collective memory of the firm’s leading transactions. The project is conducted by partners involved in the cases and highlights the insights they gained in each matter.


Thanks to our solid relationships with some of the best law firms in the US, the UK and other European countries, along with BMA’s bursary program and our partners’ international contacts, we encourage associates to study at top universities abroad and to extend their experience through internships and visiting associate placements with firms abroad. In parallel, here in Brazil, we are ready to welcome foreign lawyers interested in gaining experience with BMA – a reference in the local legal market – and promoting cultural and legal exchanges.

We are signatories to the Global Compact, the largest business sustainability initiative in existence. In doing so, we became one of a network of enterprises and organizations that have chosen to adopt a sustainable business model, with more than 1000 members in Brazil and 15,000 around the world.

Our firm is committed to making the Global Compact and its 10 universal principles a pillar of our strategy, culture and practices, to sustain not just our business, but especially our society and our planet.

Please check our 2022 Social Responsibility Report here.