Miranda & Amado has expanded its banking and finance and restructuring and insolvency practice with the hire of Eduardo Wiese as counsel. Weise joins the firm from Castellares Abogados.

Wiese's hire comes at a time of slow economic growth and adverse global economic conditions, which have increased the demand for restructuring and insolvency legal expertise in Peru.

This past December, the firm also hired restructuring and insolvency lawyer Renzo Agurto as counsel from Rebaza Alcázar & De Las Casas, also based in Lima.

“It’s not a secret that the growing economy has some challenges and Peru’s not an exception,” co-head of the financial area and the insolvency and restructuring practice Rafael Corzo said. “We have relations with China, and also many commercial relations with Brazil and the economic problems and slow down of their economies have and will generate some problems in Peru in the future.”

Still, although the economy grew just about 3.3% in 2015, Corzo expects that the upcoming years will bring economic changes and growth to Peru, also creating plenty of work for banking and finance lawyers.

“There is going to be a consolidation process of some banking and financial entities, and some foreign investors are going to try to get in the market. There will be a lot of work on regulatory matters because of the new requirements of capital for banks and financial entities, based on Basel III requirements,” Corzo said.

For most of Wiese’s career, he worked at BBVA Banco Continental as in-house counsel doing corporate work. He served as stock representative and head of one of the bank’s Adjunct Legal Departments.