About

Millennium bcp is Portugal’s largest listed bank and the international branch brand of Banco Comercial Português. It has, like most of the financial services market in Iberia, suffered difficult times in recent years, but the legal team’s outstanding work in fields such as litigation and credit recovery has been noted by several nominators. One nominator pointed out that, ‘in the face of an increasing regulatory burden, tough operating conditions and growing legal risks in both Portugal and overseas markets, the legal team has consistently been of the highest quality’. The team has also made great effort to handle as much work as possible internally in order to reduce the cost of legal service provision during this challenging market environment. The bank has also attracted interest from outside Portugal. Following Fosun’s acquisition of a 16.7% stake in Millennium bcp in late 2016, the Chinese conglomerate announced it would increase its holding to 30% in early 2017, marking the year’s first rights issue for a European bank.