Amid Immigration Jitters, Cozen O'Connor Hires EB-5 Pro From Fox
Carrasquillo joined Cozen O'Connor's New York office, the firm announced Monday. His practice focuses on corporate finance, real estate and infrastructure development, with an emphasis on Puerto Rico and Latin America.
The move comes just weeks after one partner and two associates from Fox Rothschild's Miami office moved to Cozen O'Connor. Scott Bettridge, Michael Stevenson and Daniela Berisiartu Barshel are part of the labor and employment practice. Like Carrasquillo, their practice includes infrastructure development, advising U.S. and foreign businesses on corporate finance, and the EB-5 immigrant investor program.
Slightly more than half of Carrasquillo's work deals with the EB-5 program, he said. He worked very closely with Bettridge's team at Fox Rothschild, he said, and plans to continue after his move.
"The ability to be able to join the rest of our group down in Miami gives us a lot of synergies and a critical mass," Carrasquillo said. "One of the things we're able to do is help our clients with EB-5 from A to Z."
Given the nature of his practice, he said, he will spend some of his time on Miami. But having a New York presence is also crucial for access to capital markets, Carrasquillo said.
Jeffrey Leonard, chairman of Cozen O'Connor's business law section, said Carrasquillo's addition comes as many firm shareholders are placing a high priority on the corporate and transactional practices. And, he said, Carrasquillo's collaboration across practice areas with his Miami colleagues serves as an example for the firm.
"We spend a lot of time trying to break down silos and get people to work collaboratively," Leonard said. "The fact that Roy and the folks in Miami had kind of sua sponte tried to create that model for themselves, as a microcosm of what we're trying to do, was attractive to us."
As for the immigration-related work, Leonard acknowledged the ongoing uncertainty related to President Donald Trump's recent executive order and "America first" platform.
"You've got to wait and see. There's a ton of rhetoric right now, there's a lot of controversy," Leonard said. "We're looking at investing in the future and not being dissuaded by what may be temporal conditions."
Carrasquillo noted that EB-5 programs are focused on job creation and economic development, which seem to be top-of-mind for the new presidential administration, regardless of immigration policy.
Cozen O'Connor has more than 600 attorneys while Fox Rothschild has more than 750, according to each firm. But Cozen O'Connor has a higher head count in its New York and Miami offices, according to the firms' websites. Both are based in Philadelphia.
Fox Rothschild did not respond to a request for comment on Carrasquillo's departure by press time.
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