HISTORY

Early Last Century

In 1905, Francisco Carey (1873-1946) begins to practice law independently in Antofagasta, a major business center in the north of Chile. His law firm grows steadily and his clients include the major mining and nitrate companies of the time. One of such clients, the Antofagasta-Bolivia railway (FCAB), a U.K. corporation whose stock is still traded on the London Stock Exchange, and has been counseled by four generations of attorneys of the firm to this day.

In 1935, Francisco's son, Guillermo Carey (1912-1999) opens a branch of the firm in Santiago. At the same time, he becomes a professor of Economic Law at the Universidad Católica de Chile, where he continued to teach for over thirty years. The negotiation room of the law school is named after him.

The firm’s Santiago office becomes one of the leading legal practices in Chile. It experiences significant growth, in terms of both number of lawyers and clients. The firm plays a role in most of the major transactions of the decade. Its foreign clients include Anaconda Copper Company, Anglo Lautaro Nitrate Company, Cerro de Pasco Corp., IBM, Koppers Co., Ford Motor Co. and Procter & Gamble. Its Chilean clients include Antofagasta PLC, Grupo Yarur and Embotelladora Andina.

Guillermo Carey continues to lead the firm and assumes, also, the legal department of Banco Sud Americano, from which becomes Chairman of the Board in the '60s.

Guillermo Carey advises the Government of Chile in mining and international trade matters. He is also appointed as the lead negotiator of a free trade agreement with India, whose delegation was led by Prime Minister Nehru and his daughter Indira Gandhi. Guillermo Carey was the author of the “Law of the Escudo” (the currency that replaced the Chilean peso for 15 years), He was also one of the authors of the current Chilean Tax Code. Additionally, at the request of President Jorge Alessandri, he renegotiated the Chilean foreign debt in 1959. Neither he nor the law firm charged any fees for the work performed in the interest of Chile.

In this period, many other members of the law firm served in the interest of Chile. One of them, Alfonso Campos Menéndez, served in the Chilean Congress from 1949 to 1953.

In the 50’s, the firm's leaders include Guillermo Carey, Alfonso Campos Menéndez, Guillermo Ramírez, Carlos Urenda, Jorge Fernández and Gustavo Rosselot.

The firm keeps growing with the support of new generations of lawyers. With this growth, Carey y Cía. expands its practice areas, with a strong emphasis on mining and corporate matters. Large industrial and mining companies become clients, including Braden Copper Company, the owner of El Teniente mine (now owned by Codelco), Embotelladora Andina, Compañía Sud Americana de Vapores, Banco Continental, Banco Sudamericano, Celulosa Arauco, Minera Pudahuel, Fensa/Mademsa, the Briones Group, Sperry Rand and Wyeth Laboratories.

In 1967, the firm moves to the top floor of the IBM building, at Agustinas 1235.

In 1971, Carey y Cía. merges with another Chilean law firm. This merger is terminated in 1976 and the lawyers and clients of Carey y Cía. return to the firm, which is relaunched in 1976, which in that year is established in its present form. Carey y Cía. adopts a business and governance model based on the leading U.S. and U.K. law firms, where the only consideration to become a partner is professional merit. At this time, the current policies for recruitment, promotion and retirement of partners were set. Carey establishes new offices at Huérfanos 979. In 1978, Carey y Cía. represents Exxon Corporation in the purchase of the mine Disputada de Las Condes. This transaction initiates the Chilean privatization process after the expropriations of the Allende Administration (1970-1973) and signals the return of foreign investment into the country. The firm is also involved in a significant number of other privatizations, including a leading cement company, Cemento Melón, and the largest mining explosives company of South America, Enaex S.A.

Chilean financial market liberalization and declining interest rates contribute to an abundant supply of credit in Chile. Under the leadership of Jorge Carey, the firm experiences an increase in its number of financial services clients. These clients include World Bank, the International Financial Corporation, UBS, HSBC, Bank of America, Midland Bank, Standard Chartered Bank, Citibank, American Express Banking Corporation, Banco de la Nación Argentina, Eximbank, OPIC, EDC, KFW, Libra Bank, and others. Carey y Cía. becomes one of the Chilean firms that represents the country’s public debt foreign creditors during the Latin American debt crisis of 1983.

As a result of this crisis, the firm represents numerous creditors of companies in bankruptcy or with financial difficulties, including Firestone Chile and El Mercurio, which leads to major financial reorganization processes.

In 1981, Carey y Cía. moves to the top floors of the Fundación Building, at Miraflores 178, near the foot of Cerro Santa Lucía.

In 1985, Jorge Carey is elected as Chairman of the Executive Committee.

American Depository Receipts (ADRs) and bond issuances begin in the U.S. market and Carey y Cía. advises many Chilean issuers, including Laboratorio Chile, Embotelladora Andina, Banco Osorno and Banco Edwards.

During the strong mining boom, the firm is actively involved in many of the mining project’s financings, in bidding processes involving mining properties, and in the subsequent development of these projects.

Carey y Cía. also further strengthens and develops specialized practice areas, with special emphasis on mergers and acquisitions, energy, telecommunications, litigation, intellectual property, competition law, labor law, engineering and construction, consumer rights, and natural resources, among other. At the end of the decade, the firm’s tax group becomes one of the leading tax practices in Chile, under the leadership of Jaime Carey and Ricardo Escobar. In 2006, Escobar was named National Director of the Chilean Internal Revenue Service.

In 1990, the firm’s office is located in the Las Americas Building, at Miraflores 222.

During the administration of President Eduardo Frei Ruiz-Tagle, the firm plays a key role in the privatization of utilities and in public works concessions (toll roads, ports and other public-private partnerships or PPPs). It also plays a role in negotiating contracts to develop pipelines to bring gas from Argentina to Chile.

In 1995, the firm’s management leads an important professionalization project of the administration and introduces cutting-edge technology, both at the level of legal and administrative services. With 26 attorneys, Carey Cía. becomes the largest Chilean law firm in terms of number of lawyers, a position that it continues to hold today. In 1996, that number rises to 34, in 1998 to 49, in 1999 to 60, and to 74 at the turn of the Millennium.

In 2002, at the personal request of President Ricardo Lagos, Carey y Cía. assumes, pro bono, the defense of the State of Chile in the Clarín Case. This was an ICSID investment arbitration case involving the largest claim ever filed against Chile.

Throughout the decade, Carey y Cía. participates in many of the largest M&A transactions in Chilean history and in multiple landmark antitrust cases. The firm also develops a criminal law group and expands its international arbitration group.

That same year, Jaime Carey is elected as Managing Partner of the firm.

Jorge Carey was recognized for his professional achievements with the "Lifetime Achievement Award" from Chambers and Partners in 2007, and the Leader of the Year in Latin America by Latin Lawyer in 2008.

In September 2010, Carey y Cía. changes its name to Carey and moves to its new offices located in the Titanium Building, in the El Golf financial district.

In 2012, Carey is recognized as Latin American Law Firm of the Year by Chambers Latin American, one of the most prestigious legal publications worldwide.

In 2016, Jorge Carey receives the Lifetime Achievement Award granted by Latin Lawyer in recognition to his career.

In 2017, Carey becomes the first law firm in Chile to have all its practice areas ranked in Band 1 and is the best evaluated law firm in the LatAm region by the prestigious European publication Legal 500.

In 2021, Jaime Carey is appointed Secretary General of the IBA, and in 2023, its Vice President.

In 2022, Carey is once again recognized as the Latin American Firm of the Year and Chilean Firm of the Year in the Chambers Latin America 2023 guide.

Currently, the firm has more than +280 professionals in its legal area and nearly 600 people in total.