New partner strengthens Demarest’s Financial Innovations area

Marcus Fonseca will work in the fintech, payment systems and financial market infrastructure segment

With the aim of further expanding its operations in the Financial Innovations area, Demarest Advogados, one of the most respected full-service law firms in Brazil and Latin America, announces Marcus Fonseca as its new partner, in line with its strategic planning and the growing demand in the sector.

The country’s financial system is undergoing constant transformations, marked by the increase in technology and the advancement of regulations, which contribute to the evolution of the sector, influencing new business models and creating new opportunities. By the first half of 2024, Latin America had 2,712 active fintechs, with 58.7% of these startups being of Brazilian origin. Brazil leads in the volume of investments made in the region, representing more than USD 10 billion raised by the country’s fintechs, according to data from the innovation hub “Distrito”.

With 15 years of experience in the sector, Marcus will work in the banking and financial practice area, focusing on providing services and consulting related to the payment system, fintechs, virtual assets, crowdfunding, Open Finance, regulatory sandbox and blockchain technology, in addition to the development of new structures and business models.

The new Demarest partner also advises clients on the creation of legal instruments, internal policies and the establishment of financial and payment institutions, regulatory aspects, among others. He also provides consulting on matters related to foreign exchange transactions, derivatives, securitization, fund formation and compliance by financial institutions with relevant rules and regulations.

With a master’s degree in Business Law from FGV Direito SP, Marcus also holds a postgraduate degree in Business Law from the same institution and a law degree from PUC, Paraná. He has worked at Skadden, Arps, Slate, Meagher & Flom LLP in New York and at JP Morgan Bank in Brazil.

“The more challenging economic outlook, both in Brazil and worldwide, has not prevented financial and payment institutions from developing new products and promoting financial democratization. The speed of innovation in the financial sector, especially in areas such as fintechs, payment methods, virtual assets and Open Finance, requires increasingly specialized legal support to ensure that new digital products and services are launched in accordance with current regulations, without compromising consumer security and the stability of the financial system”, says Marcus.

For Fabio Braga, Demarest partner in the Banking and Finance practice area, the hiring of Marcus is an important reinforcement for the team in a context of growing demands and regulatory challenges. “With the legal framework for cryptoassets, the evolution of financial platforms, and initiatives such as Pix, the digital currency Drex and the development of Open Finance, the work of specialized lawyers in this field becomes increasingly important”.

The expansion of the Banking and Finance area, with a focus on the Financial Innovations segment, is in line with the firm’s strategic plan for the period 2024 to 2026, with the aim of expanding business in a sustainable manner, highlights Paulo Coelho da Rocha, managing partner and partner at Demarest. “Marcus is a recognized professional in the market and his work will be complemented by the experience of our other areas, thus enabling the development of new businesses and the continuity of excellent service to our clients”.

Since the second half of 2023, Demarest has intensified its expansion in the legal market. With the arrival of Marcus, the firm now has 99 partners working in more than 50 areas of law to serve more than 1,500 clients in Brazil and abroad.