Services soar: businesses in every industry draw support from multilingual firms with international experience

South Florida CEO, Jan-Feb, 2005 by Richard Westlund

When Regions Bank arranges large-scale syndicated loans for Latin America clients, its Miami-based team relies on White & Case, one of the larger internationally oriented law firms in Miami-Dade County. "We sink or swim by the quality of the documentation for our deals," says Anthony J. Chisena, a senior vice president and manager of the international structured finance group in the bank's international division.

From international law firms to accounting, architecture, advertising, computer services and staffing, Miami-Dade is filled with thousands of professional service firms.

Because many of Region's loans have special provisions--rather than "plain vanilla" debt instruments--it is important for the bank to work with a law firm like White & Case that has both a local office and an international network. "It affords us additional credibility to have the documentation prepared by attorneys familiar with the local markets," Chisena says.

Victor Alvarez, a White & Case managing partner, has played a leading role in finance transactions such as a recent $300 million securitization by Brazilian iron-ore giant Companhia Vale do Rio Doce and a $500 million term loan to Companhia Siderurgica Nacional, a Brazilian steel company.

"Through our various engagements in the region, we see leading Latin American companies regaining the confidence of traditional financial players and being able to complete major refinancings or restructurings," Alvarez says.

Another professional firm with an international focus is Bruno Elias & Associates International (BEAI), a 44-employee Miami port planning and infrastructure architectural firm. Several years ago, Royal Caribbean selected BEAI to retrofit its three terminals in the Port of Miami. "We looked at their new cruise vessels and re-thought how to best move passengers on and off their ships," says BEAI principal Bruno Elias Ramos. Together with Royal Caribbean's in-house team, BEAI came up with an innovative "sails" design for the project.

Ramos says the firm's work extends up and down the North American coasts and into Europe, Asia and Latin America, with current projects in Spain, Italy, Singapore and Puerto Rico. "From our perspective, the same caliber of professional services can be offered on both a local and international level from South Florida," he says.

Hundreds of firms specialize in the international arena with staff who speak multiple languages and are familiar with Latin American and Caribbean cultures.

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As a result, companies that are new to Miami-Dade can draw upon experienced professional assistance in virtually every phase of their operations.

"Over the last several months, we have helped several multinational companies that have set up operations in South Florida and needed property casualty insurance or health benefits programs," says Tom Cornish, president of Seitlin, an insurance brokerage company with offices in Miami and Fort Lauderdale. "We have developed a strong niche in serving the needs of multinational subsidiaries who operate in our region."

Executive search firms provide another form of support for Miami-Dade's multinational and local organizations. "We conduct many searches for multinationals in South Florida," says John Mestepey, an AT Kearney Executive Search vice president and the managing director for the firm's seven-person Miami unit. "We are generalists, so one day we may be working for a biopharmaceutical company, the next day it's retailing or real estate."

Ann Machado, president of Miami-based Creative Staffing, agrees that Miami-Dade's large Spanish-speaking workforce is an asset for companies at all levels, from multilingual receptionists to computer experts who can assist clients in their native languages. "If you want an administrative assistant who speaks Spanish, German and English and is familiar with Argentina," she says, "chances are good you can find that person in our labor pool."

Average 2004 Salary by Sector

Other Services                       $32,872

Specialized Design                   $48,936

Management and Technical Consulting  $57,160

Legal Services                       $63,732

Computer Systems & Related Services  $61,208

Architectural and Engineering        $47,316

Advertising and Related Services     $50,804

Accounting Services                  $50,472

Note: Table made from bar graph.