Ritch Mueller marked its 50th anniversary in 2025 not with nostalgia but with dominance. The firm outpaced rivals across both deal volume and transaction value, cementing its position as Mexico’s most consistently influential legal adviser over the awards period.
Founded in 1975 as a boutique serving foreign banks operating in Mexico, Ritch Mueller has evolved into a full-service powerhouse with more than 100 attorneys, 23 partners and 13 practice areas spanning the core sectors of the Mexican economy. That depth of bench translated directly into results in a year defined by sovereign financings, complex restructurings and a gradual reawakening of private-sector activity.
“The change has been enormous during these five decades, but we have remained the same in our essence, putting our clients first by offering the best service available in the market,” says partner Pablo Perezalonso.
The firm advised on a dizzying number of transactions in 2025, with major deals alone exceeding $62 billion in aggregate value. Its mandate list ranged from banking and telecoms to energy and real estate, reflecting both market breadth and institutional trust. That scale and range underpin Ritch Mueller’s selection as Law Firm of the Year in Mexico.
Several transactions stood out for their size, technical complexity and policy significance. On the public-sector front, Ritch Mueller played a central role in the Mexican government’s renewed financing strategy for Petróleos Mexicanos (Pemex). Following the launch of a new framework under President Claudia Sheinbaum’s administration in early 2025, the firm advised on a $9.9 billion capped tender offer to repurchase 11 international bonds maturing between 2026 and 2029.
“The Pemex transaction and other operations with the sovereign were very relevant during the past year,” Perezalonso says. “They could be called emblematic because of their size and complexity.”
Beyond Pemex, the firm worked on multiple sovereign bond offerings and on the $4.5 billion follow-up financing for the Mexico Energy Investment Fund (Fideicomiso de Inversión en Energía México, or Fiemex). The public-private trust was created in 2024 when the Mexican state acquired power generation assets from Spain’s Iberdrola, and its refinancing marked one of the largest energy-linked capital markets operations of the year.
Private-sector work also remained robust. While equity capital markets activity was muted and IPOs were scarce, M&A and real estate transactions gained momentum as confidence slowly returned to corporate boardrooms.
“It was a slower year for capital markets, including IPOs, but we were there when they did happen,” Perezalonso says.
Financial institutions continued to form a core pillar of the firm’s practice, but the profile of those clients is changing. Ritch Mueller’s long-standing relationships with traditional banks have expanded to include digital banks and fintech platforms seeking regulatory approval and market entry.
One of the most consequential mandates of the year was advising Brazil’s Nubank on securing a full banking license in Mexico for its local subsidiary, Nu Mexico. The authorization, granted in April 2025, marked a watershed moment for the sector.
“This was a milestone in the banking sector. It is the first Sofipo (financial society) to get approval as a full bank,” Perezalonso says.
He adds that competitive pressure from non-traditional players is reshaping Mexico’s financial landscape. “There are many other entities looking to compete with traditional banks and they are making quick inroads with the younger population.”
Looking ahead, Ritch Mueller expects two forces to dominate its agenda: sustained sovereign financing needs and continued growth in fintech and digital banking. The firm is also watching policy signals in the energy sector closely.
Perezalonso says that if Mexico adopts a more open approach to private participation in power and infrastructure, it could trigger a new wave of project finance and M&A activity.
As Ritch Mueller enters its sixth decade, its combination of institutional memory and deal-making momentum has rarely been stronger. In a year defined by complexity and transition, the firm did not merely keep pace with Mexico’s evolving economy—it helped shape it.