Chile: Guillermo Morales and Eugenio Besa exit Morales & Besa to launch new firm amid market reshuffle

Chile’s legal market is entering a period of recalibration, as structural shifts among established firms and emerging players begin to alter competitive dynamics. Against this backdrop, one of the most consequential recent developments has been the departure of two founding figures from a leading domestic firm.

An unexpected announcement, delivered without transition or prior signalling, disrupted Morales & Besa: its co-founders, Guillermo Morales and Eugenio Besa, tendered their immediate resignations and, in parallel, moved forward with the launch of MBE Abogados, a new venture staffed by a significant portion of their former team and client base.

The resignations, effective 6 April, bring to a close more than three decades of leadership since the firm’s establishment in 1992. They also trigger a dual process: internal reorganisation at the legacy firm and the market entry of a direct competitor led by the lawyers most closely associated with its brand.

The decision was communicated during what had been expected to be a routine partners’ meeting. Instead, Morales and Besa presented an immediate and irrevocable exit, foregoing any phased transition. The abruptness of the move took the partnership by surprise, particularly given that internal retirement frameworks were already in place for the near term.
Market sources indicate that the departure followed months of internal friction, primarily related to differing views on extending professional activity beyond the firm’s mandatory retirement provisions. The announcement ultimately formalised a rupture that had been developing over time.

The aftermath was swift. Lawyers from the practice groups led by Morales and Besa began to resign, while a number of clients elected to transfer mandates to the newly formed firm. In response, the legacy firm has initiated retention efforts aimed at stabilising both talent and client relationships, acknowledging that some level of attrition is unavoidable, albeit contained.

From a governance perspective, Morales & Besa remains operationally stable. Its executive committee—renewed in 2025—continues to oversee strategy and management under an institutional framework designed to accommodate leadership transitions. The departing partners had already stepped back from day-to-day management, mitigating immediate operational disruption.

Nevertheless, the exit of the name partners introduces a material reputational variable, given their longstanding association with the firm’s market positioning. Internally, the situation is being framed as an opportunity to elevate the next generation of partners, particularly in finance and capital markets. The future of the firm’s branding remains under consideration.

Simultaneously, Morales and Besa have launched MBE Abogados, which commenced operations on the same date as their departure. The new firm brings together a team of more than ten lawyers, including partner Valentina Morales, name partner Manuel José Eyzaguirre, and several associates transitioning from their previous firm.
The boutique is focused on M&A, capital markets and labour law, with additional capabilities in litigation, projects, finance, tax and intellectual property. It is structured around lean teams, high partner involvement and advice closely aligned with clients’ commercial objectives.

This positioning reflects growing demand for specialised, partner-led legal services, as well as increased pressure for efficiency driven in part by technological adoption, including artificial intelligence.

In this context, the departure of Morales and Besa not only reshapes the internal dynamics of their former firm but also introduces a new competitive axis in the Chilean legal market. The evolution of both Morales & Besa and MBE Abogados will be closely watched as a test case for broader shifts within the jurisdiction’s legal sector.