Ecuador has a small, consolidated legal market. Pérez Bustamante & Ponce Abogados is by far the largest player, invariably landing a place on the country’s biggest transactions. It has solid contenders in a new-look Bustamante & Bustamante and steadily growing Ferrere, which are both winning an increased amount of cross-border deal work. Those firms lost a prime competitor in terms of headcount in Corral Rosales Carmigniani Pérez, which split into its legacy firms a couple of years ago. Both firms remain core members of the market, albeit smaller in size.