Angara Abello Concepcion Regala & Cruz (ACCRALAW)
Founded in 1972, Angara Abello Concepcion Regala & Cruz (ACCRALAW) is the country’s top-tier firm which is headquartered in Manila and has full-service branches in Cebu City and Davao City.
The firm is best known for its banking and finance, capital markets, corporate and M&A, intellectual property, tax and employment practices. It is also regularly consulted by the Philippine Senate and House of Representatives, the Bangko Sentral ng Pilipinas, the World Bank and the Asian Development Bank, and invited to assist in legislative and regulatory work.
The firm's recent deal work highlights its role in major financial and cross-border transactions. This includes advising Bank of the Philippine Islands (BPI), a top-five universal bank in the Philippines, on its merger with Robinsons Bank Corporation.
In another standout global mandate, the firm acted for Global Infrastructure Partners (GIP) on a Philippine merger control notification for the largest announced global merger of 2024.
Bank of the Philippine Islands, House of Investments, Analog Devices General Trias, Agellus, Global Infrastructure Partners, Philippine Commercial Capital, Century Properties, and BDO Capital & Investment Corporation.
Gatmaytan Yap Patacsil Gutierrez & Protacio
Established in 2007, Gatmaytan Yap Patacsil Gutierrez & Protacio (C&G Law) is a full-service law firm located in Makati. It is a member firm of Rajah & Tann Asia, Southeast Asia’s largest legal network.
The firm specialises in corporate and commercial transactions, litigation and arbitration, taxation, labour and employment. It is particularly active in the energy, real estate and technology industries.
Recent examples of the firm’s deal work include advising The Coca-Cola Company, its affiliates, and Coca-Cola Beverages Philippines (CCBPI) on the US$1.8 billion sale of 100% of CCBPI to a joint venture of Coca-Cola Europacific Partners and Aboitiz Equity Ventures. The firm handled the M&A aspects and secured clearance from the Philippine Competition Commission for this major transaction involving the country's leading bottler and a globally iconic brand.
In another standout mandate, the firm advised on an over US$1 billion LNG infrastructure project, developing the Philippines' first offshore natural gas terminal. This pioneering mandate, involving both onshore facilities and a floating storage regasification unit, required a comprehensive understanding of multiple Philippine legal disciplines to bring the nation's first-of-its-kind energy solution to fruition.
OceanaGold (Philippines), First Gen Corporation, The Coca-Cola Company, and Coca-Cola Beverages Philippines.
“They have a very attentive and hardworking team. They offer very good value for the type of services they provide.”
“Very attentive, very good client management, and they provide relevant and practical advice.”
“He is good at client management, legal advice and litigation handling.”
“He is very good at client management; vast network and knowledge in the Philippines and in the Southeast and Eastern Asia.”
GRUBA LAW
Founded in 1993, Gruba Caganda Advincula Melo & de la Fuente (GRUBA LAW) is a mid-sized, full-service law firm with expertise in banking and finance, and mergers and acquisitions. The firm is in a strategic alliance with WongPartnership in Singapore, and it boasts sole Filipino membership of the WPG law network.
The banking team maintained an active practice, advising financial institutions on regulatory compliance and other retained matters.
In M&A, the firm represented acquirers in transactions across sectors such as manufacturing and energy.
The restructuring and insolvency practice also saw activity, advising on several corporate restructuring matters.
Bernhard Schulte, Fasttrack Solutions, 65 Equity Partners, Vivant Energy Corporation, AUB, and PBCOM.
“English proficiency was quite good, and they were responsive to tight deadlines.”
“English proficiency, fees are well managed, responsive to tight deadlines.”
Gulapa Law
Founded in 2015, Gulapa Law is a leading boutique firm with offices in Manila, Cebu, New York, San Francisco and Ho Chi Minh City. Through its affiliations with prestigious organisations like One Asia Legal and IR Global, the firm is highly active and recognised in key practice areas including projects and infrastructure, energy, corporate M&A, construction and real estate, and banking and finance, with a strong focus on public-private partnership (PPP) projects.
Recent examples of the firm’s deal work include advising First Balfour in preparing one of the first unsolicited proposals under the new Philippine PPP Code for a high-capacity bus system in Iloilo City.
The firm also advised Infracorp Development on its unsolicited proposal for the Fort Bonifacio-Makati Skytrain – a complex 1.87km cable-propelled transit system designed to alleviate severe congestion between Guadalupe station and uptown Bonifacio.
In restructuring, the firm guided Philphos through a US$236 million financial rehabilitation, one of the largest under the new Financial Rehabilitation and Insolvency Act (FRIA). This highly complex matter involved negotiations with over 30 creditor law firms and required innovative legal strategies to secure insurance proceeds for the client.
CCL Label Industries Philippines, Philippine Phosphate Fertilizer Corporation, Aboitiz Solar Power, ACEN Corporation, MetPower Venture Partners Holdings, Ayala Land, and Asian Development Bank.
“Promptness in providing feedback. Flexibility in making our positions work.”
“The team is very responsive and knowledgeable about the specific areas we are working on.”
“The team showed strong expertise in Philippine regulatory and land law. Their analysis was clear and practical, and they were responsive throughout the due diligence process. We appreciated their ability to identify key risks and provide actionable recommendations.”
“They are expert in government contracts.”
“They have a deep understanding of the Build-Operate-Transfer (BOT) Law and the Philippine public-private partnership (PPP) process.”
Restructuring and insolvency
“Their team demonstrates deep expertise in the Financial Rehabilitation and Insolvency Act (FRIA), its implementing rules, and their interplay with other laws. This mastery is evident in their high-quality pleadings, which are always thoroughly researched, legally sound, and strategically precise.”
“Aris is fantastic! One of the Philippines' best PPP lawyers.”
“Finds support for the positions that we want to further.”
“He consistently protects the best interests of the company. He knows the rehabilitation case thoroughly, including the various claims involved. In court, he comes well-prepared, not only with strong legal expertise but with a deep understanding of financial rehabilitation laws and procedures. He is also very familiar with the company’s status and the overall rehabilitation proceedings, both before the Rehabilitation Court and in related cases before other courts.”
“He is the expertise on government contracts.”
“Responsive and attentive to details, works fast, cares about the deal.”
“Dake is highly responsive and provides clear, well-structured legal advice. He demonstrates strong knowledge of local regulations and is able to explain complex issues in a practical and concise way.”
MOSVELDTT Law
Founded by Alfredo Molo III in 2009, MOSVELDTT Law Offices is a full-service Pasig City firm with a distinct market position. It is the only firm to lead securitisation projects in the Philippines.
It has extensive experience advising digital and rural banks that serve farmers, fishermen and small businesses. The firm's expertise also encompasses a wide range of complex transactions, including taxable and tax-free mergers, acquisitions, spin-offs, and buyouts.
The firm advised on the development of a bus system. The project is legally innovative for its unique framework, which involves the Land Transport Franchising and Regulatory Board (LTFRB) issuing the franchise directly to a Local Government Unit, a novel structure under Philippine law.
National Home Mortgage Finance Corporation, UnionBank of the Philippines, Union Digital Bank, First Circle Growth Finance Corp., and Asian Development Bank.
“The firm exhibits strong appreciation of the nuances of working within the Philippines context, understanding the sentiments and priorities of stakeholders. They are able to unpack complex issues into simple actionable items, they are responsive and professional, with a dynamic and committed team.”
“The firm provided excellent service, through clear, practical advice that we found was effective. They were highly responsive and always proactive in helping us think through possible legal issues. Their ability to explain complex matters in a simple way and offer well-thought-out strategies was extremely valuable throughout the project.”
“He is a strong communicator with a robust knowledge of the industry and the legal nuances around it. He is a problem solver with insightful ideas and innovative solutions. He has strong knowledge of capital markets, government procedures, and the energy sector.”
“He combines deep expertise in corporate and banking law with a practical and solutions-oriented approach. He is consistently knowledgeable, clear, and reliable, even when managing multiple complex matters. Despite his demanding schedule, he remains approachable and easy to engage with, which makes working with him both efficient and collaborative.”
“He consistently produces well-thought-out and carefully crafted legal work. His advice is not only sound in law but also commercially attuned. Notably, one of his legal drafts was reviewed by a respected Philippine legal luminary, who described him as a brilliant corporate lawyer – an endorsement that speaks highly of the depth and quality of his work.”
MVGS - Martinez Vergara & Gonzalez Sociedad
Founded in 2001, Martinez Vergara & Gonzalez Sociedad (MVGS) is a full-service firm based in Pasig City with a strong reputation in the financial and corporate sectors. The firm excels in capital markets and maintains formidable practices in banking & finance, corporate & M&A, and project development.
In a landmark mandate, the firm advised on the project financing for Vena Energy’s 550MW Bugallon solar power project in Pangasinan. The green loan facility represents the largest solar power project financing in the Philippines to date.
Another example includes advising Crown Equities in its Philippine Stock Exchange listing application for treasury shares, a complex matter involving regulatory nuances from a pre-ruling merger.
BDO Capital & Investment Corporation, Steniel Manufacturing Corporation, Crown Equities, Calumpang Packaging Corporation, Filoil Energy Corporation, and Asia United Bank.
“They provide clear, pragmatic advice that achieves the ideal objectives. They are very goal-oriented. They came up with a solution that no one else thought of, and it saved a lot of administrative effort. I also think that their ability to talk people 'off the ledge' when tensions are high is a key competitive strength. They're also very approachable and they place a high emphasis on client service.”
“They provide professional legal service, through a competent team that is adequate in number and expertise.”
“She gives clear, pragmatic advice and is able to manage her clients and counterparties very well.”
“He provides expert, professional and immersive legal services to our company and organization. He is accessible and an action-oriented lawyer. He leads well the MVGS team that provides personalized legal support to our company.”
PunoLaw
Founded in 1984, PunoLaw is a full-service law firm located in Mandaluyong City. The firm is a member of the executive and legislative branches of the Philippine government.
Focusses / specialisms
The firm is best known for its energy and power, infrastructure, banking, project finance, property development and mining sectors.
Research period review:
33rd edition (2022/2023)
In staffing changes, the firm recruited Kristie Auriel T. Enriquez-Concepcion into the banking, capital markets, M&A and project development team as partner while senior partners Jose M. Layug Jr. and Richie Avigale R. Pilares in the project development team departed the firm.
Puyat Jacinto & Santos
Founded in 1997 and headquartered in Makati City, Puyat Jacinto & Santos (PJS Law)
is a full-service law firm that offers a comprehensive range of legal services in both established and emergent fields of practice.
Focusses / specialisms
The firm has established in-depth knowledge and extensive transactional experience in specialised fields such as energy, infrastructure, corporate/mergers and acquisitions, banking, finance and capital markets, and conflict resolution.
SERRANO LAW
Serrano Law was founded by legal expert Elmer B. Serrano in 2022. M&A is the top specialisation of the firm. The corporate team regularly acts as counsel on acquisitions involving both equity purchase and asset sale in the shipping, logistics, real estate, energy and retail sectors.
The firm advised BDO Unibank, as issuer, and BDO Capital & Investments Corporation, as adviser, on BDO's second ASEAN sustainability bonds issuance. This landmark transaction also represents the bank's largest single issuance to date.
The firm also advised BDO Capital & Investment Corporation as sole bookrunner, issue manager and underwriter for the proposed follow-on offering of Dito CME Holdings, the parent company of the Philippines' third major telecommunications provider, Dito Telecommunity. This transaction was the only successfully completed follow-on offering in the Philippines in 2024.
Gratia Capital, RYM Business Management Corporation, BDO Unibank, BDO Capital & Investment Corporation, 2GO Group, SM Investments Corporation, RYM Business Management Corporation, and Unioil Group.
“Serrano Law demonstrates a deep understanding of the legal and business context of our industry, which allows them to offer strategic, practical, and actionable insights. What particularly sets them apart is the way they collaborate seamlessly with the in-house counsel. Rather than simply providing legal opinions, they offer thoughtful, well-reasoned input that enhances our internal decision-making process.”
“His advice often anticipates potential legal and regulatory issues, helping us proactively manage risks.”
“In-depth knowledge of Philippines M&A legal needs.”
Villaraza & Angangco
Established in 1980, Villaraza & Angangco is a full-service law firm with recognised expertise in litigation, intellectual property and corporate and commercial law. It maintains an office in Taguig and holds membership of the ASEAN Plus Group.
The firm performs consistently well in banking and finance, M&A, project development, and restructuring and insolvency. Sectors of focus include renewable energy, healthcare, insurance, telecommunications, infrastructure, technology, pharmaceuticals and shipping.
The firm advised on DITO Telecommunity Corporation’s landmark US$3.8 billion project financing, one of the largest of its kind in the Philippines. This legally innovative transaction was highly complex, featuring a multi-jurisdictional financing structure and significant regulatory hurdles. The team secured extensive approvals from agencies like the National Telecommunications Commission and pioneered security arrangements that navigated the transition to the new Personal Property Security Act, creating a forward-thinking framework for future deals.
Other examples of the firm’s deal work include advising a foreign steel company on its establishment of an integrated steel mill in the Philippines. This complex mandate involves structuring multi-tiered investments, navigating stringent regulatory requirements for land use and port operations, and securing rapid approvals from multiple agencies.
Deutsche Bahn, Alternergy Mini Hydro Holdings Corporation, Skye Renewables Philippines, DITO Telecommunity Corporation, Rizal Commercial Banking Corporation, Coca-Cola Europacific Partners, and Manila Water Company.
“The team is experienced.”
Abuda Asis & Associates
Founded in 2007, local law firm
Abuda Asis & Associates is located in Makati and is led by managing partner Cornelio Abuda.
Focusses / specialisms
The firm is active in the financial and corporate space and is recognized for its banking and finance and corporate and M&A work.
The firm is experienced in sectors such as banking and financial services, food and beverage, energy, utilities, and automotive.
Key clients
Clients include JCA 1221 Holdings, Macay Holdings, Development Bank of the Philippines, Land Bank of the Philippines, and Almana Power Corporation.
Client feedback: 31st edition (2020/2021)
Banking and finance
"AAA Law's customer service was excellent. The firm fielded us with young, energetic, sharp, and responsive team which turn around requests and deliverables in a timely manner. They also made sure to be available on urgent matters, even under such short or immediate notice. AAA Law did not only focus on legal drafting deliverables, but they acted as real advisers in terms of dealing and addressing multiple issues and structuring around them. In project finance, documentation is superb, thorough, and solution-oriented. They are also very accommodating in providing legal advice and were easily available to draft the necessary agreements, waivers and consent letters. The output is excellent, requires minimal review from the borrower team."
"Knowledge of transaction. Quick turnaround. Approachable."
Cruz Marcelo & Tenefrancia
With two offices in Taguig City,
Cruz Marcelo & Tenefrancia has well established corporate and M&A and project development practices. Key figures in the firm include Manuel Manaligod, who serves as chairman, and Aida Araceli Roxas-Rivera, who serves as head of the corporate and special projects department.
Focusses / specialisms
In M&A, the firm provides advice on a range of matters including acquisitions, joint ventures, corporate divestments, buy-outs, dissolutions and spin-offs.
In projects, the firm has a focus on sectors including infrastructure, mining and energy. The firm has transactions across various sectors.
Key clients
Notable clients include Aboitiz Group, W Group, Unilever Group, ABS-CBN Corporation, Unicapital, Filinvest Development Corporation, Asian Terminals, and Dole Philippines.
Client feedback: 32nd edition (2022/2023)
M&A
"Experts on Philippine Law surrounding M&A and Stock Exchange requirements."
Gorriceta Africa Cauton & Saavedra
Founded in 2015, Gorriceta Africa Cauton & Saavedra has diversified practice across the financial and corporate space, with a particular focus on the technology, media and telecommunications sector. The firm has offices in Pasig City, Taguig City, Iloilo City and Davao City.
Focusses / specialisms
The firm’s key strength lies in its capital markets practice. It also provides advice on banking and finance, M&A and project development mandates.
Sectors of activity for the firm include fintech, technology, media and telecommunication, healthcare, food and beverage, transport and social infrastructures.
Key clients
Key clients include Dragonpay Corporation, DBDOYC, Yuchengco Group of Companies, D.M. Wenceslao & Associates, UBX Philippines Corporation, Acquiring Entity and Quiddity Usability Labs.
Client feedback: 32nd edition (2022/2023)
Financial services regulatory
"They are well versed and competent in interpreting the regulatory requirements based on the circulars and memorandums issued for fintech companies."
M&A
"Thorough knowledge of regulatory and other requirements of transaction."
Insights Philippines Legal Advisors
Insights Philippines Legal Advisors was founded in 2017 and is a member of the KPMG Law network. The firm is led by managing partner Felix Sy and has an office in Taguig.
Focusses / specialisms
The firm has a strong banking practice and also advises on corporate and M&A, project development and restructuring and insolvency matters.
The firm takes on clients from a variety of sectors and has a special focus in the fintech space.
Key clients
Recent clients include Berkeley, RedCargo Logistics and ENGIE Global Markets.
Meer Meer & Meer
Established in 1951, Meer Meer & Meer
is a Philippines-based boutique firm with an informal network of partner firms abroad, particularly in southeast Asia.
Focusses / specialisms
The firm’s corporate and M&A department are active in the startup and venture capital ecosystem. It also advises on cross-border joint venture agreements and franchise agreements between companies in the Asia-Pacific region.
Key clients
Notable clients include Foxmont Capital Partners, Wavemaker Partners, Singapore Medical Laboratories and Sarisuki Stores.
Client feedback: 32nd edition (2022/2023)
M&A
"Meer helped us throughout the process – from guidance to the work necessary to get the deal done. They provided valuable feedback on the terms of the deal."
"Their knowledge and appreciation of local regulations, specifically those related to our industry, greatly helped the buyer's appreciation of our business value."
Poblador Bautista & Reyes
Founded in 1994, Poblador Bautista & Reyes
is a full-service law firm based in Makati. The firm currently has 15 partners, 23 associates and two consultants and is led by founding partners Alexander J. Poblador, Mario Luza Bautista and Gilbert Raymund T. Reyes.
Focusses / specialisms
The firm is well networked in litigation and commercial arbitration, corporations, real estate and construction, intellectual property, media and telecommunications, anti-trust and competition, insurance and banking, insolvency and restructuring, family law, taxation and immigration.
In corporate and M&A, capital markets, and banking and finance work, the firm provides analysis and due diligence on companies in relation to asset acquisition, deal restructuring, public offering, share purchases, and loan and allied transactions, among others.
Key clients
Notable clients include United Overseas Bank, Fortune Brands Home & Security, Synergy Grid & Development Philippines, Oxford HR Consultants, SR Metals, Unisys, Alpha Aviation Group and Asian Terminals.
Client feedback: 32nd edition (2022/2023)
Restructuring
"They have a broad perspective on all legal matters. They partner with us in all cases that we refer to them, we feel sincerity and professionalism."
Quisumbing Torres
Founded in 1963, Quisumbing Torres is a well-known name in the Filipino legal market and a member of Baker & McKenzie International. The firm is headquartered in Taguig City.
Focusses / specialisms
The firm is recognised for its consistently high-quality work in banking and finance, capital markets, corporate and M&A, and project development.
The firm takes on mandates across a variety of sectors, including renewable energy, mining, transport, healthcare, technology and telecommunication, and banking and financial services.
Key clients
Notable clients include Alphabet, Allianz PNB, Changi Airport International, China Copper, Forever 21, GlaxoSmithKline, PruLife Insurance Corporation of UK, Prudential Corporation Asia and Pilipinas Shell Petroleum Corporation.
Client feedback: 32nd edition (2022/2023)
Project development
"Providing sound and practical advice."
"QT has been a reliable partner to us in providing sound information and advice that we use in expanding our new projects in the Philippines."
Rajah & Tann
Founded in 2007, full-service law firm Gatmaytan Yap Patacsil Gutierrez & Protacio (C&G Law) has offices in Makati City. The firm is a member of the
Rajah & Tann Asia network, the largest network of lawyers in southeast Asia.
Focusses / specialisms
C&G Law’s financial and corporate work focuses on transactions.
On banking and finance matters, it has acted for borrowers and lenders, both local and foreign, and assisted with structuring, documenting and closing lending, securities and other financing transactions.
The firm’s capital markets experience includes assisting with initial public offerings, private placements and other capital-building exercises. The team also frequently advises on market entry and regulatory compliance for various industries.
Key clients
Notable clients include SN Aboitiz Power, Mizuho Bank, Lendable SPC and AREIT.
Client feedback: 32nd edition (2022/2023)
Capital markets
"Rajah & Tann work well within very tight deadlines. They render comprehensive advice and opinions and coordinate well with the client by keeping open lines of communication."
Romulo Mabanta Buenaventura Sayoc & de los Angeles
With a history dating back to 1902,
Romulo Mabanta Buenaventura Sayoc & de Los Angeles is known for its high-quality financial and corporate offering in the Philippines. The firm boasts a global reach through its membership of Lex Mundi and has offices in Manila, Cebu and Hong Kong.
Focusses / specialisms
The firm is ranked in the top tiers in banking and finance, capital markets, corporate and M&A, project development, and restructuring and insolvency.
The firm is experienced in a range of industry sectors, including banking and financial services, fintech, real estate, energy and infrastructure, and utilities.
SKY Law
Founded in 2019, SKY Law
is a rapidly growing full-service law firm based in Pasig City. The firm has expertise in corporate, business, labour, taxation, intellectual property and data privacy laws.
Focusses / specialisms
In corporate practice, the firm specialises in M&A, project development, banking and finance, and special projects.
The firm has links with the Filipino Chinese community in the Philippines. It also has alliances with law firms based in China and other jurisdictions.
Key clients
Notable clients include Hicor Manufacturing, Zark’s Food Ventures, Steelworld Manufacturing, Philippine Cockfighting International, Aguinaldo Development, Visaya Knowledge Process Outsourcing, Exceture, Inspira Prime International and Fortem Cement.
Client feedback: 32nd edition (2022/2023)
Project development
"They have very good attention to detail."
Project finance
"They are good, experienced, competent, prompt in service, and give sound legal advice."
SKY Law (Kua Sy and Yeung Law Offices)
Established in 2019, Kua Sy and Yeung Law Offices (SKY Law) is a full-service law firm based in Manila. The firm is a member firm of Alliott Global Alliance.
Focusses / specialisms
The firm is best known for its litigation and dispute resolution, corporate, business, labour, taxation, intellectual property and data privacy laws.
SyCip Salazar Hernandez & Gatmaitan
Active since 1945,
SyCip Salazar Hernandez & Gatmaitan is one of the most well-known names in the Filipino legal market and has
established itself as one of the clear market leaders. The firm has offices in Manila, Davao,
Cebu and Subic.
In addition to advising on traditional banking matters, the firm has a focus on aviation financing, fintech and Islamic finance and is the only Philippine member of the Islamic Finance Network. Sectors of activity include transport, agriculture, energy, real estate, and food and beverage.
The banking team was active on a range of mandates include
advising
Aboitiz Equity Ventures
(AEV) and
Coca-Cola
Europacific Partners (CCEP)
in the USD 500 million term loan facility agreement granted by the Bank of the Philippine Islands. The deal is significant given its size and potential contribution to the Philippine economy, specifically in the food and beverage market.
In the capital markets
area,
the team advised
Philippine Commercial Capital and SB Capital Investment in the issuing and offering of Security Bank Corporation’s peso denominated. This deal was the largest bond issuance to date of Security Bank Corporation.
In the projects space, the team advised
MGreen on its investment in listed solar energy SPNEC to develop solar and battery energy storage systems projects in the Philippines. This project will be one of the
world largest solar projects.
Another
eye-catching mandate saw the firm advised
SMC Mass Rail Transit 7, San Miguel and Universal LRT Corporation (BVI) on a secured term loan facility to partially finance the development, engineering, and construction of Metro Rail Transit Line 7 that will connect Metro Manila to the northern province of Bulacan. This is a public–private
partnership
(PPP) project with the Department of Transportation,
procured under the country’s BOT Law, and was the first such variant of the BOT scheme in the country’s public transport system.
“Very professional and up to date in regulatory requirements.” (Capital market client)
“Professionalism.” (Project finance client)
Aboitiz, Manila Electric Company, Metro Pacific, Mitsubishi, San Miguel, BDO Capital & Investment, Bank of Commerce, China Bank Capital Corporation, SMC Mass Rail Transit 7,
Frontier Tower Associates Philippines
Tiongco Siao Bello and Associates Law Offices
Tiongco Siao Bello and Associates Law Offices
is a full-service law firm with branches in Manila, Cebu and Davao.
Focusses / specialisms
The firm’s main area of practice is corporate law, litigation and labour law. It also has extensive experience in mergers and acquisitions, real estate, banking, taxation and tax planning, bankruptcy and intellectual property.
The firm serves a diverse portfolio of clients from the Philippines, Japan, China, Taiwan, Singapore, Hong Kong, Malaysia, Indonesia, Canada, the US and other countries, across different industries.
