About

Cuban-born, Princeton graduate Rubén Díaz Jr, general counsel of Nicaraguan holding company Grupo Pellas, has ‘a keen intellect, over 30 years’ experience, and is very capable’. From private practice at Hughes Hubbard and subsequently Steel Hector, ‘in its heyday’, he moved to what was then Ernst & Young Legal (Latin America), where, as general counsel, he would be responsible for winding down the legal department, ‘a unique experience that gave him a singular perspective’. ‘He has been a leading private practice partner and he now heads up a major private sector group – he has a real 360-degree view of the profession’, comments Foley & Lardner’s Francisco Cerezo. In 2004 Díaz joined Pellas Group-company BAC Florida Bank as general counsel before becoming general counsel to the group as a whole in 2011. With a presence in the US, the Caribbean, Central America and Panama, holding entity Grupo Pellas, is made up of more than 25 companies in sectors including finance, agro-energy, tourism, telecoms, real estate and insurance. The $1.9bn sale of BAC Credomatic in 2010 and in which Díaz was centrally involved, remains the largest financial transaction ever in Central America. ‘It was an incredibly complicated, multijurisdictional deal, in a heavily regulated industry’, comments one insider, ‘a remarkable achievement’. Characterised as ‘extremely bright’, he’s also ‘a hands on person who doesn’t mind hearing all the details, but also practical, no-nonsense and incredibly organised. Moreover, he anticipates issues, which makes an outside lawyer’s job so much easier, he knows how to cut through to the important stuff and to get the deal done’.