What are the most significant cases or transactions that your legal team has recently been involved in?

I am the head of legal in Latin America at CPP Investments, which is one of the world’s largest global investment managers with CAD$536 billion AUM (Assets under Management). In this role, I come across a variety of complex debt and/or equity transactions involving different jurisdictions, each with their own unique legal challenges.

Handling these transactions properly in a region like LatAm involves additional complexities, such as:

(a) navigating FDI and other regulatory approvals in a complex and incipient regulatory environment;

(b) dealing with political instability and political risks;

(c) ensuring proper contract enforcement especially in the event of litigation;

(d) avoiding compliance and reputational risks in countries where corruption is endemic; and

(e) addressing ESG-related concerns in a region where this agenda is still very embryonic and lacks fully developed practices in all aspects of E, S and G.

All these complexities are multiplied if you represent a global organization that is committed to the highest ethical standards and international requirements.

So, any transaction in the region can be quite complex regardless of its size.

In general, what would you like to see change about the external law firms you use?

Firstly, law firms and their members should go beyond the legal “bubble” and better understand the business needs and industries of their clients, and the objectives of each transaction. This is essential for law firms to be able to provide more tailored advice that aligns with their client’s expectations.

Secondly, they should improve coordination among their internal teams, particularly their compliance area. Compliance is often seen as a standalone, and addressing compliance issues (including corruption, money-laundering, commercial sanctions, anticompetitive practices and data protection) is a very important aspect of any transaction (from the due diligence scoping to the inclusion of specific provisions in the transaction documents – including post-closing undertakings). By better integrating compliance and deal teams, law firms can provide their clients more valuable advice and the confidence that all risks are being managed properly.

Finally, they should increase diversity and inclusion among their members at all levels. I have seen that a diverse and inclusive environment often brings out different perspectives, ideas, backgrounds and approaches to problems; more welcoming and supportive teams where people express themselves more comfortably; more creativity; and, therefore, better talent. This is essential for better client service generally.

As we live in a fast-paced world today, what skills will a corporate legal team need to succeed in the modern in-house industry?

The most important skills a legal team and their members must have to succeed in today’s fast-paced world are flexibility and adaptability: Individuals must be able to adapt quickly and smoothly to changes in legal requirements, business priorities and market conditions, to cite three examples, so they can be efficient at all times and respond quickly to any unforeseen challenges or opportunities. Individuals must be open to new technologies, new ways of doing things and new ideas, and act collaboratively to put them into practice.

Another essential skill is strategic thinking, especially with a global mindset: By being flexible and adaptable, the team can proactively anticipate risks, opportunities and solutions. This helps a team get better aligned with the company’s goals and strategy while adding more value to the services they provide.