About

Marcela Bernal de Fontanals joined Citi El Salvador in 2000 as a legal assistant for the corporate bank, when Citi’s presence was limited to a single branch office and two ancillary local legal vehicles in the country. Her role at the time was supporting the former general counsel, in the management and coordination of the legal affairs and corporate bank business of Citi in El Salvador. Bernal was appointed general counsel in 2005 and became counsellor of the Citi country officer and his direct reports, as well as being responsible for all Citi legal matters in El Salvador. ‘Being appointed general counsel in Citi in 2005 at a “young age” compared to the age media in the country for general counsels in financial institutions, this appointment gave me exposure and access to complex transactions and experience in franchise risk advisory’, explains Bernal. During her time at Citi, she has focused on being the best for the client, and having a proactive 360 degree assessment role instead of only focusing on the “legality” of subjects. In 2007, Citi acquired two Central American regional bank operations, totalling 16 legal vehicles, during the acquisition she played an important role, including the filing of all regulatory authorisations necessary for purchasing the consumer business and merging the legal departments in the country. Bernal played a key role in permeating Citi’s culture in the consumer business, and implementing the franchise’s policies, optimising the legal department’s processes and resources. ‘The acquisition of the consumer business in El Salvador, allowed me to acquire vast experience in consumer law subjects, also professionally it proved to be a great experience since I had to participate in regulatory filing processes implementation of the Citi culture in the acquired organisations’, says Bernal. In October 2014, Citi announced the divesture of the consumer bank operation in 11 countries, along with the senior management steering committee, as well as the re-opening of the local Citi NA branch. The process concluded on July 1 2016 and Citi successfully reopened its corporate branch. Bernal is part of the Citi El Salvador Women’s Network and is co-chair of Citi’s 20/20 strategy committee and board member of Junior Achievement El Salvador.