About

What are the most significant cases and/or transactions that your legal team has been involved with in the last two years?

In 2019 the legal team supported Banistmo’s issuance of the first social gender bond in Latin America, totalling US$50m with a five-year term. The issuance was subscribed by IDB Invest Group, a member of the Inter-American Development Bank (IDB) and its revenues will be used to increase access to financing for small and medium-sized enterprises (SMEs) led by women. The transaction was widely praised in the media and recognised as a regional milestone to improve gender equality.

Also, in 2019 the Government of the Republic of Panama issued treasury notes for US$1bn, placing part of the issue through the iLink, liaison with Euroclear Bank, allowing international investors to access these securities under Panamanian law for the first time in the Panamanian Stock Exchange’s history. Banistmo was the local agent for the transaction and the legal team was proud to participate on an innovative transaction in the Panamanian Securities market that provided new funding tools for the government

Another significant project is the development of new capabilities for Nequi, the first digital platform ‘fintech style’ launched by a banking entity in Panama. Banistmo’s strategy includes the continuous evolution of the Nequi platform integrating new features and services every year that require a close coordination with banking regulators and the development of new legal models in the country.

Also, we worked on the co-structuring and financing of Panama’s first natural gas fired plant and the biggest of its kind in Central America.

How has the team harnessed technology to improve output or drive efficiencies?

Technology and Innovation are part of Banistmo’s DNA as the company strongly believes they both play a critical role in our strategy and development. Banistmo employees benefit from a wide portfolio of training programmes, designed by our company to develop critical and innovative thinking.

Members of the legal team have also been selected to participate in six month internship programmes sponsored by the ‘Innovation Vice-Presidency’ of Banistmo. Finally, technology is part of our everyday life, whether it is to manage meetings more efficiently, train people, generate metrics or facilitate the construction of legal documents, we are continuously seeking ways to leverage from it, allowing us to be more efficient.

Can you sum up the team culture/ethos? Giving some information afterwards about how this is developed.

Banistmo is a wholly owned subsidiary of Bancolombia, and as a group we consider ourselves as a leading, trendsetting financial group that generates a superior experience for its clients, pride for its employees, and value for its shareholders, in a sustainable manner.

Focus on… Good corporate lawyers

What does it mean to be a good corporate lawyer?

There is not a perfect formula for all cases, but I do believe there are some core components that do not change throughout. Perhaps you have heard some of them before, from your parents, teachers, or mentors. If anything, these are the ones that have proven most effective in my career. Values: Right and wrong lies deep within humanity’s core. Values are never negotiable, and all your actions should be guided by them. Make sure your values and those of the company you are serving align. Promote them, live them, and make sure they are reflected in every aspect of your life. Attitude: After values, this is the most important attribute I look for in a candidate. A hunger to excel, the passion to take on difficult tasks, and an authentic concern for the effective development of these tasks; these are attributes that set the best apart. Simply put, the best do things right. This inner motivation indirectly habilitates other skills, such as: the openness to listen and respond appropriately to feedback, the alertness to seize an opportunity, the willingness to work hard and go the extra mile, and the humility to reach compromise and leave the ‘I am the star approach’ behind. These skills will all determine your ability to work with a team, precisely what a company is, and to ensure your best is put into every task. When recruiting a new lawyer, I always tell my directors the technical stuff can be taught, but the attitude comes with the person. Look for attitude and we will teach them the rest. Knowledge: By knowledge, I am not referring to knowledge or professional experience regarding legal matters. A lack of experience is sometimes expected and is something that can be polished. Instead I refer to knowledge about the corporation you will be working at – its line of business, its goals, and its strategy. What tools or processes does it have? How does it work? Who are its competitors? For example, if you are working in a bank, make sure you understand its finances, products, clients, language, and ecosystem. Limiting your work to legal matters only while working in a corporation is like knowing the directions to a place without knowing how to drive a car. Hard work: Hard work does not mean living in your office; it means being able to prioritise and dedicate your efforts to what is truly relevant. It means you are able to find balance, identify when the extra mile is required from you, and give it. It means you question how things are done, and that you find more efficient ways to do them. Excelling: For some, excelling means financial success, for others, it means to be recognised by holding key positions in the corporate ladder. Some believe that to excel is simply being able to do what makes them happy. Whatever your definition is, keep this in mind – lawyers often do not realise their power and how much they can offer. They don’t realise the impact they can generate, and how much the corporation they work at can exponentially potentiate their contributions.