About

Héctor Ávila Flores had already worked in the financial sector for over 10 years before assuming his position as general counsel and secretary of the board at Grupo Financiero Banorte, the third largest bank in Mexico. Upon joining, Ávila Flores reorganised the structure of the legal department, which currently consists of 750 lawyers, to create specialisations in key areas such as litigation, credit and M&A. The changes have enabled business units to provide more accurate timelines for clients, directly impacting one of the group’s key strategies for growth. In 2010, Ávila Flores participated in the $1.3bn merger of Banorte and Grupo Ixe. Three years later he participated in the group’s global IPO that raised $2.5bn in share offering, a cash injection that was used to fund later acquisitions and strengthen capital ratios. In 2014 Ávila Flores was in charge of the bank’s quick adaptation to significant financial reform in Mexico that contained amendments to more than 30 statutes as well as the issuance of a new Financial Groups Law.