Can you please give us an idea of the work your team has done recently? 

During this year my team focused on implementing 14 restructures of existing financings to reflect challenges faced as consequence of the pandemic, structuring and implementing 49 new financings in an aggregate amount of over $700m (some of those transactions are syndicated loans in which Banco Sabadell assumed the role of agent, a role that we are promoting for future transactions), supporting our business areas in their efforts to broaden the digital presence of the bank, particularly regarding personal banking. We also operated the day-to-day legal issues related to the bank’s personal banking area, managed the banks and affiliated Mexican entities’ corporate and regulatory governance, and maintained contact with the bank’s supervisory agencies and answered all requests made by such agencies.  

Additionally, we negotiated and executed all relevant supply contracts, and managed 67 judicial collection procedures of outstanding credits in an amount of over $80m. I would also like to mention that Banco Sabadell Mexico has one of the lowest non-performing loans indexes in Mexico. On top of that, my team participated in different internal committees, particularly those related to credit, risk analysis and AML. 

Also, I would like to note that during 2021 I assumed the position of General Counsel of Banco Sabadell Mexico, after 6 years of heading the commercial legal department (that oversaw all financings and personal banking). 

How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?  

The pandemic accelerated changes happening from physical to remote working environments. We were forced to design and instrument new remote working processes in a short amount of time that, as a team leader, implied the need to learn and perfect how to lead without physical contact. It forced me to learn how to read and sense my teams’ and internal clients’ needs and feelings without physical interaction, as we moved all our work to digital platforms. Even the relation with our supervisory agencies turned almost 100% remote. 

The pandemic did not change the material duties of in-house counsel, but it did influence how we perform such duties; form a legal perspective, it forced us to re-evaluate how to use digital platforms to execute and follow up on agreement and comply with legal and regulatory obligations. 

From a cost perspective, remote working also opened the possibility of implementing cost reduction measures, without affecting our human resources (which are always our most valuable asset), as it allowed us to reduce material expenses. 

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most? 

The pandemic brought pressure to be successful with less resources and provide the same level of service to our internal clients. Technology will be the best way to achieve that success. “Legal-tech” will have a significant role in the development of our area; particularly in the perfecting of contract drafting programs that would simplify our operation and reduce operational costs, even when dealing with complex legal financing structures, without sacrificing legal certainty, the developing of due-diligence programs that would help identify legal issues and risks in a cost-efficient way, and the use of management tools, for internal and external (law firms) work allocation. 

The use of technology will allow to better gather and analyze data about the performance of our legal team and external legal firms that, in turn, will help us adopt more informed decisions and explain to our business areas the extent of legal work that goes into each matter. “Legal-tech” must be seen, not as a cost, but as an investment that will pay off in the near future. 

During 2021 we started using a digital platform to execute all NDA’s and supply contracts; our objective is to extend the use of such platform to credit agreements and other banking operations (such as trusts and derivatives), allowing for more efficient execution. Additionally, during 2022 we will start implementing a project that will allow all notices under credit agreements to be notified through electronic means (reducing operating and administrative times and costs for ourselves and our clients, as well as benefiting the environment). 

How do you suggest in-house lawyers build strong relationships with business partners? 

It is fundamental for in-house lawyers to understand the business of their company and the needs of their internal clients (business and operating areas), to be able to transmit and defend such needs before third parties. In-house lawyers must see themselves as business facilitators. In a business setting, law is only useful if it serves the values and business purposes of the company, identifying risks and assisting the company in eliminating or reducing such risks. As lawyers, we should always have a practical approach to problem solving, making our best effort to put our personal ego aside, putting the company (and ultimately the shareholders) first. In-house lawyers are in a unique position to transmit to our business partners (mainly external law firms) what we require from them, making them aware of the company’s values, interests, purposes, and challenges. In my experience, the best business relations are built around confidence and good communication, where third parties (with time) understand the “inside” of the company and execute their work in accordance with our values and interests.