Racha Lucero – GC Powerlist
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Middle East 2023

Financials

Racha Lucero

General counsel Dubai Financial Market and general counsel Nasdaq Dubai and head of compliance, risk and MLRO | Dubai Financial Market and Nasdaq Dubai

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Middle East 2023

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Racha Lucero

General counsel Dubai Financial Market and general counsel Nasdaq Dubai and head of compliance, risk and MLRO | Dubai Financial Market and Nasdaq Dubai

Team size: Five 

 

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?  

We asked ourselves how we could take a different approach to tasks that we knew were essential to the functioning of the business so that we could become more efficient and free up time to concentrate on adding value as legal advisors. With that priority in mind, one of the main innovations I implemented was standardising and automating as much of our documentation as possible. This was made possible by ensuring the documents were clear and well-balanced. In doing so, they needed to be sufficiently protective and unlikely to require clarification or negotiation. To maximise their benefit and to be confident that the documents were “fit for purpose” from a business perspective, it was also very important to consult with the business units and to understand their concerns in detail. Through that collaborative design process, we can give the company what it needs to become more agile and to the legal function what we need to remain more strategic, all while building strong relationships throughout the organisation to further our mandate to act as business partners.   

How do you balance your responsibilities as a GC with your involvement in dispute resolution and M&A matters?  

Although I have a broad remit as general counsel of DFM and Nasdaq Dubai, charged with overseeing four distinct entities’ legal and regulatory aspects, I am blessed to be supported by a close-knit team. One of my primary responsibilities as general counsel is to ensure that we work collaboratively and are inclusive. This fosters camaraderie and contributes to our collective development by enabling us to invest in each other and provide ample opportunity for a free exchange of views. Because they can often be complex and require the additional participation of cross-functional teams and external advisors in dispute resolution and M&A matters, it is imperative for our team to act cohesively and replicate the same approach in the way we deal with the broader working group. 

How do you prioritise diversity and inclusion within your legal department, and what initiatives have you implemented to foster a more inclusive and equitable work environment?  

It is critical to treat team members equally and emphasize the human relationship and the commonality that binds us. On one level, this means ensuring that the team is balanced and diverse in terms of perspectives, backgrounds and other aspects that lead us to realize that our differences are ultimately enriching. On another level, however, what maximizes our potential and creates enduring harmony is a shared sense of purpose. Instead of viewing each other through the lens of employer and employee or managers and subordinates, within the legal department we make it clear that each of us is indispensable in his or her own way. For my part, I believe that transparency and candor are the essence of trust: whether it’s sharing information about projects and strategy or creating a safe space for anyone to voice hopes and fears. In the end, making team members feel that the company is their own, and that its success is theirs too, not only adds to their development but also to their well-being. 

Racha Lucero - Middle East 2024

Group General Counsel at DFM and Nasdaq Dubai, Head of Compliance, Risk & MLRO at Nasdaq Dubai | Dubai Financial Market and Nasdaq Dubai

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Racha Lucero - Middle East 2022

General counsel at DFM; general counsel and head of compliance risk and MLRO at NASDAQ Dubai | Dubai Financial Market and Nasdaq Dubai

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