About

Number of years practice: 16 Law school attended: Universidad Iberoamericana, New York University School of Law Languages spoken: English, Hebrew, Portuguese and Spanish (native) Principal practice areas: International Finance, M&A, Project Development and Finance Admissions: Mexico, New York

What have been three of your career highlights in Mexico to date? My first experience with project finance in Mexico was through various projects that InterGen was developing and acquiring in the country. I had the opportunity to work closely with the client on those deals and was eventually seconded to InterGen for a period of time. This gave me the opportunity to get to know the client intimately and better understand its culture and business operations, while taking the role of both in-house and external counsel on various deals, working on both New York law and Mexican law aspects of them, including acquisitions and financing of some of these deals. This experience was invaluable. At Chadbourne, given our leading renewables practice, we have had the opportunity to work on some of the very first and most significant wind project financings in Mexico. It’s always very rewarding to be involved in first-to-market and marquee deals. I have also had the privilege and challenge to lead our efforts to grow our Mexico City office, and create a successful local and international practice in Mexico with an impactful footprint. This has been an ongoing formative experience, as it requires management skills different from those required to lead a deal, as well as clear vision and strategy. What differentiates your practice from that of other private practice lawyers? Because I am a dually trained lawyer (Mexico and New York) and I am a native Spanish speaker, I can seamlessly work in cross-border transactions in Latin America that involve New York law and civil law and, in the particular case of Mexico, I can advise on Mexican law issues of the transactions. This is a skill that very few lawyers share. Why has Mexico been a particularly strong focus for you? I was born and raised in Mexico and I am admitted to practice law there. So there is a natural connection and expertise. Chadbourne also has an office in Mexico City and I spend a significant amount of time in that office and working with our Mexico City lawyers on both local and international transactions. Mexico is also a country with tremendous potential and opportunities and, with the energy reforms of 2014 that opened the energy market to full private participation, the opportunities are many, and so are the challenges. What are your predictions for change in the US-Mexico relationship? The relationship has already changed since the presidential election in the US and will continue to change. It will be a much more challenging relationship for Mexico and Mexican businesses, as the current US administration does not see Mexico as a trustworthy partner, which in my opinion, is incorrect. This unfortunately has had very negative impact on the US Dollar/Peso exchange rate, which impacts the cost of investments in Mexico. But investors should not be detracted from making long-term investments in Mexico. The opportunities are there and the country needs and welcomes foreign investment. Are there any aspects of the Mexican legal market that you would like to see change? The legal market has been changing in the last 10 years as more foreign, sophisticated investment pours into the country. The legal market has adopted many international standards and there are very qualified and sophisticated attorneys practicing locally, who have had experience working at US firms or have been involved in several cross-border transactions. The quality of the advice has improved significantly, as local lawyers have a better feel for what international investors need. However, the trends will continue to be imported from the US, mainly, and the UK with respect to certain areas of practice. The change that I would like to see the most is for more of the traditional Mexican firms to provide a real path to success and partnership to more women, as unfortunately at some leading firms you can count with one hand the number of women partners and, in some instances, it seems that they only have one or two at the most, while they have many women associates. There are still strong traces of a boys-only culture and that needs to change. Firms need to provide the flexibility and support to their female attorneys to be able to succeed professionally and personally. Is there a key economic factor or trend you regard as likely to impact the Mexican legal sector over the next 18 months? Everyone is nervous about the impact that the Trump administration’s policies will have on the Mexican economy. The extent of the impact is yet unknown, but the Mexican government must act strategically and with a long-term view to counter any negative effects. The US and Mexican economies are too intertwined for the effects of any negative policies towards Mexico not to be felt in both countries. However, the US Dollar/Peso foreign exchange is hurting Mexican businesses and, while it could benefit exports to the US, any imposition of tariffs to Mexican goods and products will have a very damaging impact on the country. As such, Mexico must look at other markets and must embrace investment from countries other than the US, in particular countries in Asia. Are there any sectors you regard as likely growth areas for the Mexican market over the next five years? Energy is the main sector that has an unlimited growth potential. The 2014 reforms have opened both the power and oil and gas markets to competitive private investment in many areas that were previously controlled exclusively by the government or where private participation was limited. Given the tremendous needs that the Mexican economy has for reliable and affordable power, the power market will grow significantly in the next several years, particularly led by renewables and gas-fired projects. Telecommunications is also a growth sector in which there are very interesting opportunities, to the extent that the government is successful in divesting the power that few firms have had over the last few decades.