How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

I understand that the key to managing legal aspects during periods of instability or crises is to take all the possible and necessary steps to be as prepared as possible during periods of (relative) stability. This means having all the processes and controls in place, preparing model documents and templates, ensuring that the best available technological tools are available for use, cultivating the best possible relationship with external counsel, among others. Crises will inevitably occur; the key is to be as prepared as possible and being organized so that the structure is in place and the daily work can keep on flowing while we handle the most urgent legal matters during the crisis. 

What are the main cases or transactions that you have been involved in recently? 

I have been involved in all the recent M&A transactions of the bank, including the acquisition by Itaú of a 30% stake in Uruguayan fintech companies Prex and Paigo and of a 40% stake in another Uruguayan fintech called Handy. I am also currently working in the acquisition of 100% of another Uruguayan fintech, whose name is confidential. 

I also participated in the strategic alliance of Itaú with ABYA, a Uruguayan technological start-up.  

In the financing sector, I participated in the financing of several of the biggest Uruguayan companies, which are Itaú clients, providing innovative solutions for their needs. Among others, we recently provided financing to Stiler, one of the largest construction companies in Uruguay for one of its most ambitious projects, a unique tower called JOY located in Montevideo.  

What do you see as the major legal challenges for businesses in Uruguay over the next five years, and how are you preparing to address them? 

I understand that that major legal challenge is the implementation of technological tools. This has two sides to it. On the one hand, especially for lawyers, it is difficult to embrace new technologies and to use them and trust them. Therefore, one of the first challenges is accepting that there is a need to adopt new technologies (artificial intelligence, use of Whastapp and other new media to contact clients, contract management software, among others). I believe that, in the next five years, companies and law firms who do not adopt and start actively using new technologies will be left behind as it is likely that their competitors will use these powerful tools. Embedded in this first aspect is also the challenge of training lawyers and other team members in the use of these technologies and, in the case of companies, also making a mindset shift for the internal clients of the law department so that new technologies are effectively used. 

Secondly, the use of these new technologies also brings challenges from a legal perspective in the sense that there are several legal matters involved such as data privacy matters, fraud prevention, security measures, questions regarding enforceability of electronic documents, among others. All these legal questions will imply additional work for the legal department of companies, which should be compensated for by the decrease in the workload that the new technologies promise.