Magazines

Q1 2019

Ronaldo Veirano / Gender pay gap / AMLO

The results are in – and they’re not good. The proportion of women partners at Latin Lawyer 250 firms – 23% – has barely changed since 2013. This despite firms’ increased efforts to prioritise and invest in the retention of female talent.

One result of few women reaching the highest levels of law firms is an entrenched aggregate gender pay gap: the inevitable reality of far more men occupying the top positions than women. It is the same story in the UK, where gender pay gap reporting became mandatory in 2017. In this issue we consider what pay gap reporting tells us about female career progression and the implications it has for Latin American law firms. We also speak to in-house counsel to find out what clients really think about law firm diversity.

Ronaldo Veirano – a venerated member of Brazil’s legal community who built the firm he founded into one of the market’s leading institutions – was the recipient of Latin Lawyer’s Lifetime Achievement Award in 2019. On these pages he reflects on his illustrious career.

Mexican President Andrés Manuel López Obrador was elected last year after his promise to clamp down on rampant corruption struck a chord with voters. We spoke to some of Mexico's leading lawyers about what to expect under his administration.

Also in this issue, we hear why Latin America remains an attractive destination for private equity spenders; chart Argentina’s anti-corruption enforcement; and consider if the ‘new NAFTA’ represents a change in the trade relationships among its member countries.

  1. Why fewer women than men become partners

    Partners sit at the top of the law firm pyramid structure and they have the biggest pay packets. The fact that women are in the minority in most law firm partnerships in Latin America – and indeed the world – is the main reason behind the gender wage gap in the legal profession. Here, we list four common explanations put forward to explain why more women don’t rise through the ranks to become partners.

  2. Do clients care about law firm diversity?

    A survey of some 190 corporate counsel by the Latin American Corporate Counsel Association (LACCA), which is affiliated to Latin Lawyer, got a mixed response about how important diversity is when it comes to choosing external legal teams. Christina McKeon Frutuoso presents the findings.

  3. NAFTA 2.0?

    The United States, Mexico and Canada signed a free trade agreement on 30 November 2018, replacing the existing 24-year-old North American Free Trade Agreement (NAFTA) in place between the three countries. Hogan Lovells LLP partner Chandri Navarro asks whether the US–Mexico–Canada Agreement (USMCA) really represents a significant change in the trade relationship between the three countries.

  4. Exposing the gap

    For the past two years, many UK law firms have been compelled to publicly disclose the difference between what they pay male and female lawyers. Gender pay gap reporting can be a blunt instrument, but acknowledging a problem is the first step to solving it. We consider the implications for Latin America’s legal market.

  5. Lifetime Achievement Award: Ronaldo Veirano

    One of this year’s winners of Latin Lawyer’s Lifetime Achievement Award, Ronaldo Veirano, built his eponymous firm into a leading legal institution in Brazil. He reflects on his journey to become one of Brazil’s sharpest and most respected legal minds.

  6. Edging out the competition

    Christopher Finn, global head of operations at alternative asset manager The Carlyle Group, speaks to Simpson Thacher & Bartlett LLP’s Todd Crider about private equity’s prospects in Latin America, the rewards of having on-the-ground expertise and what he looks for in external legal counsel.

  7. A turning point

    Argentina is overhauling its anti-corruption efforts. Significant enhancements to regulations and enforcement show a clear trend of local and international companies paying increasing attention to anti-corruption, compliance and investigations matters. Marval, O’Farrell & Mairal’s Gustavo Morales Oliver and Pedro Serrano Espelta outline what’s changed.

  8. Catching El Peje: what lawyers expect from AMLO's presidency

    Mexican President Andrés Manuel López Obrador is popularly known as El Peje because of his Tabasqueño accent. The nickname comes from pejelagarto (literally, fishlizard), an alligator-like fish from his native Tabasco. Much like his freshwater namesake, it’s hard to pin down what he is, so Latin Lawyer asked some of Mexico’s top lawyers for help.