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Deloitte Consulting

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Federico Paz, Managing partner

Federico Paz, Managing partner of Deloitte El Salvador, discusses how the firm is adapting to clients' changing needs

What do you see as the main points that differentiate Deloitte Legal in El Salvador from your competitors?
  • By tapping into the wealth of business and advisory experience at Deloitte El Salvador, Deloitte Legal can provide comprehensive solutions to the complex challenges of our local and international clients. Our lawyers combine multidisciplinary expertise from colleagues in our Tax, Assurance, Consulting and Corporate Finance departments, to offer more than classical lawyering. We deliver integrated guidance that helps our clients make informed decisions.
  • Our industry specialists offer interdisciplinary advice based on wide-ranging and in-depth experience. In this ever-changing regulatory and economic environment, we help our clients confront diverse challenges in every sector of the economy.
  • We have a very strong global presence, currently Deloitte Legal is in more than 75 countries around the glove, and growing rapidly. This enables Deloitte Legal to provide our clients with coverage wherever they operate and our lawyers to access local expertise from many offices around the world.
  • What matters to us is to win great clients and to make an impact on their businesses.
  • Which practices in your member firm do you see growing in the next 12 months? What are the drivers behind that?

    Tax controversy and anti-money laundering will be areas of growth. The main drivers behind the growth of our tax controversy practice are new taxes and the low level of tax collection as recently announced by the tax authority. Our anti-money laundering practice is also likely to grow due to the reforms introduced by recent anti-money laundering legislation. Under the rules of procedure of this legislation, merchandise companies are subject to the law, which will require important changes at all levels of compliance in order to fulfil new obligations and prevent violations.

    What is the main change you have made in your firm that will benefit clients?

    The incorporation of Deloitte Legal into Deloitte El Salvador has been one of the most important changes that our firm has made, to increase added value to our clients, who recognize the importance of the multidisciplinary perspectives that we can provide.

    How is technology changing the way you interact with your clients and the services you can provide them?

    Digital natives are used to obtaining the information they need online – increasingly also in our field of business. In addition to the substantial amount of information already presented on our website – such as our Legal Newsletter and Legal Alerts- we are moving towards an interactive presentation of information about legal topics.

    Can you give us a practical example of how you helped a client add value to their business?

    Our client, operating in the customer service and retail industry, needed to establish and open a business in El Salvador. At first, they engaged us to help establish a Salvadoran subsidiary. During the course of this project, we made the client aware of additional actions necessary to comply with other specific local industry regulations, including consumer law and employment and pensions. In addition, our colleagues in Tax provided advisory services as well. As a result of our multidisciplinary approach and experience, we were able to assist the client in a range of matters, helping them to achieve their business objectives.

    Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years' time?

    Clients look for long term business relationships with their lawyers, which is one of the most difficult barriers we have to confront as a new local firm. Though Deloitte is better known for business consultancy services, we expect to gain local recognition of our legal capabilities. Our local firm contributes to the Deloitte Legal network's global presence, particularly in the Central America Region.

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