Banking and finance in Mexico

‘By far the best in this industry’ is how many clients see the vast practice that Creel, García-Cuéllar, Aiza y Enríquez, S.C. has dedicated to the banking and finance sector. ‘Committed to quality service at all levels’, and unwavering when it comes to ‘identifying and resolving complex situations’, the department advises an impressive mix of international and domestic lenders, borrowers, funds, banks, insurance companies and other financial entities in connection with a broad array of transactions – frequently involving innovative structures – including: cross-border and local single-bank and syndicated loan facilities; acquisition, structured and maritime financings; secured and unsecured financings; and high-level restructurings, project finance and derivatives. Nearly 40 professional -including eight partners- make up the impressive group, which ‘stands out for its knowledge and technical capabilities’ and always delivers ‘exceptional work’. Among its ranks are some of the most prominent names in this sector, including rainmaker Carlos Aiza who heads the department, along with key figures Giovanni Ramirez; Pedro Velasco; Emilio Aarun; Rodrigo Castelazo and Mercedes Haddad. The practice group also features an outstanding second line of senior associates, including Alejandro Isaac, who earns praise for being ‘pro-business and proactive’. However, former counsel Víctor Gallegos moved to Cervantes Abogados in July 2021.

Standing strong among the big players in the banking and finance realm, Galicia Abogados S.C.´ stellar 23-strong practice, garners praise for its ‘top-notch command of the law, fantastic people-skills and an exceedingly well-deserved reputation for integrity’. The well-rounded team, which boasts ‘rock-solid technical skills’, is led by a ‘superstar roster’ of partners, including Arturo Perdomo, who also heads the fintech practice; Guillermo Pérez Santiago, who is highly regarded for his expertise in capital markets; and the head of insurance, Humberto Pérez-Rocha. The practice regularly acts for some of the leading banks present in Mexico, handling regulatory and compliance matters; corporate, sub-sovereign, structured, syndicated and bilateral financing transactions; and acquisition and asset-based finance. Key support is provided by senior associate Lili Abascal, who focuses on public financing, structuring and negotiating local and international financing, refinancing and debt restructuring transactions; and managing partner Manuel Galicia, lauded by some as ‘the elder statesman of Mexican law firms’. Promoted to counsel in October 2021, Rosemarie McLaren is the key finance contact in the firm's Monterrey office. Clients also value the firm’s ‘people-centred culture’, particularly regarding its pro bono and diversity initiatives, which ‘are widely recognised as industry-leading’.

International full-service powerhouse, Greenberg Traurig, S.C., houses a robust, 25-strong banking and finance practice in Mexico, which handles the full array of secured and unsecured financing transactions for a wide range of national clients, as well as US and other international players doing business in the country. The team -which is active representing a mix of both lenders and borrowers across the private and public sectors, particularly in corporate, project and real estate finance- is co-led by seasoned practitioner, managing partner José Raz Guzmán; and Juan Manuel González Bernal, who boasts notable expertise handling complex project finance transactions. Additional partner-level input and engagement comes from Rodrigo Orozco Waters, who has proven expertise in large sub-sovereign-debt restructurings and re-financings (working with both banks and states); Miguel Moisés, who is frequently sought out for structured financings, bilateral and syndicated loans, and the financing of industrial, commercial and residential real estate projects; and José Antonio Butrón, whose practice encompasses M&A, banking, project finance, capital markets, structured finance and securitisations. Senior associates David Argueta and Ana Acosta are other names to note.

Full-service Mexican firm, Mijares, Angoitia, Cortés y Fuentes S.C., maintains its place at the top thanks to its renowned banking and finance practice, lauded by clients for always been ‘extremely professional’, and for offering service of the ‘highest quality’. Both financial institutions and corporates rely on the 20-strong department, which undertakes the full array of financing structures for domestic and cross-border transactions, with a particular focus on project-, leveraged-, asset- and real estate finance, along with syndicated loans. Steering the team are: Ricardo Maldonado, who has broad experience in securities' regulatory matters; Pilar Mata Fernández, who regularly advises both sponsors and lenders on all aspects of project, structured and corporate finance (across the energy, infrastructure sectors, among others); Manuel Echave, who is very prominent in complex financing mandates; Ignacio Armida, who has noted cross-border capabilities; Francisco Ibañez and Martín Sánchez Bretón, who are praised for ‘their dedication’; Patricio Trad, who has 15 years as a partner at the firm and focuses on corporate and structured finance; and general corporate-finance practitioner Patrick Meshoulam, who made partner in April 2020. They are closely backed by Carlos Jiménez, promoted to the partnership in turn in July 2021, who has represented creditors and debtors in a number of financings both in Mexico and the United States, including syndicated loans and project finance.

Nader, Hayaux y Goebel, SC offers one of the biggest teams in the market, with over 31 professionals operating in the banking and finance sector. The practice, with renowned project and corporate-finance expert Michell Nader at the helm, is praised for its ‘technical expertise and the ability to propose innovative solutions while always looking after the interests of clients’. It regularly represents a stellar list of global banks, financial institutions and corporate clients, advising on matters ranging from structured finance and securitization deals, equity placements, equity funds and leveraged buyouts, to leasing, corporate lending, real estate finance and project financing. Other key members of the practice include Hans Goebel, who has a strong background in banking law and regulations; Julián Garza , who is lauded by clients for being an ‘extraordinary lawyer’ and for offering ‘service of the highest quality’; Javier Arreola, who specializes in project finance and asset-backed financing; Eduardo Villanueva, who has niche expertise in real estate finance; Yves Hayaux-Du-Tilly, who focuses on the regulatory regime applicable to financial institutions; and José Humberto Rocha. However, former counsel Mónica Ramos moved in-house at Grupo Elektra in January 2021. Since publication, associate Federico Vergara (banking; cross-border, structured and project finance; private equity, M&A and corporate and commercial law), has been appointed of counsel - effective May 2022.

Banking and finance work has arguably been the backbone of Ritch, Mueller y Nicolau, S.C.'s activity for over 40 years and the firm has tremendous expertise in such matters, with which it has established itself as the firm of choice for an impressive roster of financial institutions, assisting them with the financing of real estate, energy and M&A transactions, among others. The sizeable practice, which has recently also been active on the debtors' side, has taken the departure of senior partner Thomas Heather in its stride, promoting two new partners to the area; Gabriel Robles, who focuses on financing with a specialization in capital markets; and Alejandra Echevarría, who offers extensive expertise in energy. They both play a key role in the department co-led by experienced practitioners Jean Paul Farah and Pablo Perezalonso. The latter holds noteworthy expertise in financial derivatives' transactions and banking regulation, while Farah typically attends mandates involving secured and unsecured credit facilities. Partners Gabriel del Valle, who specializes in structured loans, private and public offerings of debt, equity and structured securities; and market veteran Luis Nicolau are the other notable members of the practice.

González Calvillo, SC houses a top-notch, 17-strong practice comprised of specialists with ‘extraordinary experience’ and who possess a ‘deep and up-to-date knowledge of financing issues’; they are at the ‘forefront of legal practices and adapt to the needs of their clients’. Valued for their business-oriented mindset, the practice assists with customary banking and finance work -including commercial lending, acquisition financing and project finance- through to regulatory banking matters. Key figures include seasoned practitioners Jose Victor Torres, who has a particular focus on syndicated loans; managing partner José Ignacio Rivero, who excels in cross-border finance; Jaime Cortés, who focuses on structured finance; and Juan Manuel Sancho, who is very active in all matters related to development banks. Counsels Antonio De Lisi; Alberto Bustamante (who is able to find ‘the most efficient, safe and practical way to resolve the issues’), and senior associate Jacinto Avalos, complete the well-rounded department. Since publication, Sancho has left the firm - effective as of March 2022.

According clients, ‘the attention of Jones Day's lawyers is outstanding;' and 'they always offer a quick response, with the right advice, depth and counsel’. This local office of this global player houses a 14-strong Mexican practice led by managing partner Manuel Romano, who primarily specializes in project finance, both in the infrastructure and energy sectors. Other key members of the team include Alberto de la Parra, who has a focus on structuring infrastructure and energy generation projects in Mexico; the head of energy, José Estandía, who specializes in project finance transactions for clients focused on power, renewable energy, natural gas, and hydrocarbons infrastructure; Javier Martínez del Campo, who has a broad securities and finance practice; and of counsel Antonio Franck, who actively represents development and private banks in retail financing and restructuring financing. 'Outstanding’ senior associate Arturo de la Parra garners praise, particularly for his ‘remarkable ability to negotiate and find the best agreements to solve problems’. The practice is supported by the firm's international network, and regularly works with other offices, particularly Madrid, New York and Miami.

With 30 years’ experience, established market presence Kuri Breña, Sánchez Ugarte y Aznar delivers a seasoned banking and finance department, which offers a solid and competitive structured and asset-backed finance practice, while also demonstrating strong credentials in project finance and real estate related financing. The 12-strong department, which is hailed for being ‘proactive’ and for ‘collaborating with the client to provide a complete and comprehensive service’, advises both borrowers and lenders. Highlighted members of the practice include: founding partner Daniel Kuri Breña; senior partner Guillermo Garay, who regularly advises on financial restructuring transactions, syndicated loans, bilateral loans and cross border financing; Luis Octavio Núñez, a recognized figure in the real estate sector; Alejandro Sobarzo; Rodrigo López Márquez, who has specific expertise in representing Mexican development banks. At associate level, key support comes from seniors, Miguel Vallejo (securitisation transactions, finance plans, asset-backed structured finance and securities matters) and Silvia Roldán, who’s previous experience includes two years in house at Scotiabank. Since publication, Vellejo has been raised to the partnership - effective as of February 2022.

Fielding a 17-strong team, which is lauded for always being ‘attentive and readily available to serve its clients’, as well as its lawyers' ‘knowledge of financial legislation’, seasoned full-service firm Santamarina y Steta remains a solid presence in the banking and finance sector. A regular advisor to both lenders and borrowers, the practice handles a wide variety of finance projects, from preparing loan agreements and conducting loan restructurings with Mexican and foreign institutions, to the design and implementation of financial structures for international finance projects. The ‘exceptional’ Juan Carlos Machorro, who is well-versed in project finance, heads the department, with strong support from partners Alberto Saavedra; Sergio Chagoya, who has experience handling mandates from government entities; Ricardo Orea, who has represented various financial institutions on the financing of infrastructure projects in the energy, road, public healthcare and port sectors. Associate Margarita Casarin handles banking and finance matters as part of her broader practice.

Housing a highly-regarded banking and finance practice that is always ‘a guarantee of excellence’, international full-service firm White & Case S.C., is a frequent choice for some of Mexico’s best-known corporate entities, as well as many leading local and international financial institutions. With notable expertise as regards regulatory mandates, the large team, which ‘possesses a high degree of specialisation, client knowledge and timely and unbeatable attention’, also advises on syndicated and revolving credit facilities (and their refinancing) and secured and unsecured loans, among other financing modes. Senior partner Vicente Corta is highly experienced on both the transactional and regulatory sides of the practice; he co-heads the department with Juan Antonio Martin, whom clients regard as ‘a true leader in banking matters’. Other key practice partners include Maria Teresa Fernández-Labardini, who advises on a wide range of banking regulatory matters; Manuel Groenewold and Carlos Mainero, who are both well known in the market; and Andrés Mosqueira, who made partner in January 2020 and is praised for his ‘great professional acumen and a broad business vision’; he too has a regulatory focus, particularly in connection with payment systems, securities and fintech products and services.

Chávez Vargas Minutti Abogados has been steadily deepening its footprint in the banking & finance realm throughout its 11-year presence in the market. The nine-strong practice, which is led by managing partner José Antonio Chávez and co-founding associate -today name partner- Brian Minutti (who has a particular experience in public finance, mortgage-backed securities and fintech), is well-known for its work with states and municipalities, and expertise advising on sub-sovereign financial matters, real estate development, and social and energy infrastructure projects. Also noted is Alejandro Carreño, promoted to the partnership in 2021, who has a focus on real estate, regularly advising banks and debtors in credit transactions and warehousing credit facilities. He also frequently acts for rating agencies authorised in Mexico. Senior associates Diego Medina and Jimena Pulliam, who usually operate on the banks’ side in relation to structured and real estate loans, are additional names to note.

Spanish international behemoth, Garrigues, fields a thriving Mexican banking and finance practice, applauded for being ‘very approachable’ and for offering ‘a great service attitude and pro-business mindset’, which covers project and structured financing, commercial bank lending and regulatory matters as well as ongoing operational advice to banks and multilaterals. Heading the 15-strong department, Mario Juárez stands out for his expertise on infrastructure projects, as well as on secured and unsecured loans. Other key members of the team -which boasts notable cross-border capabilities, include Gabriela Pérez Sierra, who brings her ample expertise in energy and infrastructure finance to the table; and principal associate Miguel Ángel Rocha.

Holland & Knight´s robust Mexican banking and finance practice, which is lauded for its ‘experience, permanent updating and direct involvement of the partners’, stands out for its proven track record representing banks in public finance matters, specialised cross-border commercial lending and energy and infrastructure finance. Steering the nine-strong department, which also boasts expertise in sub-sovereign and real estate finance, we find partner Alejandro Landa, who has a wide range of experience representing lenders on all matters related to financial transactions, including project finance, and securitisations.  Fellow partners Adrián Gay Lasa; Guillermo Uribe Lara, who is well-known for his expertise in real estate and FIBRA transactions; and senior counsel José Luis Villareal, who focuses on structured finance, securitisations and project finance; are other key members of the well-rounded department.

Bello, Gallardo, Bonequi y García, S.C.‘s ‘excellent’ team specialises in providing comprehensive compliance services to banks, receiving most of its mandates from financial institutions (both local and international) for lending, regulatory and compliance work – particularly relted to data matters. The department, which has also developed a significant fintech practice, includes notable practitioners Miguel Gallardo Guerra, who focuses on finance, banking, compliance, anti-money laundering and securities matters; Juan Bonequi, who specialises in litigation in relation to the finance sector; and of counsel Adolfo Hegewisch who is also currently acting as head of legal and compliance at Deutsche Bank México; he and Gallardo garner praise for being ‘outstanding lawyers with a great knowledge of their areas’. Senior associate Javier Pérez Moreno specialises in banking and finance, insurance and reinsurance, fintech and insur-tech, regulatory compliance, anti-money laundering, and healthcare. Since publication, Pérez Moreno has been raised to the partnership (as of February 2022), and the firm has hired Juan Manuel Sancho (from González Calvillo, SC) so as to boost its project finance and transactional practices - effective  March 2022.

CMS Woodhouse Lorente Ludlow maintains a steadily-growing presence in the banking and finance sector, thanks to its solid practice, which handles credits, regulatory mandates, and demonstrates particular strength in project finance, driven by the firm’s expertise in the areas of energy and infrastructure. The team handles a full array of financing for different industries -such as roads, hospitals and airports- on both the lenders’ and borrowers’ sides – although the team is appearing increasingly frequently for banks, development banks and other financial institutions. The January-2020 arrival of Raúl Zepeda undoubtedly broadened the practice’s spectrum, particularly strengthening its capability in financial regulatory issues. Zepeda works closely with fellow partner César Lechuga, who specialises in all aspects of the financing of real estate, infrastructure and energy projects. Senior associates María José Estrada (who focuses on project finance); and Héctor González Martínez, provide key support to the team, which also handles fintech related matters. Since publication, González Martínez has moved to Calatrava Consultores as a partner - effective January 2022.

When it comes to banking and finance, there are some who consider full-service Mexican firm, Cuesta Campos y Asociados S.C., as ‘the most competitive firm in Guadalajara’. Also operating from offices in Mexico City and León, the eight-strong practice led by founding partner Hugo Cuesta, partner Azucena Marín and senior associate Andrés Urquidi, evidences its expertise handling asset-based lending transactions, syndicated loans, project and asset financing, and secured credit transactions, as well as public and private debt securities offerings. Clients praise the lawyers' capacity to work under pressure and for their ‘great legal knowledge on international issues’, which they frequently put to use acting as co-counsel with overseas law firms on major transactions, and advising foreign banks and lenders doing deals in Mexico.

DLA Piper Mexico has been steadily strengthening its practice over the course of its time in the Mexican market, to the point where it has a 12-strong department focused on a full array of finance transactions, whether local or cross-border. Partners Edgar Romo, who is praised for being ‘well-versed in banking matters and a great lawyer’; and Diego Martinez, who is skilled in regulatory banking mandates, co-head the team. The practice represents both financial institutions, and the debtor/borrower side (frequently with public companies), regarding credit facilities, structured finance, project finance, securities offerings and restructurings. Other key members of the practice include counsel Manuel Hallivis, who is ‘very good at handling hotel financings’; and senior associate Adolfo Obregón.

Operating from its offices in Mexico City and Monterrey, Hogan Lovells´s Mexican banking and finance practice, is renowned for advising both lenders and borrowers on regulatory and transactional work, with a particular emphasis on sub-sovereign finance, mainly thanks to the reputed expertise held by Monterrey-based partner René Arce in these sort of mandates. Fellow partner Federico de Noriega, specializes on cross-border financing, project finance and asset-backed loans, supported closely by counsel Aldonza Sakar, who is also skilled in senior secured credit transactions. Backed by the firm´s large international network, they department regularly advises foreign banks; states and municipalities; non-traditional lenders such as funds and SOFOMs; and fintech companies.

International firm Mayer Brown Mexico, S.C. has established a solid Mexican banking and finance practice that focuses exclusively on transactional matters and that has made significant inroads into the fintech space of late. The team, which garners praise for its ‘availability’ as well as for being ‘fast and proactive’, includes partners Raúl Fernández-Briseño, who boasts a strong track-record acting in this sector - especially with banks and private equity funds - and energy expert Ariel Ramos. Well-known too, for its regulatory advice, the practice focuses on securitisation, structured finance, chain finance supply, banking (financial institutions and fintech), and remains active in capital markets matters, primarily cross-border debt issuance. Associates Aldo Jáuregui (who is experienced in M&A and structured finance deals), and Julio Martínez, are other active members of the practice, which can also call of the firm's broader office network.

Clients laud the practice at full-service firm Von Wobeser y Sierra, SC for its perfect understanding ‘important financial and business concepts’, which the lawyers put to use while advising on regulatory mandates, as well as on issues related to financial transactions, credit and debt restructurings, and project finance (among other matters). Another client highlights the team's expertise in ‘payment methods and payment solutions’ and for its ‘knowledge of the regulators' criteria’. The six-strong team, which regularly advises debtors, lenders and guarantors, both domestic and foreign, is led by senior partner Luis Burgueño, who understands ‘the specific needs of the financial sector’; and Alberto Córdoba, who also co-leads the energy practice. Other active members of the team include Alejandro Orellana and Gloria Martínez, promoted to partner and counsel, respectively, in January 2021. Former practice-head Andrés Nieto exited to Creel Abogados, SC in May 2020.

Basham, Ringe y Correa, S.C.  fields a five-strong banking and finance practice group, considered by a client as ‘excellent to work with’ and led by partners Miguel Angel Peralta and Pedro Said. Peralta is regularly sought out by clients for his expertise on syndicated loans and other financing transactions, IPOs, securitisations, and financial regulatory matters; while Said focuses on national and international transactions, including structuring and reorganising financings, guarantees and securities.

Jáuregui y Del Valle, S.C., boasts a ‘very versatile’ banking and finance practice, valued by clients for its ‘availability and technical mastery’. A prominent figure in the practice, Alberto Balderas has ‘great knowledge’ on the fintech front where he has been active assisting companies with their regulatory matters regarding payment networks. Fellow partner Fernando Alonso-de-Florida co-heads the well-rounded department, which is also experienced in securitisations; secured-, project- and real estate finance; and leasing and structurally enhanced products, along with corporate lending, distressed financial assets, derivatives and trading. 

The banking and finance muscle of the former SOLCARGO (dissolved in December 2020) now operates under the name of Pérez Correa González. The new firm houses a five-strong department, co-led by partners Jorge Labastida, who boasts some notable capabilities in this sector, especially regarding asset-backed and structured finance (including project and real estate finance); and Fernando Eraña, whose practice focuses primarily on cross-border finance (secured and unsecured) and venture capital financing; the group regularly advising fintechs, start-ups and non-bank financial institutions, as well as public and private corporations.

Sánchez Devanny acts as a regular advisor for banks, borrowers, and investors on the structuring of their financing transactions. The firm's international experience has given the practice substantial hands-on expertise on cross border loans and the creation of securities in Mexico, along with syndicated multi-jurisdictional loans and bond issuances. The department is jointly-led by Monterrey-based partners Ernesto Silvas-Medina, who focuses on mergers and acquisition financing and restructuring; Francisco Andres Gamez-Garza, who primarily handles commercial lending for the industrial sector; and real estate financing expert Diego Gómez Haro, who operates from Mexico City. Key support comes from senior associate Jaime Moreno-Treviño. 

The Guadalajara-based Vázquez Aldana, Hernández Gómez & Asociados has more than 70 years in the market, during which time it has accumulated a wealth of experience in banking and finance matters. The department, which is one of the core areas of the firm, is managed by Felipe Vazquez Aldana and Fernando Hernández Gómez, who consistently work on the lenders' side, covering a range of loans and other financial transactions, including securitised credits involving mortgages and trust securities. Senior associate Guadalupe Llamas López provides key support.