Bio

Luisa Soares is an experienced legal executive with 17 years of experience, having worked in both law firms and in-house counsel roles. She is currently the Head of Legal for South America at Revolut.

With a strong focus on fintech, Luisa has played a key role in developing the financial and payments sector in Brazil over the past 7 years. She has been actively engaged in regulatory discussions with the Brazilian Central Bank through market associations and serves as a board member of the Payments Institutions Association (ABIPAG).

Luisa holds a bachelor’s degree in philosophy from the University of São Paulo (USP) and a Bachelor of Laws (LL.B.) from Pontifícia Universidade Católica de São Paulo (PUC), as well as an LL.M. in Tax Law from INSPER and a master’s in philosophy from USP. She has also completed specialised courses in Cybersecurity, Artificial Intelligence, Compliance, and Payments Industry.

Known for her leadership skills, Luisa has led a 20-member team and managed diverse departments, including legal, regulatory, compliance, cybersecurity, data privacy, and operational risk management.

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?

The technology industry has faced significant challenges due to the impact of COVID-19 and a downturn in venture capital investments over the last five years — periods marked by instability and crises, including credibility issues, supply chain disruptions, and workforce changes, highlighting the importance of anticipating and being proactively prepared for the unexpected.

For companies to succeed, clear goals must be defined and measured by KPIs, which should then cascade down to every department. Legal teams must align their goals with the overall company strategy. However, while aligning with the business’s objectives, the legal team cannot lose focus on risk management, business continuity, and contingency planning. Striking the right balance between being a business partner that supports growth and mitigating potential risks is a key challenge for all internal control departments. Achieving this balance requires a comprehensive risk assessment that considers all perspectives.

It is impossible to build a successful business without taking risks. However, it is essential to identify, understand, assess, and mitigate those risks across all areas — whether regulatory, compliance, intellectual property, contractual obligations, liabilities, consumer issues, employment matters, or tax.

At Revolut, agreements are linked to a business continuity plan, risk scorecard, and approval layers based on associated risks to employees, clients, products, operations, and reputation. Transparent communication and tools like Jira and Confluence are used to track information, ensuring that business continuity is not dependent on any individual or partner, so the absence of key executives or partners will not affect products or clients.

Over the years, I have learned the importance of building strong relationships with regulators, authorities, and internal clients. Without these relationships, the legal team may struggle to access critical information, ask the right questions, or fully understand the complexities of the issues at hand. It’s crucial to speak the same language, remain open-minded, approachable, and reasonable. This relationship-building is also essential for creating effective policies and implementing governance within the organisation. It requires explaining the importance of policies, providing clear examples, offering training, and ensuring consistent enforcement. Finally, fostering a culture of ownership, clearly defined stakeholders, and decision-makers is vital.

When these principles are well in place, the company will be better positioned to act quickly when the unexpected occurs. Decision-makers will be equipped to make informed choices, while the team will have the confidence and clarity to execute and adapt as necessary. The guiding principle is: hope for the best but be prepared for the worst.

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

Recently, as Head of Legal for South America at Revolut, I have played a role in several key areas: supporting banking licence applications across multiple jurisdictions, advising on crypto regulation discussions with the Brazilian Central Bank, and providing strategic legal counsel on major business initiatives, such as launching new products in the region.

What emerging technologies do you see as having the most significant impact on the legal profession in the near future, and how do you stay updated on these developments?

Artificial intelligence (AI) is transforming the legal field. Five years ago, as a lawyer about to start a family, I was concerned about AI’s potential effects on workforce development and individuals’ livelihoods. To better understand this technology, I attended a Summer School on AI and Law at the European University Institute in Florence, jointly held with the University of Pittsburgh.

My initial view was that AI is an inevitable force reshaping our world and our relationships in ways never seen before. While intimidating, it is important to embrace its potential while understanding its limitations.

AI tools are useful in drafting documents, automating repetitive tasks, organising and interpreting data, analysing precedents, predicting the outcomes of lawsuits, and monitoring regulatory changes. While these technologies will require adjustments from legal professionals, they can significantly streamline the day-to-day operations of legal departments, ultimately enabling us to be more strategic, make informed decisions, focus on complex matters, and foster creativity.

However, it is essential to note that AI will never replace the value of personal experience, emotional intelligence, and interpersonal relationships, which remain essential to society and human interactions.

Working in the technology industry, I have easy access to information about cutting-edge tools, and I am always committed to using them to enhance efficiency, accuracy, and productivity.