About

Positioned at the core of Chile’s Banco Consorcio, the highly rated legal unit led by legal vice president Jorge Parker has recently undergone fundamental changes to cope with the evolving business climate in the country. ‘Changes in the tax system, consumer law and everything related to the treatment of personal data and outsourcing of services through [the] cloud have all had an impact on the team’s work,’ says Alvaro Larrain Prieto, a legal and compliance manager within the team. To become more resilient, as well as boost its service offering, the team has both recently expanded its scope with the addition of two new lawyers to its ranks, and has been keen to embrace new technology, incorporating novel IT solutions that have helped it achieve greater agility and closeness to other departments. The impact of these transformations have already been visible, with the team being praised for its dramatic improvements in speed and efficiency over the last two years. Banco Consorcio’s legal department has also made impressions on peers with its transactional work, providing solid advice on external financings, private syndicated credits and a landmark debt public offering. ‘We have worked on the implementation of new products such as the current account, COMEX, leasing, confirming and factoring’ Larrain adds. Lawyers who received special mentions in this year’s research include Jorge Parker, who is characterised by ‘extensive knowledge in banking matters, along with his ability to interact clearly with those who require his advice’, Ximena Vargas, described as a lawyer who ‘stands out for the rigor in the work and excellent legal criteria’, and Alvaro Larrain Prieto, a lawyer featured in last year’s GC Powerlist: Chile, known for his knowledge and industry understanding.