María Loreto Galaz – GC Powerlist
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Chile 2025

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María Loreto Galaz

General counsel, Chile | Deloitte

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Chile 2025

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María Loreto Galaz

General counsel, Chile | Deloitte

What are the most significant cases and/or transactions your legal team has been involved with recently?

One of the most significant cases and transactions that Deloitte’s legal team has recently been involved with is the acquisition of 100% of Virtus Partners and the arrival of Monitor Deloitte in Chile. This operation represents a milestone in the field of strategic consulting and business transformation in the Chilean market, positioning Deloitte to offer comprehensive solutions that cover everything from strategy design to execution.

Deloitte’s legal team played a fundamental role throughout the process, providing support in due diligence, negotiation, regulatory compliance and the integration of teams and operational structures. The acquisition involved complex legal and regulatory considerations, as well as the need to align different organisational cultures and business models. The integration of Virtus Partners and partners from a boutique consulting firm strengthens Deloitte’s value proposition by combining its global scale and technical capabilities with Virtus Partners’ local experience, agility and close client relationships.

From a legal perspective, the transaction was particularly significant due to the challenge of ensuring a smooth transition for Virtus Partners’ professionals and clients, safeguarding the continuity of ongoing projects and protecting existing relationships. The legal team played a key role in structuring the agreement to facilitate integration and ensure stability throughout the change process, maintaining the trust of clients and collaborators.

The impact of this transaction goes beyond Deloitte, as it sets a new standard in the Chilean strategic consulting market. The integration creates a unique platform that combines strategic thinking, advanced technology, analytics, sustainability, artificial intelligence, M&A and change management, all within a single organisation. This comprehensive approach enables Deloitte to position itself as a key partner for companies seeking deep transformations, with an innovative, integrated vision adapted to the challenges of an increasingly dynamic and connected environment.

How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?

During periods of instability or crisis, managing legal aspects becomes extremely important to ensure organisational resilience and business continuity. In this context, legal departments today must adopt an approach that combines proactivity with a strategic vision aligned with business objectives, in order to anticipate risks, respond swiftly to changes, and contribute to informed decision-making.

First, legal management in times of crisis involves the early identification of both legal and regulatory risks. This requires constant monitoring of the regulatory environment and market trends, as well as fluid communication with other key areas of the organisation, such as compliance, human resources, finance and technology. Anticipation is fundamental: legal departments must analyse possible scenarios, assess the impact of new regulations or legislative changes, and prepare responses or contingency plans that enable the company to adapt quickly.
At the same time, the legal strategy must be fully aligned with that of the organisation. This means that legal teams should not only focus on reactive management of litigation or regulatory compliance, but also actively participate in strategic planning, providing a comprehensive view of legal risks and opportunities that may affect the business. For example, when adopting new technologies or entering new markets, the legal department must evaluate applicable regulatory frameworks, identify potential legal barriers, and propose solutions that enable sustainable and secure growth.

During crises, transparency and effective communication are essential. The legal department must promote a culture of compliance and ethics at all levels of the organisation, ensuring that all areas understand their legal obligations and the risks associated with their decisions. This strengthens a fundamental pillar both internally and externally: trust, which contributes to the company’s reputation and ensures it is regarded as a reliable and responsible institution.

The implementation of clear policies and procedures enables more robust legal resilience, where incident response protocols, litigation management, and the protection of sensitive information also play a key role. Additionally, it is crucial to foster continuous training for legal teams and the entire organisation in risk management, compliance, and international best practices.

In the case of Deloitte, for example, organisational restructuring has been led by the legal area, from which we have ensured regulatory compliance within the firm, supervised contractual relationships, and promoted transparency and good practices through official organisational channels. Our legal department has positioned itself as a strategic ally of corporate governance, facilitating evidence-based decision-making and supporting effective conflict resolution.
I believe that managing legal aspects during periods of instability requires a strategic vision, anticipation, adaptability, and deep integration into the business strategy. Only in this way is it possible to build resilient organisations capable of facing uncertainty, protecting their interests, and generating sustainable value for clients, employees, and society as a whole.

Based on your experiences in the past year, are there any trends in the legal or business world that you are keeping an eye on that you think other in-house lawyers should be mindful of?

At Deloitte Chile, we conducted the study ‘Exploring the Legal Horizon: Current and Future Trends of Legal Departments in Chile.’ This document allows me to affirm that there are several emerging trends and challenges in the legal and business landscape that in-house counsel must closely monitor to ensure the success and relevance of their areas within organisations.

Firstly, a fundamental trend identified in our study is the increasing need for legal departments to be strategically integrated with the business. The legal area is no longer expected to serve merely as a technical support function or as a reactive entity in the face of contingencies. On the contrary, it is now valued that in-house lawyers have a deep understanding of the company’s core business, organisational culture, and the specific challenges it faces. Such integration enables the alignment of legal strategy with corporate objectives, allowing legal teams to anticipate risks and opportunities, and to contribute actively to the achievement of business goals. In this regard, the role of the corporate lawyer is evolving into that of a strategic partner, capable of providing a holistic perspective and delivering high value-added insights.

Secondly, our study demonstrates that proactivity and agility have become essential attributes for legal departments. Internal clients expect the legal area not only to resolve issues as they arise, but also to act preventively, identifying potential contingencies and proposing innovative solutions to mitigate risks before they materialise. Furthermore, speed of response is a key factor in maintaining the trust and satisfaction of internal teams, especially in an increasingly dynamic and competitive business environment.

Another significant trend is the growing adoption of management systems based on performance indicators, such as KPIs (Key Performance Indicators) and KPOs (Key Performance Objectives). According to the study’s findings, a significant proportion of legal departments already use these indicators to measure efficiency, service quality and the achievement of strategic objectives. This practice enables legal teams to demonstrate their added value to senior management, optimise internal processes, and facilitate accountability in a context of heightened demands and transparency.

Adapting to regulatory changes is also a top priority. The regulatory environment in Chile and the region is becoming increasingly complex and dynamic, requiring legal departments to demonstrate exceptional resilience and flexibility. Remaining up to date with new laws and regulations, and swiftly adjusting legal and compliance strategies, is essential to avoid contingencies and safeguard the reputation and sustainability of organisations.

Additionally, the study highlights the management of business growth and the resulting increase in legal workload as a relevant challenge. Legal departments must seek ways to maintain the quality and efficiency of their services, even in periods of expansion, by optimising resources and effectively prioritising tasks.

Finally, the attraction and retention of legal talent stands out as a strategic challenge. Having multidisciplinary teams with both technical and strategic skills is essential to address the current and future challenges facing the legal sector.

In light of the above, we believe it is crucial for in-house counsel to maintain a strategic, proactive and flexible approach, leveraging management tools and prioritising talent development, in order to add value and strengthen their role within organisations in this challenging and constantly evolving environment.

Looking forward, what trends do you foresee in the legal landscape over the next 5–10 years that companies should prepare for?

Based on the study conducted by Deloitte Chile, several key trends can be identified in the legal landscape for the next five to ten years, which companies should consider and prepare to address.

Digital transformation and automation of the legal function is already underway, with more than 50% of legal departments in Chile engaged in innovation processes through technology. This reflects a clear trend towards the digitalisation and automation of operations. Tools such as document management systems, contract repositories and workflow systems are being prioritised, enabling more efficient management of legal documents and cases.

Accelerated adoption of artificial intelligence is another major trend. Globally, 93% of legal managers believe that AI can quickly add value, and more than 75% plan to increase their investment in these solutions. AI is expected to move from isolated implementations to transversal integration within legal and business workflows, allowing for risk identification, suggesting alternative wording, and automating repetitive tasks.

There is also a growing focus on efficiency and return on investment. Organisations are seeking measurable benefits from technology, such as greater efficiency, reduced turnaround times and improved decision-making. The main challenge will be to turn the potential of AI into tangible returns. Already, 74% of the most advanced organisations in AI state that this technology meets or exceeds their return on investment expectations.

New challenges in technology adoption persist. Barriers include a lack of awareness of the quantifiable advantages of technology, insufficient budgets, oversight and maintenance of platforms, and difficulty in selecting the most suitable tools. This highlights the need for ongoing training, budget planning and a comprehensive technology adoption strategy.

The strategic role of legal departments is also evolving. Legal leaders are taking on a more strategic role, leading transformation initiatives and supporting their organisations in the safe adoption of new technologies. This shift will allow legal teams to focus on higher-value-added tasks and strategic risk management.

The rise of alternative legal service providers (ALSPs) is expected to increase significantly. ALSPs bring technological specialisation and help manage the legal workload, particularly in the integration and utilisation of advanced tools such as AI.

Finally, evolution towards agentic AI, capable of reasoning, researching and making autonomous legal decisions based on predefined criteria, is anticipated to have a transformative impact, surpassing current solutions such as chatbots or robotic process automation (RPA).

We believe that companies should prepare for a profound digital transformation in the legal area by investing in technology, training and organisational change strategies. The adoption of AI and collaboration with specialised providers will be key factors in positioning the legal function as a strategic and efficient partner within the organisation.

María Loreto Galaz - Chile 2024

General counsel, Chile | Deloitte

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