Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

We had to adapt quickly to changes in the property development business; residential housing has experienced a tremendous slowdown prompting us to take proactive measures. We decided to focus on land reserves suitable for affordable housing and generated value in those reserves by developing them through partnerships.

Can you foresee any key developments to the way general counsel work over the next five years?

Every year it becomes more difficult to keep matters well attended and within budget, many firms have opted to hire in-house lawyers and expand their teams, but the demand for external counsel remains constant. Forming partnerships that aim to achieve objectives and save a sizeable portion of fees to that end is a great way to build this. Furthermore, it is worth noting that there is a growing trend towards setting higher limits on fees.

What are some of the main trends impacting the industry sector you work in in Mexico?

Nearshoring, without a doubt. Mexico has a great opportunity, but also the great domestic challenges, clean energy sources are a necessity, but we are behind in this regard. There is no industrial space available for rent and what is being built is usually leased before its completion. There is opportunity there, hopefully, regulatory developments will match the pace required to seize this great opportunity.

Mexico is known for its extensive network of international trade agreements. How would you navigate the complex legal requirements associated with cross-border transactions, considering the changing trade dynamics and regulations in Mexico?

Without a doubt with specialised external counsel. It is law firms of this type that can guide us through the rough waters of international treaties. Given the number of factors to consider, my best recommendation is to collaborate with external counsel and acquire new skills without risking a significant mistake that could jeopardise the deal or result in substantial losses and missed opportunities, potentially amounting to millions.