Grupo Financiero Banorte

Grupo Financiero Banorte

The in-house legal team at Grupo Financiero Banorte (GFB) has 320 lawyers and staff members and is led by Hector Avila Flores, managing director of legal affairs and secretary of the board of directors for GFB and its subsidiaries. The legal team, which has recently rapidly expanded, is structured in order to provide effective legal services and legal counsel to internal clients, in alignment with the Group’s business units structure: wholesale banking, M&A, government credits, corporate credits, insurance, retail banking, fiduciary, leasing and factoring. Last year it reached in eight months, a record time, the merger of GFB and GFI including all subsidiaries. The amount of the transaction was Mex$20bn. This operation was endorsed by the Ministry of Finance and Public Credit with authorisation from the Bank of Mexico, the National Banking and Securities Commission and the National Insurance and Bonding Commission, and was concluded successfully as of July 2018. Flores highlights that his team provides, ‘the best legal services with the highest standards of response time for our internal clients’ and is recognised widely in the sector.