Inspiring Women in Law: A conversation with Marcela Bernal de Fontanals (Citibank)  

"When it comes to working with firms, we prioritize trust and experience over legal rankings"
 

For our "Inspiring Women in Law" section, Latin Counsel is honored to speak with Marcela Bernal de Fontanals, General Counsel and Senior Vice President of Citibank (Citi), leading legal management in El Salvador and coordinating legal affairs across three Caribbean countries. With a career spanning more than two decades at Citi, Marcela has been a key figure in historic financial transactions in El Salvador, including bank mergers, group reorganizations, and the sale of key businesses. Her role transcends the legal sphere, addressing franchise risk management, corporate governance, and adaptation to new electronic fund transfer regulations. Furthermore, as an active member of the Citi El Salvador Women’s Network, Marcela is a benchmark for female leadership in the challenging regional financial sector. In this interview, we explore her path to success, her vision on diversity, and the advice she offers to the next generation of female lawyers.

Latin Counsel: What made you decide to study Law and how has that motivation evolved from university to your current role as General Counsel in a multinational like Citi?

Marcela Bernal de Fontanals: My decision to study Law stemmed from an innate inclination for problem-solving and simplifying complex matters. This vocation was deeply inspired by my father, a renowned lawyer in the country, whose career was a constant source of inspiration.

LATIN COUNSEL: If you had not pursued a career in law, what profession do you think you would have chosen and why?

Marcela Bernal de Fontanals: If my professional path had not led me to law, I would have loved to explore the world of cooking or tourism—two areas that appeal to me for their dynamism and creativity.

LATIN COUNSEL: Your experience includes practicing at the Arias law firm and serving as a judicial analyst. How did these initial roles help you build the foundation for your success in corporate banking law?

Marcela Bernal de Fontanals: My time at the Arias law firm was an invaluable formative experience, surrounded by highly capable and inspiring professionals. There, I learned the importance of providing excellent customer service, a principle I have consistently applied in all my subsequent roles. Later, my experience as a judicial analyst provided me with deep insight into the functioning of the courts and the analysis of commercial cases, laying a solid foundation for my career in corporate banking law.

LATIN COUNSEL: You started at Citi El Salvador as a legal assistant in 2000. What were the key milestones or decisions that marked your rise to General Counsel and Senior Vice President?

Marcela Bernal de Fontanals: My rise was built on a constant dedication to serving the internal client, proactively resolving and simplifying problems. I was always available to meet needs and, fundamentally, always willing to adopt a holistic perspective ("360 thinking") that transcended mere legality to consider the global impact on the business.

LATIN COUNSEL: You hold a degree as a Lawyer and Notary, and an MBA. In what way has your knowledge of Business Administration enhanced your legal role in strategic decision-making at the bank?

Marcela Bernal de Fontanals: The MBA was fundamental in expanding my thinking beyond strictly legal confines. It provided me with a solid understanding of the integral functioning of a business like Citi, as well as the operations and strategic needs of our clients, enhancing my ability to contribute to strategic decisions.

LATIN COUNSEL: How do you balance efficiency in advising the business with strict observance of the laws where Citi operates?

Marcela Bernal de Fontanals: Balance is achieved through a focus on efficient challenge resolution, avoiding unnecessary legal technicalities. It is crucial to translate legal complexity into understandable language for business areas, clearly communicating the risks associated with any decision that could contravene legal regulations.

LATIN COUNSEL: As legal affairs coordinator for three Caribbean countries, what are the biggest challenges in managing legal and regulatory issues in such diverse jurisdictions?

Marcela Bernal de Fontanals: Surprisingly, I haven’t encountered major challenges, thanks to close collaboration with expert legal advisors in each jurisdiction. Additionally, I have observed that legal logic and fundamental principles are quite similar across Latin America and the Caribbean, which facilitates coordination.

LATIN COUNSEL: You have led the legal coordination of significant transactions such as the sale of consumer and pension businesses. Which of these milestones do you consider the most complex or transformative for Citi in El Salvador?

Marcela Bernal de Fontanals: The acquisition of Consumer Banking was a transformative milestone. For about nine years, we worked with an extensive team, which allowed us to explore and understand processes that were unknown to Citi’s legal team, which until then had focused exclusively on corporate clients. The subsequent sale of this business and the reactivation of a bank focused solely on institutional clients represented a highly enriching challenge, providing us with valuable experience in both client relationship management and the regulatory field.

LATIN COUNSEL: You actively participated in the closure of branches in the Caribbean. What leadership and crisis management lessons did you draw from that process?

Marcela Bernal de Fontanals: The most important lesson was the imperative need to take a sense of "ownership" over the process—to go beyond the minimum legal compliance required. Adopting this attitude allowed us to offer efficient support and reach effective solutions in times of crisis.

LATIN COUNSEL: The successful reopening of the corporate branch in 2016 was a great achievement. What was the biggest regulatory or compliance obstacle the legal team had to overcome for this process?

Marcela Bernal de Fontanals: Rather than obstacles, I would say the main challenge lay in reconciling expectations. The business areas sought solutions that would not inconvenience clients, while regulators required that clients fully understand the change in model. This meant the legal team had to dedicate considerable effort to re-documenting client relationships.

LATIN COUNSEL: Your work has been crucial in the implementation of electronic fund transfer systems. How does the legal team adapt to the speed of technological innovation and new financial regulations?

Marcela Bernal de Fontanals: Our team works in total synchrony with the technology and business areas, actively collaborating so they understand the issued regulations and contributing to the implementation of creative solutions that fit the innovation environment.

LATIN COUNSEL: How does your team use corporate governance to mitigate franchise risk, especially in a constantly changing regulatory environment?

Marcela Bernal de Fontanals: Corporate governance constitutes one of the fundamental pillars for risk mitigation. It allows for a clear definition of the type of decisions each bank official is authorized to make, ensuring a transparent and controlled framework of action.

LATIN COUNSEL: Your department has been award-winning, and you have been included in the Power GC List. What do these recognitions mean to you, and how do you use this visibility to raise the profile of your team and female leadership in banking?

Marcela Bernal de Fontanals: These recognitions are a great honor and serve as a source of inspiration for other female lawyers, demonstrating that it is possible to perform excellent work and fully enjoy our profession. I use this visibility to highlight my team’s talent and promote female leadership in the banking sector.

LATIN COUNSEL: When selecting external law firms to collaborate on complex transactions and regional coordination (such as mergers or sales), what weight or importance do you give to legal rankings and directories (such as Chambers or Legal 500) in your decision process?

Marcela Bernal de Fontanals: We have been fortunate to build very strong collaborative relationships with our external advisors. In our decision process, we rely more on our particular experience and the quality of the relationship established with these firms than on legal rankings or directories.

LATIN COUNSEL: What is the work atmosphere like in the Citi Legal Department and what elements make the corporate culture conducive to the development of lawyers?

Marcela Bernal de Fontanals: The atmosphere in the Legal Department is one of mutual collaboration. We are a team of lawyers who, in many cases, have been working together for about 20 years, which has forged an atmosphere of camaraderie similar to that of a family. Each member knows their role and is willing to help and collaborate. We are all committed to teaching new generations and supporting each other when necessary, which creates an environment conducive to professional development.

LATIN COUNSEL: How do you see the role of women in the world of financial and banking law today, and what are the areas where greater female representation is still needed?

Marcela Bernal de Fontanals: I believe that we, as women, can reach any position we aspire to. I do not perceive gender impediments, but rather a matter of us believing in our competence and ability.

LATIN COUNSEL: As a member of the Citi El Salvador Women’s Network, what are the key policies or initiatives the company implements to drive diversity and female participation in leadership positions?

Marcela Bernal de Fontanals: Citi is characterized by being an extremely open organization and for its firm support of female talent. This means that any qualified woman can opt for any leadership position. A clear example is that our global CEO is a woman, reflecting the institution’s commitment to diversity and inclusion.

LATIN COUNSEL: What kind of mentoring or support is provided to young female lawyers through the Women’s Network to help them overcome barriers?

Marcela Bernal de Fontanals: We have an extensive mentoring program, the most prominent being the one that offers individual coaching sessions. In these sessions, senior professionals at a global level provide direct guidance to our young female lawyers. Citi is an institution that drives people to always give their best, and when that effort translates into excellence, we cannot speak of barriers for women.

LATIN COUNSEL: The banking sector is historically masculine. How do you promote equity and inclusion in decision-making within the legal committee of the Salvadoran Banking Association?

Marcela Bernal de Fontanals: The Salvadoran Banking Association does not present gender barriers; participation is based on ability. If a professional has the honor of being designated legal director of a banking institution, she will receive the same treatment and consideration as any other legal director.

LATIN COUNSEL: What skills, not strictly legal, do you consider the next generation of female lawyers must master to succeed in the corporate financial environment?

Marcela Bernal de Fontanals: I believe that emotional intelligence, the ability to resolve conflicts effectively, and practicality are crucial skills that the next generation of female lawyers must master, as they are characteristics highly valued by clients of any legal professional in the corporate financial field.

LATIN COUNSEL: After more than two decades at Citi, what is the professional and personal legacy that Marcela Bernal de Fontanals aspires to leave at Citi and in the legal community of El Salvador?

Marcela Bernal de Fontanals: I aspire to inspire any young person to believe that it is possible to be a capable and professional lawyer, a mother, wife, and fulfilled family woman, and that all well-done work dignifies the person.

LATIN COUNSEL: As a wife and mother of three, how do you manage to balance your demanding work as General Counsel with family life, and what lessons have you learned along the way?

Marcela Bernal de Fontanals: The most valuable lesson I have learned is the importance of simplifying—of not over-dimensioning work or daily problems, and of approaching life and challenges one day and one issue at a time, even when managing multiple responsibilities simultaneously. As Saint Josemaría Escrivá said: "Do what you ought and be in what you are doing." My formula, which has given me excellent results, is, for example, to concentrate fully during a work meeting, and in the same way, to focus completely when I am with my children.

LATIN COUNSEL: How do you see the future of female legal leadership in Central America and what message would you give to women who are currently studying law?

Marcela Bernal de Fontanals: We can have it ALL. The future of female legal leadership in Central America is promising and full of opportunities. My message to women studying Law is clear: with dedication and confidence, there are no limits to what you can achieve.

LATIN COUNSEL: If you could give just one piece of advice to a young female lawyer starting her career with aspirations to be a General Counsel, what would it be?

Marcela Bernal de Fontanals: My only advice would be: "Do what you ought and be in what you are doing."