Inspiring Women in Law: interview with Lilian Arias after becoming the first female Eminent Practitioner in Chambers Latin America  

"Reputation is built day by day, and directories reflect excellence, experience, and commitment to the client."

Lilian Arias, Managing Partner at ARIAS El Salvador, has achieved a historic milestone by becoming the first woman in Latin America to be recognized as an Eminent Practitioner by the prestigious British publisher Chambers and Partners. With more than 30 years of experience advising leading companies in the region, her expertise spans mergers, acquisitions, financing, and corporate governance. As a team leader, member of the board of the Fundación Lidera, and fellow of the Aspen Institute, her influence transcends the legal sphere. In this interview, we explore her legacy, her vision for the future of law in the region, and the challenges she has overcome along the way.

To learn about her perspective first-hand, we spoke with her in this exclusive interview.

Latin Counsel: What does it mean to you to be the first woman in Latin America recognized as an "Eminent Practitioner" by Chambers?

Lilian Arias: For me, this recognition is very special, not only personally but also collectively. It represents many years of work, commitment, and passion for this profession. Being distinguished as the first woman in Latin America to reach this level also reflects the enormous female talent that exists in our region. I feel that it is not only my achievement, but also a sign that there are more and more opportunities for women in law to lead, inspire, and contribute.

Latin Counsel: Your 18 consecutive years in Chambers, with 14 in Band 1, is exceptional. To what do you attribute this consistency and excellence in your work?

Lilian Arias: I would say to the perseverance and love I have for what I do. I have always believed that this profession requires discipline, preparation, and, above all, listening to people. I have tried to be close to my clients, understand their challenges, and accompany them with clear and practical solutions. I have also been fortunate to surround myself with extraordinary teams, because no recognition is solely individual. Excellence is the result of collective effort and never losing the passion to learn.

Latin Counsel: Throughout your career, you have advised companies on mergers and acquisitions throughout the region. What do you consider to have been the most significant change in the M&A market in Central America since the 1990s?

Lilian Arias: I think the most important change has been the maturation of the market. In the 1990s, many transactions were pioneering, it was about breaking new ground. Today, we see a much more sophisticated ecosystem, with more demanding local and international investors, a more robust regulatory framework, and a more strategic outlook among companies. There is also a growing focus on sustainability and corporate governance issues that were not as prevalent before. All of this has raised the bar for transactions and also the role that we lawyers play.

Latin Counsel: You have worked on large and complex projects with teams of lawyers of different nationalities and cultures. What leadership skills are key to successfully coordinating these teams?

Lilian Arias: The key is to listen and build trust. Each team is different, and each culture brings a valuable perspective. For me, leading does not mean imposing, but rather creating a space where everyone feels part of the common goal. Clear communication, empathy, and the ability to connect people have been fundamental. In addition, I believe it is important to lead by example: to show commitment, respect, and openness so that the team can move forward together, even in complex scenarios.

Latin Counsel: Beyond your legal practice, you are president of the Lidera Foundation. How does your work in promoting ethics and leadership complement your role as a corporate lawyer?

Lilian Arias: For me, leadership and ethics are inseparable from legal practice. Every decision, every negotiation, and every piece of advice requires acting with transparency, responsibility, and respect for others. My approach is to guide clients and the team with integrity, ensuring that our solutions are sound, sustainable, and reliable. I believe that values-based leadership strengthens trust, not only within the team, but also with clients and strategic partners.

Latin Counsel: The testimonial in Chambers describes you as "an extraordinary leader of your team." What is your leadership philosophy and how do you foster talent development in your firm?

Lilian Arias: My leadership philosophy is based on trust and mutual respect. I believe in supporting each team member, giving them space to grow, take on responsibilities, and learn from challenges. I strive to create an environment where initiative, collaboration, and open communication are valued. For me, a good leader inspires and guides, but also listens and learns from their team. This is how we foster talent, motivation, and a shared commitment to professional excellence.

Latin Counsel: You have advised boards of directors in corporate, financial, and tax matters. What is the most recurring challenge that companies face today in terms of corporate governance?

Lilian Arias: One of the most recurring challenges is balancing transparency and strategic decision-making in a rapidly changing environment. Companies must ensure that their structures, processes, and policies not only comply with the law but also reflect good governance practices. In addition, the integration of technology, risk management, and corporate social responsibility have become essential to maintaining shareholder and market confidence.

Latin Counsel: You have a law degree from Dr. José Matías Delgado University and a postgraduate degree from the University of Salamanca. How has your academic background influenced your career development?

Lilian Arias: My academic background gave me a solid foundation for analyzing complex problems, structuring solutions, and communicating arguments clearly and effectively. Each stage, from the University of Dr. José Matías Delgado to Salamanca, taught me the importance of rigor, discipline, and openness to different perspectives. That combination of theoretical knowledge and practical approach has been key to successfully facing the challenges of corporate advisory and complex transaction management throughout the region.

Latin Counsel: As a fellow of the Aspen Institute, how has this experience impacted your vision of the legal profession and leadership in the region?

Lilian Arias: The Aspen Institute allowed me to reflect on the responsibility of leadership beyond the professional sphere. It taught me to consider the impact of our decisions on the community, the economy, and society. It also strengthened my conviction that leadership must be ethical, inclusive, and oriented toward sustainable development. This perspective enriches my legal practice, because I always seek solutions that are not only effective but also responsible and aligned with long-term values.

Latin Counsel: The Salvadoran market is constantly evolving. What new trends or areas of growth do you see as key for corporate lawyers in the coming years?

Lilian Arias: I see significant growth in areas related to technology, innovation, financial regulations, and sustainability. Corporate lawyers will increasingly need to understand the intersection between business, regulation, and digital transformation. In addition, globalization and investment flows require skills to coordinate complex cross-border operations. Therefore, adapting to change, being strategic, and maintaining a comprehensive perspective will be essential competencies to continue offering value to clients in the coming years.

Latin Counsel: You have been recognized on several occasions as one of the leading women in El Salvador and Latin America. In your experience, what are the main challenges women face in the legal field in order to reach leadership positions?

Lilian Arias: The biggest challenge continues to be balancing professional and personal expectations in an environment that can still be traditionally male-dominated. Added to this is the need to constantly demonstrate competence and ability, sometimes more so than their male peers. However, there is increasing support, mentoring, and role models that inspire women to take on leadership roles. I believe that perseverance, self-confidence, and surrounding yourself with a team that values diversity are key to overcoming these challenges.


Latin Counsel: Your experience includes corporate restructuring. In the current economic climate, do you think we will see an increase in restructurings, and what role does legal counsel play in these processes?

Lilian Arias: Yes, economic volatility and regulatory changes are driving a greater number of restructurings. Legal counsel plays a critical role: not only does it ensure legal compliance, but it also helps to design efficient structures, protect assets, and manage risks. In addition, strategic advice allows companies to take advantage of opportunities, minimize negative impacts, and maintain the confidence of investors and partners. Restructuring is both a legal process and a strategic management tool.

Latin Counsel: What do you consider to be the key to maintaining a long-term relationship of trust with multinational clients, such as those you have advised?

Lilian Arias: Active listening, transparency, and constant commitment are essential. Each client is unique and requires tailor-made solutions. Trust is built by demonstrating that we understand their objectives, anticipate risks, and respond in a timely and reliable manner. Maintaining clear communication, offering strategic advice, and always delivering on our promises are the pillars for building strong and lasting relationships.

Latin Counsel: You have participated in structuring loans and guarantees for international financial institutions. What role does El Salvador’s legislation play in attracting this type of financing?

Lilian Arias: When it is clear and stable, Salvadoran legislation provides legal certainty and confidence to international investors. This facilitates the structuring of complex financing and the design of efficient guarantees. Our country has modern legal frameworks that allow for the development of important investment projects, provided they are combined with good corporate governance and compliance practices. Regulatory clarity is essential for attracting capital and sustaining strong international financial relationships.

Latin Counsel: As part of the Young Presidents Organization (YPO), you have a direct connection with business leaders. What skills do CEOs look for in a corporate lawyer today?

Lilian Arias: They look for lawyers who not only understand the law, but also think strategically and understand the business. The ability to anticipate risks, offer practical solutions, and communicate clearly and directly is highly valued. In addition, they expect reliable partners who can coordinate multidisciplinary teams and adapt to rapid changes, always adding value to decision-making.

Latin Counsel: You have also been recognized in the practice of intellectual property. Why do you think IP is increasingly relevant for companies in Central America?

Lilian Arias: Intellectual property has become a strategic asset for companies. It protects innovations, brands, and reputations, and allows tangible value to be generated from intangible assets. In a globalized economy, protecting ideas and creations is essential to maintaining competitiveness, attracting investment, and establishing solid commercial alliances. IP is not just a legal issue; it is a tool for growth and differentiation for any company.

Latin Counsel: Legal directories such as Chambers and The Legal 500 are crucial for the market. What advice would you give to a firm seeking to improve its positioning in these guides?

Lilian Arias: My advice is to focus on the quality of work, professional ethics, and consistency. In addition, document results, maintain good relationships with clients and sources, and be transparent in communication with evaluators. Reputation is built day by day, and directories reflect excellence, experience, and commitment to the client. It is not just about marketing, but about demonstrating real and sustainable impact.

Latin Counsel: What unique opportunities do you see for the professional development of young lawyers in the region at a time of increasing digitization and globalization?

Lilian Arias: Young lawyers have the opportunity to specialize in emerging areas such as technology, FinTech, energy, and international trade. Digitalization facilitates access to information, training, and global collaboration. In addition, they can get involved in international transactions and learn from multicultural teams from an early stage. Taking advantage of these opportunities with curiosity, discipline, and a strategic approach will allow them to stand out and grow quickly in the region.

Latin Counsel: If you had to choose a single professional achievement that you are particularly proud of, what would it be?

Lilian Arias: One of the achievements I am most proud of is having led complex international investment and expansion projects, achieving successful results for clients and strengthening the firm’s position in the region. It is not just the financial or legal outcome, but the ability to build trust, mentor, and develop my team while delivering real and lasting impact to our clients.

Latin Counsel: Finally, what would you say to Lilian, the young lawyer who started her career in the 1990s, with everything you know today?

Lilian Arias: I would tell my younger self to value every experience, to learn from challenges, and to never stop being curious. That the path of law is demanding, but that integrity, passion, and dedication open doors and build a meaningful career and legacy. To trust in her abilities, always seek to learn, and remember that leading also means serving and accompanying others in their growth.

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