ZBV at 50 | Carolina Zang on legacy, institutional resilience and navigating change in Argentina  

As Zang, Bergel & Viñes marks five decades, its partner Carolina Zang reflects on continuity, adaptation and the challenge of building a lasting legal institution in a volatile market.

In a legal market defined by volatility, few firms reach five decades of uninterrupted activity. In Argentina, where economic cycles, regulatory shifts and structural uncertainty are the norm rather than the exception, longevity is not only rare — it is a measure of institutional strength.

Founded in 1975 by Saúl Zang, Salvador Darío Bergel and Ernesto Viñes, Zang, Bergel & Viñes — today ZBV Abogados — reaches its 50th anniversary as one of the exceptions among Argentina’s large law firms: a firm that has remained active through successive economic cycles, profound market transformations and a country in constant change, while preserving a clear identity.

Over those five decades, the firm has combined technical rigour with a business mindset, building long-term relationships with some of the country’s leading companies and accompanying key milestones in Argentina’s economic development.

Its trajectory spans core areas such as Real Estate, Corporate and M&A, Banking, Finance and Capital Markets, as well as recognised practices in restructurings, litigation, energy, compliance, sports and entertainment, intellectual property and labour law. More recently, it has also positioned itself at the forefront of legal advice related to digital transformation, artificial intelligence and emerging business models including fintech, agtech, proptech and tokenisation.

Today, as it marks 50 years, ZBV is in a phase of renewal. The firm has introduced a new visual identity, relocated to offices designed around collaborative work and reinforced its strategic focus on industries and global challenges.

Carolina has been a key partnerand head of the Banking and Capital Markets practice. A graduate of the University of Buenos Aires (1995) and holder of an LL.M. from New York University School of Law (1998), she has built a career focused on corporate legal advice, particularly in financing, capital markets, debt restructuring, M&A, investment funds, private equity and venture capital, project finance and real estate. Her professional path includes both public and private sector experience, as well as international exposure in New York.

Beyond the firm, she maintains a strong institutional presence: she is a former Chair of the Latin American Regional Forum of the IBA, has held leadership roles in academic and professional bodies, and actively contributes to initiatives related to governance, access to justice and institutional development.

In this conversation with LATIN COUNSEL, Carolina reflects on legacy, institutionalisation, the evolution of the Argentine legal market and the meaning of building a firm that endures.

LATIN COUNSEL: Reaching 50 years of uninterrupted activity is highly unusual in Argentina. What does this milestone represent in substantive terms?

Carolina Zang: Reaching half a century is not simply about marking a date. It is about recognising that we have gone through different contexts, economic cycles and profound transformations and, even so, continue to sustain a clear identity defined by assertiveness, professional excellence and the ability to anticipate what lies ahead.
In a country like Argentina, where conditions are often unstable and unpredictable, maintaining that continuity requires constant adaptation. More than a celebration, this anniversary reflects that process — of having evolved through change without losing direction.

LATIN COUNSEL: How do you interpret continuity in such a volatile environment?

Carolina Zang: Contexts change, the country changes, but values are what allow us to project ourselves forward and support those who make decisions. Ethics, commitment and a strong sense of service have been central to the firm’s trajectory. These elements provide consistency even when external conditions shift. Continuity is not about resisting change — it is about evolving while maintaining a clear identity and integrity

LATIN COUNSEL: From the outset, ZBV has combined legal rigour with a business mindset. How has that shaped its positioning?

Carolina Zang: From the beginning, the firm distinguished itself through a way of practising law grounded in a business mindset, combining technical rigour with a deep understanding of the corporate world. This approach has allowed us to remain relevant over time and to build long-term relationships with leading companies. It also means that legal advice is never isolated — it is always connected to broader strategic, business  inter-disciplinary considerations

LATIN COUNSEL: To what extent is the firm’s trajectory linked to Argentina’s economic development?

Carolina Zang: The history of ZBV is closely tied to some of the most significant milestones in Argentina’s economic development. A key turning point came in the 1990s, when the firm participated in large-scale international transactions and advised companies beginning their global expansion. Since then, we have continued to work alongside businesses that generate employment and actively transform the country’s productive landscape.

LATIN COUNSEL: How has that evolution translated into the firm’s practice areas?

Carolina Zang: That evolution has consolidated the firm’s position in its core practice areas. It has also enabled the incorporation of new clients and the addition of highly qualified professionals, strengthening and expanding those areas in line with the firm’s strategic direction. This breadth reflects a capacity to adapt to changing market needs without losing depth or specialization.

LATIN COUNSEL: More recently, the firm has expanded into new sectors. How do you see that shift?

Carolina Zang: In recent years, the firm has been a pioneer in legal advice related to digital transformation, artificial intelligence and emerging business models such as fintech, agtech, proptech and tokenisation. We have consistently been involved in innovative transactions, advising companies that generate employment and drive economic transformation. This is not a departure from our history — it is a continuation of our role in evolving markets.

LATIN COUNSEL: The anniversary comes at a time of renewal for the firm. What does that renewal involve?

Carolina Zang: The firm approaches its 50th year as a stage of renewal. This includes a new visual identity; new offices aligned with collaborative work and a reinforced strategic focus on global industries and emerging challenges. It reflects a commitment to evolve while maintaining the firm’s core identity.

LATIN COUNSEL: In Argentina, institutionalisation is often a challenge. What does it mean in your case?

Carolina Zang: Reaching half a century speaks to institutionalisation and professionalisation — something that is not easy in this market. It reflects the ability to build structures that go beyond individuals, to sustain a long-term vision and to maintain consistency despite external instability.

LATIN COUNSEL: What role do values play in sustaining that continuity?

Carolina Zang: They are fundamental. This anniversary also highlights values such as  camaraderie and collaboration — not only within the firm, but within the broader professional environment in Argentina. We work with passion and energy, but always with respect and generosity as guiding principles. Those values are part of what allows the firm to endure. In that sense, the generosity of the founding partners has been essential. Without their willingness to create space for new generations and to share opportunities, this evolution would not have been possible. That openness became a defining element of the firm’s culture and a key ingredient in its long-term continuity.

LATIN COUNSEL: How have you marked the 50th anniversary?

Carolina Zang: We have been marking this milestone through a series of moments — with clients, internally with our team, and alongside colleagues across the industry.
Each of these has offered a chance to pause, reflect on the path travelled, and share this meaningful stage with those who have been part of the journey. At the same time, this anniversary is not limited to a single moment: it continues to unfold, with many more opportunities ahead to commemorate and build on what has been achieved.
We are deeply grateful to everyone who has been part of these celebrations so far, both in person and from a distance.

LATIN COUNSEL: What does this milestone represent in terms of legacy?

Carolina Zang: More than a celebration, this anniversary represents a tribute to the founders’ sense of transcendence and a platform to continue building the future we want.

LATIN COUNSEL: How would you describe the firm today?

Carolina Zang: Today, the firm continues to be a relevant and well-established player in the market, consistently recognised by international rankings and through its strong integration into the business community.

LATIN COUNSEL: What role does pro bono work play in your vision of legal practice?

Carolina Zang: Pro bono work plays a central role both at a personal and institutional level. I serve on the Board of Directors of the Pro Bono Commission of the Buenos Aires Bar Association, reflecting a broader commitment to access to justice and institutional development. At the firm level, ZBV has maintained since its origins a strong vocation for collaborative work and social impact. The firm actively participates in pro bono initiatives, supports civil society organisations and promotes a diverse environment as a foundation for professional excellence. Pro bono work not only expands access to justice — it also strengthens the commitment and human development of teams, reinforcing the idea that legal practice carries both professional and social responsibility. It also has its own collateral value, helping our professionals develop essential soft skills that are not typically learned in law school.

LATIN COUNSEL: How do you see diversity within the firm?

Carolina Zang: A diverse environment is a foundation for professional excellence. It strengthens teams, perspectives and the long-term sustainability of the institution.

LATIN COUNSEL: You’ve been recognized as an inspirational woman. What key moments have shaped your professional and personal journey?

Carolina Zang: I´m truly grateful for this acknowledgment. My journey has been defined by building trust in demanding environments, growing as a lawyer in complex areas like capital markets, and stepping into leadership roles early on. At the same time, becoming a mother shaped not only my priorities, but also my perspective — reminding me that growth is never one-dimensional. Over the years, my focus evolved from practicing law to understanding how organizations truly work: how decisions are made, how talent develops, and how cultures shift. Today, what drives me is contributing with experience and judgment, while helping create environments where others can grow, lead, and find their own path.

LATIN COUNSEL: What led you to pursue a career in law?

Carolina Zang: My professional path has been defined by a strong academic foundation and sustained engagement with both legal practice and institutions. Studying law at the University of Buenos Aires, followed by postgraduate work at NYU and early professional experience in both Argentina and New York, shaped my understanding of law not only as a technical discipline, but as a framework for engaging with business, institutions and decision-making.

LATIN COUNSEL: How have you evolved alongside the firm?

Carolina Zang: My evolution has gone hand in hand with the firm’s development — from a specialized legal practice to positions of increasing responsibility and broader institutional engagement. I played an active part in the transition from a family-based firm to a more institutional and structured organization, strengthening governance, professionalizing processes, and consolidating a culture based on merit and teamwork.
Throughout this journey, I’ve learned that sustainable progress is collective, and that guiding change requires consistency, perspective, sound judgment, and trust.

LATIN COUNSEL: Finally, what defines the next chapter for ZBV Abogados?

Carolina Zang: Fifty years on, the firm looks ahead with the same spirit that defined its origins: to provide creative and efficient legal solutions that support projects, generate value and contribute to the country’s economic development. This anniversary is not an endpoint — it is a platform for what comes next.

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