Embracing Change: «The legal market in Latin America is undergoing significant generational transitions»

In this insightful interview, Latin Counsel has had the privilege of speaking with Francisco Cerezo, Chair of the US-Latin America practice at DLA Piper.

With a wealth of experience in corporate and international law, Francisco advises a diverse clientele that includes US and foreign companies, private equity funds, family groups, and sovereign entities engaged in global business, particularly across the Americas and the Caribbean.

As the legal landscape in Latin America undergoes transformative changes, driven by generational transitions within firms and the rise of technology, Francisco shares his perspectives on the trends shaping this dynamic environment. He discusses the growth areas within the legal market, the strategic advantages DLA Piper offers its clients, and the significant role of AI in enhancing legal services.

Furthermore, he reflects on the firm’s commitment to talent retention and the culture of collaboration that characterizes its operations across the region.

Join us as we explore Francisco’s journey in law, his insights on the evolving industry, and his advice for the next generation of legal professionals.

Francisco focuses his practice on corporate and international matters, advising US and foreign companies, private equity funds, family groups and sovereigns doing business globally and with a focus in the Americas and the Caribbean.

Latin Counsel: What trends and developments are shaping the legal landscape in Latin America?

Francisco Cerezo: The legal market in Latin America is undergoing significant generational transitions, as leadership changes in top firms create opportunities for strategic realignment and talent acquisition. At DLA Piper we are well-positioned to capitalize on these shifts with our integrated global platform and local expertise in markets such as Argentina, Brazil, Chile, Mexico, Peru, Puerto Rico, Iberian Peninsula and with a significant presence in major Hispanic population centers in the US.

High-growth areas like corporate/M&A, private equity, and infrastructure continue to drive demand, particularly for P3 projects. Technological advancements, particularly in AI, are also reshaping the legal industry, enabling firms like ours to improve efficiency and client service through AI-driven tools for due diligence and regulatory compliance.

Technology, particularly AI, is also transforming legal services by optimizing processes like deal execution and procurement, offering cost-effective solutions and boosting overall efficiency.

LC: Which industries in Latin America are experiencing exceptional growth?

FC: Corporate/M&A, private equity, and infrastructure—especially through P3s—are experiencing significant growth due to increased demand for infrastructure and fiscal constraints in the region. Other active practices and sectors include energy, TMT, finance, restructuring, and capital markets, where opportunities for investment in both distressed and emerging markets abound.

LC: What advantages do clients gain by choosing DLA Piper in the region?

FC: Clients benefit from our global reach and deep local expertise, with more than 400 attorneys across key Latin American markets along with our US based Latin America focused team. The firm provides harmonized legal services across multiple jurisdictions through a single point of contact, making cross-border mandates seamless.

Our commitment to innovation through AI-driven solutions further streamlines processes like due diligence, offering clients more efficient, cost-effective services. Additionally, with lawyers who are from Latin America and fluent in Spanish or Portuguese, we bring nuanced, culturally relevant advice to each engagement.

LC: How do you foresee AI impacting the legal industry in Latin America?

FC: AI is already significantly reshaping the legal industry by automating routine tasks such as due diligence, discovery, and procurement, improving efficiency and reducing costs. As AI tools take on more mundane legal tasks, firms will be able to focus on providing high-level, strategic advice to clients. AI is still in its nascent stages and we are only beginning to see its potential.

Firms that embrace AI will have a competitive edge in delivering faster, more cost-effective services, while those that don’t may struggle to meet evolving client expectations.

LC: What strategies do you consider vital for retaining talent within your firm?

FC: Effective talent retention requires succession planning, embracing technology, fostering cultural inclusivity, and offering career development opportunities. For senior professionals, leadership and strategic involvement are key, while younger colleagues value learning opportunities and work-life balance.

Flexible work arrangements, technological innovation, and strong mentorship programs help ensure long-term engagement and satisfaction across different levels of seniority. Lastly, being a meritocracy where collegiality, hard work, seriousness of purpose and intellect are rewarded above all else is of paramount importance.

LC: What achievement in your Latin American expansion are you most proud of?

FC: We are proud of many aspects our growth but we continue to fine tune our strategic plan and focus on execution. We have had a number of notable highlights including the increased bench strength of our US based NY admitted Latin America facing team as well as the recent opening of our Foreign Legal Consultancy, DLA Piper Brazil based in São Paulo. We are also extremely proud of the cohesiveness and connectivity of our team throughput the region, evidenced by the daily and meaningful interaction of our teams across jurisdictions wherein lawyers in Buenos Aires, São Paulo, Santiago, San Juan, Lima and Mexico are working shoulder to shoulder on a daily basis with colleagues in New York, Miami, Madrid and across the globe. That level of collaboration and connectivity is remarkable and we are extremely proud of it.

LC: What motivated you to pursue a career in law?

FC: My passion for law was shaped by my experience growing up in Puerto Rico and witnessing the dynamic societal changes in Latin America, Puerto Rico and the diverse US Hispanic/Latino community. Law offers a way to address complex social issues and drive positive change, particularly in regions undergoing transformation. The opportunity to combine my bilingual, bicultural background with legal expertise to bridge local and global perspectives inspired me to pursue a legal career.

LC: If you had not chosen law, what other career path might you have followed?

FC: If not for law, I might have pursued a career in literature or academia or public service. My passion for post-boom Latin American and US Latino literature, along with my interest in social justice and identity, could have led me to explore cultural narratives and contribute to discussions on social change through academic or public policy work.

LC: What hobbies or activities do you enjoy outside of work?

FC: I love traveling, having visited over 65 countries across almost every continent. I also enjoy spending time with family in Puerto Rico, where I feel most at peace by the ocean. Additionally, literature remains a deep passion of mine, especially Latin American and US Latino literature. Of course, swimming in the ocean, a bike ride, pilates and going to the gym also help with well being and quality of life.

LC: What advice would you offer to a young lawyer just starting their career?

FC: Stay adaptable and embrace innovation, particularly in areas like AI. Develop your skill set, build strong client relationships, and leverage your unique background to stand out. Participate in pro bono work to gain valuable experience and give back to the community. Finally, understand the local dynamics of the Latin American market and be tenacious in navigating its complexities.

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