Central America: Finance 2017

We recognise 76 of Central America’s leading finance lawyers this year. The list includes banking specialists, transactions experts and lawyers with expertise in project financing and capital markets.

Most Highly Regarded
1. Ricardo Arango Arias, Fábrega & Fábrega, Panama City
2. Ana Teresa Rizo Arias, Managua
3. Francisco Arias Morgan & Morgan, Panama City
4. David Gutiérrez BLP, San José
5. Eloy Alfaro B Alemán Cordero Galindo & Lee, Panama City

Costa Rica

In San José, CONSORTIUM LEGAL achieves two listings. With one of the largest teams of lawyers in the region and offices in five countries across the isthmus, it is one of the most recognised firms in Central America.
Mario Quesada Bianchini is a banking law specialist who has significant experience in the integration and merger process of financial institutions.
David Arturo Campos is highly visible in the market and a key figure in the banking and finance space.

DENTONS MUÑOZ competes as a key player in the region and sees two lawyers recognised.
Managing partner José Antonio Muñoz focuses on international trade and foreign investment in the area, where he is highly respected for his longstanding expertise and great legal mind.
Daniel Araya is “a superb attorney” who has experience handling a range of complex and unique financial transactions and has worked with some of Central America’s largest banks.

BLP’s respected banking and finance practice is home to three nominees. The team regularly advise leading multilateral, investment and commercial banks and leasing companies on a wide variety of matters.
David Gutiérrez is an esteemed figure in the market and has significant experience advising corporate clients and in project finance.
Andrés López is recognised as a superb legal mind in the fields of banking and finance.
Neftalí Garro is highly regarded for his expertise in transactions and business, agency and distribution agreements.

ARIAS sees Vicente Lines recommended for his transactional practice where he advises on constructing complex deals for corporate and financial clients.

Dominican Republic

PELLERANO & HERRERA’s Luís Pellerano, a recognised finance specialist, is regarded as “one of the leading names in the field” by market commentators.

The “fantastic” Roberto Rizik of At HEADRICK RIZIK ALVAREZ & FERNANDEZ is a longstanding fixture in the market with considerable experience assisting clients with major financings.

El Salvador

Formerly known as Arias & Muñoz, regional player ARIAS stands out in the Salvadorean market with four lawyers recognised in San Salvador.
Roberta Gallardo advises multinational companies on transactions and project finance in Central America.
Lilian Arias is highly regarded for her two decades of experience in transactions, financing and privatisation in the region.
Armando Arias has expertise in transactions and international trade and has advised corporate clients and financial institutions.
Zygmunt Brett provides invaluable counsel to corporations within multiple industries. His clients include ChevronTexaco, United Airlines, WalMart and Starbucks.

At CONSORTIUM LEGAL, Oscar Samour specialises in transactions and also has experience of foreign investment law. He is one of the country’s foremost authorities on finance law.

At BLP, Ricardo Cevallos heads the firm’s San Salvador office and is known for providing excellent counsel to domestic and international banking clients and financial institutions on financial and transactional matters.


QIL+4 ABOGADOS are a new addition to our listings with three practitioners singled out in the following pages. The firm’s banking and finance team service a wide range of domestic and international banking clients and financial institutions, advising on corporate finance and capital markets transactions.
José Quiñones is recognised as an expert in the banking and finance space thanks to his considerable experience handling high-profile transactions and his knowledge of syndicated loan structures, bonds and debt securitisation.
Alejandro Cofiño impresses respondents with his strong banking, project finance and institutional finance practice. He counts a number of major multinationals among his clients.
Founding partner Marcos Ibargüen Segovia comes highly recommended for his significant expertise in syndicated financings, project financing and all manners of transactions work.

At CONSORTIUM LEGAL, two practitioners are recommended.
Alvaro Rodrigo Castellanos Howell is “one of the country’s best-known banking and finance experts by far”. Recently, he formed part of the team that advised Promerica Financial Corporation on the US$1.474 billion acquisition of Banco Citibank de Guatemala, SA, Cititarjetas, Limitada and others involving over 100 bank branches and assets.
Rafael Alvarado Riedel is also recognised as a significant player in the Guatemalan finance space.

ARIAS sees José Augusto Toledo recognised as “a go-to lawyer” and noted expert in local and international banking regulatory, transactional and financing law.


CONSORTIUM LEGAL sees two listings in Tegucigalpa.
José Ramón Paz boasts over 35 years’ experience advising on high-profile banking transactions and is particularly well versed in cross-border financings. He also provides extensive experience of financial legislation and regulatory issues.
Gustavo León-Gómez Rodas has experience in cross-border banking financing and is regarded as a specialist in the area of corporate and personal credit agreement structuring.

At MELARA & ASOCIADOS two lawyers are listed.
Oscar Armando Melara Facussé is described as “an excellent attorney who is great on transactions” and has particular experience in the corporate space.
Jaime Turcios is recognised for his considerable expertise in finance and corporate law.

At ARIAS, Evangelina Lardizabal is “a very fine attorney” who has a reputation as an eminent figure in the banking and corporate finance field.

LOPEZ RODEZNO & ASOCIADOS sees Rene López Rodezno recommended for his expertise in the field. One respondent said, “I think incredibly highly of him; he is very smart and always a pleasure to work with.”

Dennis Matamoros Batson of MATAMOROS BATSON & ASOCIADOS is regarded as “the man in corporate finance; he is well known in the market.” He regularly advises both local and international financial institutions and corporates on a range of banking and finance matters.

AGUILAR CASTILLO LOVE’s Juan José Alcerro-Milla is “particularly active in high-profile transactional work” and “very highly regarded by his peers”.


CONSORTIUM LEGAL sees four practitioners recommended in Managua.
Olga María Barreto Gutiérrez is recognised as an eminent figure in banking and corporate finance.
Martha Lorena Icaza Ochoa is a banking and finance expert with experience in foreign investment and administrative issues.
José Evenor Taboada has over four decades of experience in banking and finance law and is a pre-eminent figure in Nicaragua and Central America.
Rodrigo Antonio Taboada Rodríguez is recognised as a superb finance lawyer who has been involved in some of the region's major transactions.

ARIAS performs well with two practitioners listed for their expertise.
Ana Teresa Rizo is one of the region’s most highly regarded practitioners. She is noted as an excellent legal mind and is well respected in the field for her expertise in complex financial matters.
Bertha Argüello is recognised for her expertise in the acquisition and opening of financial institutions in Nicaragua and has advised both local and multinational clients.

At BLP, Ernesto Rizo is a leading name in the field and is noted for his expertise in advising corporates and financial institutions on significant transactions and financings.

Gloria Maria de Alvarado at ALVARADO Y ASOCIADOS is recommended for her longstanding experience in the Nicaraguan banking and finance space. She regularly assists clients with corporate matters and due diligence issues.


ALEMÁN CORDERO GALINDO & LEE garners three listings.
Eloy Alfaro B is one of the most highly regarded practitioners in our research and is recommended as an outstanding banking, finance and capital markets lawyer.
Arturo Gerbaud is well known for his expertise in finance matters where he advises corporate clients and banks.
Carlos Cordero has over four decades of experience in the legal profession and is well regarded as a leader in finance law.

ARIAS FÁBREGA & FÁBREGA achieves three listings in its Panama office.
The “highly respected” Ricardo Arango is “a pre-eminent lawyer” recognised for his expertise in all banking and finance matters. He is head of the firm’s capital markets and banking practice group, and its M&A practice group.
Estif Aparicio is recommended for his banking and financial transactions expertise. His experience includes a period as Panama's chief trade negotiator from 2004 to 2006.
Rodrigo Cardoze is well known in the market and is responsible for structuring and documenting financings in significant cross-border transactions.

MORGAN & MORGAN sees three lawyers recommended.
Francisco Arias is one of the region’s foremost project finance lawyers and has significant experience of transactions in numerous industries.
Inocencio Galindo is highly visible in the market where he is recognised as an expert in the sale and purchase of businesses and joint ventures.
Ramón Varela has over 15 years of experience in transactions, project finance and securities law.

Panama City-based GALINDO ARIAS Y LOPEZ sees four lawyers listed for their expertise.
Salomon Behar is one of the leading figures in transactions and project finance including energy and real estate projects.
Roberto De Araujo is recognised for his specialism in banking, capital markets and transactions law.

ALFARO FERRER & RAMÍREZ sees two lawyers listed.
Banking and finance department head Alfredo Ramírez Jr is recognised as one of Panama’s most eminent lawyers in the fields of banking, finance and transactions.
Annette Bárcenas Olivardia advises companies and financial institutions in the electricity and telecommunications sector in Panama.

ICAZA GONZÁLEZ-RUIZ ALEMÁN achieves two listings.
Luis Chalhoub M is a well-known lawyer recognised as one of Panama’s leading lawyers in the finance, banking and capital markets space.
Alexis Herrera Jr is a finance and corporate law powerhouse and a noted specialist in the region.

Cecilio Castillero of SIGMA INTERNATIONAL AND GLOBAL MARKET ATTORNEYS is a leading figure in banking and finance law in Panama.

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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

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