Vicente Corta Fernández

Partner, Mexico City

Biography

Clients enthuse that “he provides a lot of high-level input into the advice that we receive. He is up to date with developments in Mexico and is a solid strategic adviser”
Chambers and Partners Latin America 2019

Overview

Vicente's practice focuses on the regulatory and transactional aspects of banking, project finance, securities and insolvency matters. His deep and wide-ranging knowledge enables him to offer clients comprehensive legal advice on a broad spectrum of complex financial issues.

The leader of the Firm's restructuring practice in Mexico, Vicente has a strong track record leading high-profile restructuring projects in an array of business sectors. Vicente also guides clients through technically complicated derivatives, asset finance and regulatory and compliance issues. Combining a highly focused and thorough approach with an ability to give clear and pragmatic advice, Vicente's advisory practice spans a broad variety of corporate, civil and mercantile matters. Such cases include his successful handling of a number of high-profile shareholder disputes in Mexico.

Vicente also has an exceptionally strong track record in obtaining regulatory authorizations for the incorporation and consolidation of major Mexican financial entities, such as Mi Banco Autofin Mexico, Banco Wal-Mart de Mexico Adelante, Banco Amigo, CIBanco, Bancrea, Banco Fácil, Principal Grupo Financiero, Afore Coppel and Scotia Afore.

He has developed a reputation as a staunch defender of his clients' interests, and he is unfazed by even the most challenging of problems. He displayed these qualities during his distinguished service to his country, developing and implementing difficult yet vital reforms to key financial institutions.

At the request of Mexican President Vicente Fox, he became President of the National Commission for the Retirement Savings System (CONSAR) and implemented a comprehensive reform of the pension system's legal framework and a major overhaul of investment rules. As executive secretary for the government's Bank Savings Protection Institute (IPAB), he won international acclaim for leading the comprehensive overhaul of Mexico's banking system.

Vicente demonstrated a similarly committed approach in positions at the Ministry of Finance, where he was responsible for the legal aspects of the US emergency package to Mexico during the 1995 debt crisis, the restructuring of toll roads and the design of the "Pidiregas" infrastructure projects.

The World Economic Forum named Vicente a Young Global Leader in 2006, a distinction only two other Mexicans received that year. Vicente has been a member or director on the boards of directors of numerous Mexican public sector financial entities, and he has advised the World Bank and International Monetary Fund on international financial matters.

Bars and Courts
Authorized to practice law in Mexico
Education
Master of Laws
University of Warwick
Attorney at Law (Abogado)
Universidad Iberoamericana
Languages
Spanish
English

Experience

Grupo Financiero Banorte US$1.4 billion merger with Grupo Financiero Interacciones
Vicente represented Grupo Financiero Banorte in reaching an agreement to acquire, through merger, Grupo Financiero Interacciones. The acquisition included the banking, broker-dealer, insurance and asset manager subsidiaries of Grupo Financiero Interacciones. The merger was valued at circa US$1.4 billion.

Comisión Federal de Electricidad Energy and Infrastructure Investment Trust
Vicente represented Comisión Federal de Electricidad (CFE), the national electric company of Mexico, in the first publicly traded Fibra E (energy and infrastructure investment trust) focused on Mexico's electric transmission sector and the first publicly traded company sponsored by CFE. Financial intelligence magazine The Banker named this transaction as "Equities Deal of the Year" in 2018.

BlackRock acquisition of Citibanamex Asset Management Business
Vicente represented BlackRock, Inc., in its acquisition of the asset management business of Citibanamex, a subsidiary of Citigroup Inc., and the execution of a distribution agreement under which Citibanamex will distribute certain investment products offered by BlackRock. The transaction involves approximately US$31 billion in assets under management.

Project Financing for Solar Plant
Vicente represented Banco Nacional de Comercio Exterior and Banco Sabadell as lenders in connection with a US$55 million project financing of a 115.5 megawatt solar project located in the state of Durango, Mexico, including all aspects of due diligence related to the project. The sponsor of the project is EOSOL Energy de Mexico. He also represented Banco Nacional de Comercio Exterior, as lender of a VAT facility for US$15 million to finance the VAT associated to the project costs.

Principal Afore acquisition of MetLife Afore
Vicente represented Principal Afore, a pension fund manager and subsidiary of Principal Financial Group, in its full ownership acquisition of MetLife Afore, MetLife's pension fund management business in Mexico.

Bolsa Institucional de Valores concession title to operate a stock exchange in Mexico
Vicente represented Bolsa Institucional de Valores (BIVA), Mexico's second stock exchange, and the first stock market created in Mexico in more than 100 years. Vicente acted for BIVA at every stage of the complex process to obtain a concession title to operate a stock exchange from the Ministry of Finance and Public Credit (SHCP). Financial Times Innovative Lawyers North America gave this deal a "Standout Recognition" in 2018.

Publications

Author, "Consumer Protection," a chapter in Commentaries on Financial Reform, Nacional Financiera, S.N.C. (NAFIN), 2014. According to Jaques Rogozinski, NAFIN's director, the book helps readers to better understand the financial changes presently being implemented in Mexico and includes insights about these changes through perceptive analyses authored by lawyers focusing on financial issues.

Awards and Recognition

Líderes Mexicanos Magazine: One of the 300 most influential leaders

Leading Lawyer:
Bankruptcy/Restructuring – Mexico Corporate/ M&A – Mexico
Banking & Finance – Mexico
Capital Markets – Mexico
(Chambers Latin America 2014, 2015, 2016, 2017, 2018, 2019)

Leading Lawyer:
Banking & Finance, Corporate/M&A – Mexico
(The Legal 500 Latin America 2014, 2015, 2016, 2017, 2018 and 2019)