Inspiring Women in Law - Interview with Claudia Barrero

’Women need to be in leadership positions to close the gender gap’
 

Latin Counsel has spoken with lawyer Claudia Barrero, member of the DEI Committee of the PPU Colombia and an M&A, and Capital Markets partner at the elite Colombian firm for two decades.

Claudia was the first lawyer to be made a partner in the Colombian firm and a key player in the integration of Prietocarrizosa into the regional firm Philippi Prietocarrizosa Ferrero DU & Uría ("PPU"), with offices in Bogotá, Santiago de Chile and Lima, in alliance with Uría Menéndez in Spain.

Claudia was the first non-US person to chair the board of directors of SCG Legal, USA in 2014 and is co-chair of the Women’s Lawyers Committee (WLC) and a member of the D&I Council of the International Bar Association (IBA).

She has extensive experience in mergers and acquisitions of listed companies, financial institutions and energy companies, and has advised leading Colombian companies on several equity and debt offerings, infrastructure projects, corporate governance and complex corporate matters.

Among others, she has represented the Colombian Stock Exchange, Grupo Argos, Mutua Madrileña, Celsia, Hocol, Century Energy, Cementos Argos, Banco Santander and Gerdau.

Latin Counsel: How has your growth within PPU been?

Claudia Barrero: I have been an associate for 8 years and a partner for 20 years. You could say that the firm and I have grown together. I was practically trained at PPU. I started my career at the firm when the utilities were being privatised and that meant being involved in huge and very complex projects. It was a great school. That was my first stage as a partner, a very learning stage.

I was the firm’s first female partner, which was also a challenge.  At that time, there were very few female partners in Colombia and I can say that the first ten years of partnership were very exciting, with a growing firm.

At that time, there were very few female partners in Colombia and I can say that the first ten years of partnership were very exciting, with a growing country, a lot of foreign investment coming in and the firm transforming into the organisation it is today.

I am very proud to have been part of the transformation of the firm.  But perhaps the last 10 years have been the most challenging because they coincide with the creation and consolidation of PPU as a regional firm.

I have never been bored, because we are a constantly evolving firm. 
 
LC: What high-profile projects have you led as a partner at PPU and as a specialist in business, finance and markets?

CB: There have been many and it is difficult to choose just a few, but I think the ones that have marked me the most for various reasons are, in chronological order: (i) the privatisation of the then Empresa de Energía de Bogotá (now GEB), being the senior associate of the project and literally my first project in the firm; (ii) the acquisition of Coltabaco by Philip Morris through a tender offer, which in my opinion was the transaction that reopened the tender offer market after several difficult years; (iii) the acquisition of EPSA S. A. E.S.P., which was the first of its kind in Colombia. A. E.S.P., and (iv) the acquisition of EPSA S. A. E.S.P. by Colinversiones (now Celsia) through the first joint IPO in the Colombian market; (iv) the integration of the Colombian, Chilean and Peruvian stock exchanges through the creation of Nuam X; and (v) advising Grupo Argos on the various unsolicited IPOs and the subsequent implementation of the agreement reached by the parties.

LC: What are the most common challenges faced by the companies you advise?

CB: Many and varied. I think a constant challenge is the lack of precedent and the length of procedures.  Foreign exchange and tax regulations are always a big challenge for foreign investors coming to the country for the first time. 

Although Colombia has a solid legal framework, the biggest challenge at the moment is the uncertainty that has moved from the political to the regulatory and economic spheres.  Lawyers have a vital role to play in defending and protecting the rule of law. 

The country needs to protect legal certainty because that is the essential condition for attracting foreign investment and ensuring growth.

LC: How did you become a member of the IBA’s Women Lawyers’ Committee and what do you do there?

CB: I have been working on gender issues for many years and have met brilliant women lawyers. I joined the IBA Women Lawyers’ Committee (the "WLC") following the generous invitation of Patricia Menéndez-Cambó, who was then chairing the IBA Women Interest Group, which later became the WLC. 

The WLC is dedicated to educating its more than 3,000 members worldwide and facilitating the creation of a global network for women lawyers. Its mission includes working to level the playing field in the legal profession and inspiring leaders to work to close the gender gap in the profession. 

We create awareness tools to support this mission and foster connections among women lawyers.  Some of the tools created since the WLC are the Mentoring Toolkit and the Effective Sponsorship Toolkit for Women Lawyers.

We organise quarterly virtual cafés to facilitate knowledge sharing and provide a platform for networking and mutual support.  We have also launched the Males Champions for Change programme, which aims to engage male law firm leaders to actively work to close the gender gap and become role models.

Looking ahead, the Committee is organising the 10th World Women Lawyers Conference in Toronto, Canada on 23-25 October 2024.

LC: What topics or activities are you passionate about on a personal level, apart from law?

CB: I am basically a curious person and always find new interests.  My favourite activity is travelling and experiencing new cultures, but I also enjoy art, music, reading, scuba diving and photography. 

I have a long "bucket list" and the challenge now is to make time for it. 

I enjoy spending time with my family and friends and have recently discovered the art of cooking.

LC: What advice would you give to professional women who want to break into the legal world? And to those who want to get involved in the world of finance and markets more broadly?

CB: To women in general, whatever their profession or trade, to be authentic and confident in their knowledge and skills. To follow their dreams, to persevere, that it is not easy, but it is possible.
 
To women lawyers who want to stand out in the financial and capital markets, that they prepare themselves, do not doubt their skills and knowledge, build a network (become part of interest groups, specialised bar associations), understand the business and seek to lead. Women need to get into leadership positions and try to close the gender gap. 

We are at a very interesting inflection point, with technology and artificial intelligence having a significant impact on markets.  Knowledge and creativity are essential right now. 

I think markets as we know them are going to change a lot and we need to be prepared for the new challenges.

Learn more about Claudia Barrero