Eduardo Elizondo Santos, chief legal officer of Mexican real estate investment fund Fibra Mty, on how he landed on law as a career and the true strategic value of the in-house role
Why did you decide to become a lawyer?
When the time comes to choose the professional path to which you will dedicate your talent and academic preparation, most people are still young and lack the tools needed to make such a consequential decision. There is often little awareness that a profession like law (as with many others) demands significant sacrifices: endless days, strain on family and social life and high levels of stress.
However, it is equally true that, when practised well, law is a noble, exciting and deeply rewarding profession, full of challenges but also satisfaction. Perhaps one of its greatest rewards is the opportunity to meet and work with highly intelligent, prestigious and admirable colleagues, and to participate in transactions and strategies as sophisticated as our own creativity allows.
As in many stories, there was no clear legal lineage in my family. Neither my parents, siblings, grandparents, uncles, nor close relatives were lawyers. Perhaps I chose this profession without fully developed tools to make a carefully calculated decision.
Fortunately, whatever the reason – and certainly as a result of effort, dedication, discipline, passion and perseverance – I am here today. And yes, for those wondering, a touch of luck, timing and circumstance also played their part.
What did your journey in-house look like?
My career began as a full-time student, followed by an unpaid internship, then a junior position with minimal compensation. Gradually, I advanced through various roles in public and private companies, worked as an associate in law firms, became a partner in my own firm, and now serve as CLO of a highly reputable public company. I am responsible for an outstanding legal team, without whose support you would not be reading this today.
In just the first four months of 2026, I have participated in and led highly complex and sophisticated transactions, such as a syndicated loan of approximately $250m governed by New York law; the acquisition of an industrial real estate portfolio for approximately $100m; an equity offering in Mexico with an international component under Rule 144A and Regulation S of the U.S. Securities Act of approximately $500m; and the launch of a public tender offer for real estate trust certificates of a Mexican FIBRA.
These are in addition to day-to-day operations, regulatory compliance, corporate secretarial duties and many other responsibilities. Clearly, the role is far from dull, and continuous learning and professional growth are guaranteed.
How do you view the role of the GC generally?
Today, in-house counsel play a unique and strategic role within organisations – not only as legal advisors, but also as comprehensive business advisers. Their importance has grown significantly in recent years, driven by increased scrutiny from stakeholders, the complexity of regulatory frameworks, and disruptive technological advances such as artificial intelligence (AI).
Despite this, in-house counsel are not always adequately recognised by the legal community, academic researchers or ranking institutions, which tend to focus primarily on large global or multi-practice law firms. This overlooks a significant segment of the profession that operates precisely where business and law intersect.
What do you think is a key trend within the legal industry?
In-house counsel are steadily gaining recognition – and rightly so. In their core role, they serve as guardians of legal risk, ensuring compliance with laws and regulations across jurisdictions, overseeing corporate governance and managing disputes. However, limiting their function to these responsibilities underestimates their true strategic value.
Unlike external counsel, in-house lawyers operate within the business. They develop a deep understanding of strategy, operations, organisational culture and risk appetite. This proximity enables them to provide advice that is not only legally sound, but also commercially relevant. They are often involved in the early stages of decision-making, structuring secure transactions, ensuring successful execution, and anticipating potential legal challenges. This positioning makes them key contributors to value creation.
A strong in-house legal team is undeniably a strategic asset, even if its contribution is not immediately reflected in traditional operational or financial KPIs. For this reason, among others, some jurisdictions – such as Mexico – recognise the head of the legal department as a key executive role. Their leadership is exercised through influence: preventive, proactive and corrective, translating complex legal requirements into actionable business strategies and bridging the gap between regulation and management’s strategic objectives.
How do you approach your relationship with external counsel?
Capable in-house counsel become strategic allies in sophisticated transactions. They occupy a position that no external adviser can fully replicate, combining deep institutional knowledge with legal judgement and decision-making authority.
This transforms the relationship from a transactional client-provider dynamic into a collaborative partnership focused on achieving complex and outstanding business outcomes. In sophisticated transactions such as cross-border M&A, capital markets, financing, or large-scale real estate deals, legal considerations cannot be separated from business objectives, risk tolerance, internal policies, organisational culture or timelines.
While external counsel undoubtedly brings technical expertise and depth, they may not fully grasp the client’s strategic priorities and operational realities. A strong in-house counsel bridges this gap, translating business priorities into clear legal directives and ensuring that external advice is relevant, actionable and tailored.
Acknowledging the strategic role that in-house counsel plays fosters a more collaborative and balanced professional ecosystem, both within the legal community and the broader business environment.
