In conversation
Alejandro Rubilar describes how a stable financial sector, coupled with a push for world-class regulatory standards, have made Chile a competitive market for both local and foreign players.
‘Following graduation from law school, I started as counsel for the legal department of Banco de Chile. Shortly after, I was offered a position with Citibank, and I worked for almost a decade for the corporate and investment bank, ultimately as head of investment bank legal. During that period, I also had the opportunity to join Shearman & Sterling for a couple of years as an international associate in the finance group based in New York, before returning to Citibank. I joined J.P. Morgan in Santiago in 2008 as general counsel for the Chile branch and, last year, I assumed additional responsibilities as head of corporate affairs legal for Latin America.
Banking regulation enacted in Chile in the early ‘80s following the banking crisis has become a model in a number of Latin American countries and, together with a stable and growing economy and sound public policies, has contributed to a strong local financial system. Although not immune to global turbulence because of its interconnectedness, the Chilean banking system has proven to be quite resilient to international instabilities, particularly during the last global financial crisis.
