Fernando Peláez-Pier: "The lawyer of the future must cultivate a multidimensional profile"

Fernando Peláez-Pier, Chief Executive Officer of LexLatin, is a key figure in the modernization of the legal profession in Latin America. A lawyer with extensive experience in International Law, Arbitration, Intellectual Property, and Cross-Border Transactions, he has served, among other positions, as President of the International Bar Association (IBA) and has been among the leading figures driving the global expansion of Latin American legal practice. 

He recently visited the LawAhead Center for the Legal Profession at IE Law School, a forum for reflection and debate on the challenges and opportunities facing the legal sector. During an event hosted at IE Tower, which brought together partners and senior executives from law firms and corporate members of the Center, he discussed the current state of the legal sector in Latin America and the transformative impact of artificial intelligence on the profession. 

Following his remarks, he answered questions from IE Law School, sharing his insights on the evolution of the legal market in the region and on the profile that will define the lawyer of the future. 

What are the main risks and opportunities for law firms in Latin America today? 

The main risks facing law firms in the region can be grouped into two fundamental and deeply interconnected categories: political and economic. 

On the political front, we can observe both global and regional tensions. The confrontation between the United States and China exerts significant pressure on Latin America, where China has achieved a notable economic presence—except in Mexico and Colombia. To this, we must add internal political dynamics: several jurisdictions are experiencing deep institutional crises, and key countries are heading into elections that could heighten uncertainty depending on their outcomes. 

Economically, the region is projected to see moderate growth of around 2.5% in 2025. A critical factor is the impact of the policies of the Trump Administration, whose unpredictability adds another layer of complexity to the regional outlook. 

Yet this very uncertainty creates significant opportunities. Sectors such as infrastructure, sustainable projects, and public and private debt restructuring are particularly active. Regulatory uncertainty, political risk, and economic volatility paradoxically translate into greater demand for legal services—firms must navigate and advise clients in this complex environment.

You state that "AI does not replace lawyers—it replaces obsolete practices." What skills will be essential for the lawyer of the future? 

It is essential to recognize that Millennial and Generation Z lawyers possess technological skills that most professionals from Generation X and the Baby Boomer generation did not develop naturally. This gives them a strategic advantage in driving the transformation of current and future law firms.

Legal knowledge will remain fundamental—but no longer sufficient. The lawyer of the future must cultivate a multidimensional profile: developing emotional intelligence to manage internal and external relationships, mastering advanced communication and negotiation techniques, fostering effective collaboration in diverse teams, building solid foundations in finance, and staying constantly updated on developments in artificial intelligence. 

This combination of skills will turn legal professionals into more human and versatile leaders. Traditional professional reputation will no longer suffice to attract and retain clients. True value will lie in becoming the kind of comprehensive strategic advisor that clients need to support their business growth.  

What cultural changes must law firms embrace to ensure that technological adoption is both effective and ethical?

Cultural transformation rests on three key pillars: 

First, learning to communicate effectively. Clear and transparent communication is the foundation of any successful organizational change.

Second, transforming corporate governance. Traditional leaders must recognize that technology and AI are areas they may not fully master. The digital transformation strategy cannot rely solely on them. It is essential to establish intergenerational committees that include professionals with a genuine interest in technology, supported by specialized advisors. Each firm should develop tools that align with its specific needs, rather than replicating those of its competitors.

Third, democratizing technological knowledge. Decisions must permeate all organizational levels through comprehensive technological literacy. This process not only ensures successful adoption but also promotes reverse mentorship—younger professionals guiding senior lawyers in the use of new technologies. Achieving this requires a firm commitment to continuous investment in professional development.

You’ve said that "talent is not retained—it is inspired." How can legal leadership adapt to the expectations of new generations? 

The first step is to understand and accept that new generations have fundamentally different interests, attitudes, and goals. Their search for purpose when joining a firm represents a paradigm shift that leaders must embrace.

Traditional retention strategies are outdated. Occasional dinners with partners or periodic salary increases no longer guarantee loyalty. While no one refuses a raise, money alone does not retain talent. 

Successful firms will be those that actively transform their culture, aligning with the values and principles that resonate with new generations. This does not mean sacrificing profitability; on the contrary, it means evolving to meet the expectations of both modern talent and clients. Cultural renewal is not optional—it is a strategic necessity for survival and growth in today’s market.

What advice would you give to law students who aspire to stand out in an increasingly competitive and tech-driven market?

My message is clear: the knowledge gained in law school is only the starting point. Entering the job market will require mastering a much broader set of skills, regardless of one’s chosen area of specialization.

It is crucial to develop expertise in technology and AI applied to law, data analysis, finance, advanced negotiation, effective communication, emotional intelligence, and leadership. To achieve this, I recommend mapping out a clear roadmap, setting priorities according to professional goals.

I suggest starting by deepening one’s understanding of technology and AI in law. New generations have natural aptitudes that make this learning process easier, and these skills are increasingly valued in the job market.

The great advantage today is the abundance of specialized training programs. Students and young lawyers now have unprecedented access to resources that allow them to build the complementary education essential to thrive in a constantly evolving legal environment.

About the LawAhead Center for the Legal Profession

The LawAhead Center for the Legal Profession at IE Law School promotes reflection on the challenges and opportunities facing the legal sector in Spain and globally. The Center brings together leading business law firms—CMS Albiñana, Cuatrecasas, Gómez-Acebo & Pombo, Garrigues, Pérez-Llorca, Roca Junyent, Sagardoy Abogados, and Uría Menéndez— alongside major corporations such as AENA, CaixaBank, Mapfre, Microsoft, and Telefónica.