
Capital Markets
Latin America Guide 2026 : Panama
Rankings

Ranked Individuals
Ranked Individuals
About
Provided by Alemán, Cordero, Galindo & Lee
Alcogal advises many of the world’s largest and most sophisticated financial institutions on a full-range of banking, securities, and related regulatory matters in the Republic of Panama. Alcogal is an acknowledged industry leader in the banking and finance sectors, and has been involved in Panama’s largest and most complex financial transactions.
We represent many of the local and global leading financial institutions in international and domestic bank financing and other forms of acquisition and project financings, including but not limited to public tender offers, asset purchase financing, and mezzanine financings. Our lawyers advise our clients in regards to their ongoing regulatory and disclosure obligations with all the relevant local and foreign authorities and ensure they are up to date concerning all legislative developments. In addition, we regularly represent financial institutions and/or intermediaries in the process of obtaining government-issued licenses to operate in Panama, in accordance with all banking and securities laws.
Clients (10)
- Citibank, N.A.
- Banco General, S.A.
- Banistmo, S.A.
- Banco Santander (Panama), S.A.
- BAC International Bank Inc.
- BG Valores, S.A.
- UBS AG
- UBS Asesores, S.A.
- The Bank of Nova Scotia
- Global Bank Corporation
Industries (3)
- Banking
- Finance
- Capital markets
Chambers Review
Provided by Chambers
Work Highlights
Provided by Chambers
Alemán, Cordero, Galindo & Lee advised Desarrollos Comerciales on the registration of amendments to certain terms and conditions of its corporate bonds.
Strengths
Provided by Chambers
Alemán, Cordero, Galindo & Lee's team is very savvy, sees all points of view and offers specialists in each area. I really like their availability and temperament. I've never had a call unanswered.
Capital Markets respondentLatin AmericaALCOGAL stand out for having all the necessary documents ready to go and diligently chase down loose ends. They provide good counsel to navigate the many issues that can emerge.
Capital Markets respondentLatin America
Notable Practitioners
Provided by Chambers
Eminent Practitioners 
Eminent Practitioners 
Arturo Gerbaud de la Guardia
Eminent practitioner Arturo Gerbaud de la Guardia continues to draw stellar praise from the market for his outstanding practice in the Panamanian capital markets arena. Clients also benefit from his market-leading position in the banking and finance arena.
Arturo Gerbaud de la Guardia is a highly committed lawyer with legal knowledge that is unmatched in banking and securities.
Capital Markets respondentLatin America
Band 3 
Band 3 
Rafael Marquinez
Partner Rafael Marquinez continues to draw significant praise from clients for his activity in the Panamanian capital markets space.
Rafael Marquinez shows a great deal of attention to detail, availability and response times. He fulfils his promises and is attentive.
Capital Markets respondentLatin America
Ranked Individuals at Alemán, Cordero, Galindo & Lee (2)
Members
Provided by Alemán, Cordero, Galindo & Lee

Rafael Amar

Eloy Alfaro Boyd

Carlos Cordero

Mario Vlieg

Patricia Cordero


Rafael Marquinez
View profile of Rafael Marquinez
What success is built on
Chambers is the leading data and intelligence partner for the legal sector.