Iberdrola: the large in-house law firm
The secretary general and secretary of the board of directors of Europe’s largest electricity company by market value, Santiago Martínez Garrido, analyses the legal transformation of the group, the strategic role of law in global electrification and the challenges that will shape the future of corporate governance
by julia gil
Santiago Martínez Garrido, state attorney and secretary general and of the Board of Directors of Iberdrola, has spent more than two decades at the legal heart of one of the world’s largest public service companies by market value. He joined the group in 2004 and has since accompanied the international growth of a company with a presence in Europe, the United States, Brazil, Mexico and Australia, which today leads the European energy sector in terms of market capitalisation. Before joining the private sector, he worked at the Ministry of Justice, where he held the position of Director General of the Ministry’s Office and, previously, Director of the Office of the Secretary of State for Justice.
With a team of more than 250 lawyers spread across several jurisdictions and a structure that functions as a large global law firm specialising in energy, Martínez Garrido has driven legal transformation supported by digitalisation and innovation. The Darwin project and the Legal Hub have made Iberdrola an international benchmark in driving digital transformation, which is why the Financial Times has recognised him this year as one of the 20 most innovative general counsels in the world.
In this conversation with Iberian Lawyer, Martínez Garrido details how one of the largest legal departments in the sector is organised, what profiles they look for in an environment marked by digitalisation, how the role of the general secretary in strategic decision-making has evolved, and what legal and governance challenges he anticipates for an industry immersed in global electrification.
How is the general secretariat structured?
The area comprises legal services, tax and security. The legal team, with more than 250 lawyers worldwide, is multidisciplinary and includes economists, data analysts, administrators, paralegals, cybersecurity and data experts, technologists, IT specialists and engineers. We are like a large law firm, perhaps the largest in the world in the energy sector. The structure is adapted to the organisation of the company: the legal team is organised according to the sub-holdings we have around the world, with a head of legal services in each of them. This structure allows us to adapt to the company’s global presence and its strategic plan with local teams in the main countries where we operate. At the central level, we have the departments of legal services for business, corporation and governance, and legal planning and operations.
And what is your day-to-day work like?
It involves working closely with the company’s business and corporate areas to prevent and manage legal risks in an increasingly complex international environment. Our job is to provide legal support to the business, coordinate legal matters and define and implement governance. Our professionals specialise in almost all areas of law, with a significant focus on soft law: corporate law, governance and sustainability, financial law, regulatory law, litigation and arbitration, mergers and acquisitions, regulatory compliance, civil law, commercial law, foundation law, contract law, cybersecurity and data protection, etc.
What professional profile are you looking for in lawyers joining the group today?
The legal department is made up of a team of lawyers and tax specialists of different ages, experience and professional profiles, but with essential common traits: technical expertise, principles and values aligned with the company, an international profile and cutting-edge use of digital tools and artificial intelligence.
What goals has the legal department set for the coming years?
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