LMV Advisors, A full-service
Ten years ago a group of young lawyers combined their knowledge to set up LMV a consulting made up of a team of professionals offering a full service by including legal consultancy, corporate, fiscal and financial governability.
In charge of this ship are four professional leaders, each for every area, supported by an interdisciplinary group of lawyers and administrative staff:
Alfonso Lomba – Founding partner
Arturo Morales del Rosario – Founding partner
Omar Victoria Contreras – Founding partner
César Joel Rodríguez - Partner
On the occasion of the opening of a new office in Bávaro Punta Cana, we have talked with Omar Victoria, founding partner and after covering his professional career we wanted to know at first hand all the services offered by LMV, because we lack full service in this area.
Do you begin in legal profession by vocation?
I think so, what attracted me the most of the legal world is that the provision of these services requires a broad and comprehensive understanding of relevant social cultural, economic and political issues, while requiring a very demanding management and technical knowledge.
Did you know the field?
Not really. Once graduate of the degree I started my work as a professional in the Dominican Republic Central Bank, feeling deeper a passion for financial and economic regulation. Later I had the opportunity to study a master’s in Financial Markets Regulation at the University of Comillas (ICADE) (Madrid - Spain).
How was your experience at the University of Comillas (ICADE)?
Excellent! The benefits are twofold, first we learned about regulation, trends and new approaches to different perspectives and international jurisdictions and then we did some great relations that allowed getting deeper in academic and professional aspects.
How all this academic process has been reflected on your experience in the Dominican Republic?
First of all, it has allowed me to have a more global view of everything related to market regulation. I am currently the coordinator of Master in Law and Economics of the Pontifical Catholic University Mother and Teacher, (PUCMM), which as the main studies house of our country has allowed us to share knowledge and experiences.
Do you currently continue to have contact with your Spanish colleagues?
Yes, I do. It is very important to keep contact in a changing and globalized world. The law was more static before but fi nancial markets are moving extremely fast at the corporate and business level. In fact, recent crisis have brought back the debate on the traditional course on the present regulation behind markets development.
What do you think about world crisis?
In general the causes of economic crisis are analyzed from different probabilities. We know there is a whole theory that they have a cyclical component; and I understand that it really has a connection to human behavior in every situation. In times of “boom years” regulations tend to be more lax allowing sometimes to take more risk and if regulation didn’t anticipate when the “lean years” come, it can create structural problems that encourage the fragility of the economic system and thus scenarios of fi nancial and business stress and therefore, social.
How can you explain that the regulation did not anticipate?
The State develops regulatory policies and design or influence based on certain principles in the running of economy and therefore, the markets. The regulation concept is not limited to regulate but to seek a balance. Since the days of Adam Smith we spoke of the “invisible hand” which states that the markets have a natural tendency to seek balance, but over time it has been recognized that certain balances are needed in economies to avoid imbalances in these systems. Whether this occurs regulatory policy is the solution to achieve balance.
Do you think the crisis is left behind?
The crisis is a concept or a subjective status, but I think it is clear that the worst of this process triggered since 2008 has ended and the markets are now looking for the way to take advantage of the growth and stability. Perhaps we are still in the tunnel but some light can be seen. In the case of the Dominican Republic which has not been involved directly in the international crisis, effects have been indirect mainly but very significant. However, our perception is that we are breathing the improvement of global economies and the coming years will be positive. By giving an example, real estate sector in the Eastern part of the country is reviving as well as tourist investment and tourism in general.
LMV IN BÁVARO PUNTA CANA
A new office of LMV firm in Bávaro has recently opened, what did you decide this?
We firmly believe that this area is a key point for investment, not only for the real estate and tourism industry but also for a lot of activities that are taking place there. We believe that Dominican Republic has a privileged position, its situation should be a “hub” for shipping, transport, trade, tourism ...
The hotel, real estate, industry sector continues growing and we decided to establish a branch there due to all of this and confidence in those processes. The eastern area is a bastion of national development.
What service will LMV provide?
We offer the same service that the offi ce of Santo Domingo: business, corporate, financial, fiscal and legal consulting including disputes in general, a department created three years ago, a full service. There will be a team of lawyers and the constant physical presence of partners of the firm. Personal contact with customers is a priority for us.
What does the full service involve?
When you make, for example, an analysis of a project, a purchase, sale, merger or acquisition, we always look at the issue from a holistic perspective. We examine fi scal, fi nancial and legal aspects and everything is done from the offi ce itself giving a full service
What is your target customer?
Actually we serve both individuals and companies in any capacity and anywhere.
What do think about the future of the country in the medium term?
We must concentrate on developing certain economic policies to progress. The Dominican Republic is in the middle of an extremely competitive market and a constant task is to improve our investment climate, legal certainty and institutional development. All this will make the investment to flow in much greater dynamism and safety.