Latin American Executives: The Talent Spain Needs As The Region’s Growing Importance
Three in ten large Spanish companies believe that within the next three years Latin America will account for a greater share of their business than Spain itself. This is one of the key findings of the seventeenth edition of the Report on Spanish Investment in Latin America, published by IE University. According to the report, 63% of the companies surveyed plan to increase their investment in the region, while 64% expect their revenues there to grow over the next three years
An opportunity that many companies still overlook
Skilled professionals from countries such as Mexico, Chile and Colombia are among the region’s greatest attractions for investors, alongside the size of domestic markets such as Brazil and Mexico. Over the past decade, Latin American economies have become increasingly integrated into global trade and investment, and their companies have expanded accordingly. The Global LATAM 2025 report, published by ICEX Invest in Spain together with the Ibero-American General Secretariat, estimates the accumulated investment of Latin American companies in Spain at €66.844 billion, representing a 103% increase since 2010. It already includes major multilatinas such as Tenaris, Orbia, Nemak, Bimbo and Cemex.
The Elcano Royal Institute reports that many highly qualified Latin American professionals who arrive in Spain end up working below their true level of expertise, held back by the slow recognition of foreign qualifications and by a labour market that continues to generate mostly low-skilled private-sector jobs. Identifying these executives within specific organisations and bringing them onto leadership teams in Spain requires a proactive executive search approach rather than relying on the general labour market.
Three pathways to Spain
This kind of hiring already runs along three well-worn paths. The oldest is the multinational transfer. Audit and consulting firms such as PwC, Deloitte, KPMG and EY move partners and managers from Mexico City, Buenos Aires, Caracas, Bogotá or Santiago de Chile to Madrid, using the same logic they apply between London and New York.
Large Spanish groups with a footprint in Latin America run the path in reverse. Telefónica, Naturgy, Iberdrola, Repsol, Banco Santander, BBVA and Ferrovial bring talent into their corporate headquarters, and that talent later goes back to the region in more senior roles.
The third path is direct hire: an executive who arrives on their own because the market needs exactly what they know how to do. That’s what happened between 2011 and 2018, when
engineers trained at PDVSA filled roles at Spanish engineering firms such as Intecsa, Técnicas Reunidas, Sener and Idom.
One language, one shared culture
A common language and shared cultural background accelerate all three routes more effectively than almost any other international talent corridor. A CEO recruiting in London or Frankfurt typically needs to allow several months for cultural and linguistic integration before an executive reaches full performance.
By contrast, executives from Bogotá, Mexico City, Buenos Aires or Lima already share the working language and many cultural references. In addition, they benefit from a shorter legal pathway to Spanish nationality, making integration significantly faster.
“At Alexander Hughes, we have long recognised this reality and shaped our strategy accordingly. We understand the market, and we are ready to support the companies that choose to move first by bringing this talent directly onto their executive leadership teams.”
Read the full article in Spanish
