To celebrate StoneTurn’s 20th Anniversary, we’re spotlighting our people. Meet Carlos Flávio Lopes Managing Director in São Paulo.

In this Q&A, Carlos shares how our cross-border team best collaborates to meet clients’ evolving needs, and why the firm’s investment in its people is a clear differentiator in the market. Carlos also discusses changes in the Latin American market, and how clients have shifted their risk appetite and proactive mitigation practices over time.

Culture 

What does collaboration mean to you?​

We are very proud at StoneTurn of our collaborative culture. To me, it means that we really believe that “we are all in this together.” I know that I can count on my colleagues when I need assistance, whether they are in the office next door, or in Singapore or New York. This comes across to clients as well. I truly believe clients feel more comfortable working with a firm like ours, in which our team helps and supports each other with the objective of delivering the best possible outcome to our clients.

Business 

How does the firm ensure our offices around the globe stay connected?

Even though I am based in Brazil and most of my colleagues are all on different continents, I feel like I am part of a tight-knit team and that we may as well be sitting right next to each other. Strong and meaningful communication is key to making this work, so we are always in touch with other, seeking advice or just keeping each other informed on what is going on in our markets and with our projects. Our global investigations team meets every week to discuss ongoing work and new opportunities. StoneTurn also promotes regular in-person meetings for all of its staff. Meeting and spending time with your colleagues in person is the best way to get to know them. It really brings us closer together. In my two years at StoneTurn, I have met in person with my colleagues from around the world several times already, and this has made a huge difference to how well we work together.

What has been the biggest shift in working on cases in Latin America over the course of your career?

I started my career working only on due diligence matters for clients interested in investing in Latin America. Over time, I started working on more complex cases like fraud investigations and multijurisdictional asset searches. Having worked in this field in Latin America for 14 years now, I have seen our clients become more sophisticated. Ten years ago, we would frequently have to educate clients on how internal investigations should be conducted, the importance of implementing the proper controls against fraud and corruption, and the limits of what can and should be done in a pre-investment due diligence assessment. Nowadays, clients are much more aware of the risks they face in their business and actively seek trusted advisors to help them address those risks. I have also observed changes in our client base. When I started off, most of the clients interested in risk consulting were multinationals or large foreign companies with interests in Latin America. More recently, local companies represent a significant portion, if not the majority, of our clients.

When it comes to business intelligence and investigations, what are the top trends you’re advising clients on?

Our business is cyclical, in the sense that the kinds of services that we offer the most change according to the mood of the markets. In times when the market is strong, we tend to conduct a lot of pre-investment due diligence for businesses and private equity firms. When the markets are negative, clients more frequently come to us looking for assistance with tracing and recovering assets hidden by debtors and fraudsters. Recently, though, we have seen a huge increase in cases that we call litigation support. We have been working with clients and their attorneys to help them gather evidence for disputes, understand the opposing parties’ strategies, and better prepare themselves for litigation and arbitration. This kind of work requires strategic thinking and building a relationship of trust with our clients. Our firm is well-suited for this, not only because of our global presence, but also because of the level of involvement of our senior staff in our projects.

Predictions for the Future 

Where do you hope to see the consulting industry in 5 years?​

I see us as problem-solvers and advisors for our clients. In 5 years, I expect that we will increasingly see problems that demand solutions involving technology. AI and data analytics are already a part of our daily life as consultants, whether we are working on investigations or analyzing the risks associated with potential business opportunities for our clients. Regarding the industry itself, I hope to see more consultants and firms adopting a people-first culture like we have at StoneTurn.

Reach out to Carlos Flávio Lopes if you would like to discuss any of the topics above.