Arpine Abgaryan and Miguel Sánchez launch Scala, an independent legal boutique specializing in financial regulation, capital markets and investment.
Headquartered in Madrid, with a presence in Barcelona and an international focus, the firm offers regulatory and transactional advice to financial institutions, investment companies, and governing bodies. Scala was born from the union of two complementary careers. Arpine Abgaryan, with experience in financial regulation and banking law, has held senior management positions in an international financial group. Miguel Sánchez has developed his career advising listed companies and providing legal counsel for securities market transactions.
Both have been partners in law firms and have created and led specialized practice areas. This combination of experience allows SCALA to jointly address business needs, operational structure, and regulatory implications, providing a perspective that integrates external legal advice with direct business management knowledge.
Under the concept of “Back to basics,” Scala places the client and their business at the heart of legal advice. The firm’s model reflects this approach: a practice focused on its areas of expertise, professional judgment, and the direct involvement of the partners. Its structure fosters a close and ongoing relationship with clients, both in their day-to-day operations and in their strategic projects.
“Advising from the outside and experiencing the company from the inside, with the responsibility of making decisions, changes what you expect from a lawyer and how you advise,” noted Arpine Abgaryan, managing partner of Scala. For Miguel Sánchez, managing partner, “experience allows you to anticipate what might affect a transaction, how to structure it to bring it to fruition, and what it will mean for the business after closing.”
The firm advises banks and financial groups, investment services companies, collective investment managers and private equity firms, insurers, listed companies and other issuers, as well as investment funds and vehicles, shareholders and governing bodies.
Its main practice areas include financial regulation, authorization of entities, development of supervised activities, private banking, investment services, payment services, asset management. It also includes the cross-border provision of services and the acquisition and integration of regulated entities and businesses.
In capital markets, it intervenes in initial public offerings, public offerings and capital and debt issuances, and advises issuers on corporate restructuring operations and their information and transparency obligations, as well as on the prevention of market abuse.
Corporate governance, regulatory compliance, and the prevention of money laundering and terrorist financing complete their areas of expertise.
Scala’s international focus stems from the European dimension of financial regulation, the experience of its partners, and the cross-border activities of its clients. European Union law forms a core part of the legal framework within which the firm operates. Scala collaborates with specialized firms on matters requiring involvement in other jurisdictions and areas of law, while maintaining control and coordination of the advisory services.
The Founding Partners
Both have more than fifteen years of professional experience in specialized law.
Arpine Abgaryan has been a member of the Management Committee of an international financial group with operations in Andorra, Spain, Luxembourg, and Miami, where she led the Legal, Regulatory Compliance, and Anti-Money Laundering departments. Her experience includes bank mergers, liaising with supervisors in various jurisdictions, and serving as secretary and legal advisor to the boards of financial institutions.
Miguel Sánchez has developed his career in specialized firms and was a partner at an international firm, where he created and led the Equity Markets practice. He has led national and international equity and debt transactions, IPOs, and public offerings, coordinating the various stakeholders and maintaining communication with regulators and markets. His practice also includes ongoing advice to listed companies and their governing bodies.
