‘Independent thinker’ Greenberg Traurig picks Milan as latest step of unusual European footprint

‘Independent thinker’ Greenberg Traurig picks Milan as latest step of unusual European footprint

Greenberg Traurig’s executive chair Richard Rosenbaum has pointed to his firm’s track record for independent thinking as it enters Italy through a merger in Milan.

In July, the northern Italian city will become the location of the Miami-bred firm’s 40th office, after Greenberg absorbs its local ally of 14 years, Santa Maria Studio Legale. Two Freshfields Bruckhaus Deringer veterans will also join the firm’s first Italian base: local real estate head Marzio Longo and finance partner Corrado Angelelli, giving it a starting team of around 50 lawyers. Continue reading “‘Independent thinker’ Greenberg Traurig picks Milan as latest step of unusual European footprint”

The Euro Elite: Italy – And yet it moves

The Euro Elite: Italy – And yet it moves

Looking out of the window of his office overlooking the picturesque Piazza del Duomo on a rainy April afternoon, one veteran Milan partner is feeling sentimental: ‘I remember the firms that used to dominate the market back when I started – Graziadei, Carnelutti, Pavia Ansaldo. No-one hears of them anymore.’ What on the surface seems nostalgic reflection poses a pressing question for Italy’s current legal elite: what will become of today’s top independents in the near future?

‘It is as if the market gets tired of dominating firms every ten years or so and replaces them with others,’ agrees a partner in another office in the northern Italian city. Continue reading “The Euro Elite: Italy – And yet it moves”

The generation game – Linklaters makes Italian corporate play with veteran rainmaker Casati

The generation game – Linklaters makes Italian corporate play with veteran rainmaker Casati

It is well known that Italian law firms owe much of their fortunes to a small group of veteran rainmakers when it comes to M&A work. In a market still dominated by elder statesmen and their decades-long connections with the country’s top corporates, 69-year-old Roberto Casati leaving Cleary Gottlieb Steen & Hamilton to join Linklaters is one of the most significant lateral moves in the country for years.

In a bid by the international giant to expand beyond its finance and capital markets focus into mainstream corporate, Linklaters drafted a waiver to its partnership terms to allow Casati to join the firm at the top of its equity ladder, a deal worth around £2m annually. Continue reading “The generation game – Linklaters makes Italian corporate play with veteran rainmaker Casati”

Market report: Italy – Bravissimo

Market report: Italy – Bravissimo

Despite a testing political backdrop to business, the Italian elite is still outperforming the domestic economy

‘Reforms are the major challenge for Italy. For many years, we didn’t have the political strength – Renzi had it,’ says Carlo Croff, senior partner at Chiomenti. Matteo Renzi was Italy’s prime minister until December 2016 when his constitutional reforms were rejected in a referendum. ‘Clients, particularly those with investments in Italy, have been disappointed,’ Croff observes.

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Ashurst retreats in Europe, closing Stockholm and Rome

Ashurst retreats in Europe, closing Stockholm and Rome

Ashurst closed the doors to two of its European offices in June, confirming it will dissolve its Swedish offering with the entire team of 30 staff in its Stockholm office moving to Hamilton.

The firm will also close its base in Rome with its remaining lawyers relocating to Milan following a review of its Italian offering after a string of exits. The fate of the office was sealed following the resignation of the Rome office’s sole partner Aian Abbas.

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Euro elite: focus Italy – La dolce vita?

Euro elite: focus Italy – La dolce vita?

A new generation is revitalising the performance of a trio of Italian leaders committed to remaining steadfastly independent

It’s been a hard decade for Italy, not least for its law firms: the product of a flat economy and relatively few deals. Even before the crisis, the economy had the lowest sustained growth of any OECD country. But there has been a recent renaissance, of sorts, with GDP optimistically predicted to rise by 1.6% in 2016, while concluded deals totalled €50bn in each of the last two years, according to KPMG.

Continue reading “Euro elite: focus Italy – La dolce vita?”