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Legal market overview

Italy experienced the arrival of yet another new government during 2014, led by the country’s youngest ever prime minister, Matteo Renzi, who promised sweeping political, economic and labour law reforms. Such promise attracted the interest of international investors but Italy, nonetheless, dipped back into recession during the first two quarters of 2014 and, in September, the Organisation for Economic Co-operation and Development predicted that Italy’s GDP would grow by only 0.1% in 2015.

Unsurprisingly, the country’s restructuring lawyers remained busy with high-profile work, while Italy’s debt capital markets specialists tapped into a mini-bond boom, following reforms that allow Italian unlisted small and medium-sized enterprises (SMEs) to issue debt securities and bonds for trading on the professional segment of Italy’s stock exchange.

As always, Italy’s legal market was fluid. Among these changes, Latham & Watkins LLP endured the departure of a six-strong finance team – including former local banking and finance department chair Riccardo Agostinelli, Lorenzo Vernetti and Marco Leonardi – which moved to Gattai Minoli Agostinelli & Partners; Paolo Daviddi joined Grimaldi Studio Legale’s Milan office from Norton Rose Fulbright; and a team of five finance lawyers led by partner Giancarlo Castorino left d’Urso Gatti e Bianchi Studio Legale Associato to join King & Wood Mallesons.

Italy’s leading tax law firms also experienced change: Di Tanno e Associati lost Stefano Petrecca and Eugenio Romita to Macchi di Cellere Gangemi’s Rome and Milan offices, together with several associates; and ex-Maisto e Associati partner Paolo Ludovici founded Ludovici & Partners.

Meanwhile, NCTM Studio Legale Associato merged Studio Panetta & Associati into its Rome office, comprising equity partner Rocco Panetta and seven other professionals, including salary partners Giorgio Telarico and Domenico Rinaldi.

Firms in the spotlight

Toffoletto De Luca Tamajo e Soci

Toffoletto De Luca Tamajo e Soci is one of the largest specialist employment law firms in Italy. Its dedicated team operates from the firm’s offices in Milan, Naples, Rome, Bergamo and Brescia...

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