Italy’s legal sector underwent a remarkable transformation in early 2024 with a series of headline-grabbing hires and the revitalization of an economy now considered one of the most undervalued markets for investors in Europe.

In addition to Orrick losing a 15-strong team to Italian dynamo BonelliErede and a 23-strong M&A team to Hogan Lovells, the demise of Studio Legale Associato Shearman & Sterling resulted in M&A partner Domenico Fanuele joining White & Case and Fabio Fauceglia bringing his team of five associates to Orrick’s Milan M&A and private equity group.