Succession issues plague Italian indies as marquee Bonelli team quits for Latham
A highly-regarded five-partner team last week quit Slaughter and May's Italian ally, Bonelli Erede Pappalardo, to join Latham & Watkins, marking the latest team departure at a leading independent Italian law firm.
November 28, 2007 at 09:09 PM
3 minute read
A highly-regarded five-partner team last week quit Slaughter and May's Italian ally, Bonelli Erede Pappalardo, to join Latham & Watkins, marking the latest team departure at a leading independent Italian law firm.
The move, reported on 22 November by legalweek.com, will see the team join Latham & Watkins' Italian arm, providing the US firm with its first local law capability in the region as well as a presence in Rome.
Bonelli partners Andrea Novarese, Maria Cristina Storchi, Fabio Coppola, Tommaso Amirante and Simone Monesi all join the top 10 US firm as partners. Four of the new team will join Latham's Milan office, bringing in local M&A, private equity, equity and debt capital markets and banking capabilities. Amirante will be based in Rome – the firm's first office in the city.
Latham Italian practice head Michael Immordino said: "Something we have always looked at launching is a local law capability and we thought the time was right after managing to secure such a talented team."
For Latham, the move represents a second European venture this year after it made its long-awaited Spanish debut at the beginning of 2007 with the hire of corporate partner Jose Luis Blanco Ruiz from local firm
Cuatrecasas.
The Bonelli move is also the latest in a string of high-profile departures from Italian firms, which are faced with succession issues and strategy disputes. Some firms have altered their remuneration structure and introduced larger management committees in an attempt to appease younger partners.
However, last month it emerged that around 90 lawyers, including the executive committee of Gianni Origoni Grippo & Partners, would be leaving to set up their own firm, after disagreements with founding partner Francesco Gianni and other older partners at the firm over its strategy.
Lovells Rome-based private equity partner Leah Dunlop said: "This adds to a number of recent departures from independent firms in the Italian legal market. It will make the competition for high-value deals even more fierce and could really open up the market."
Last year, around 25 lawyers, including four partners, also left Gianni to form a standalone venture, citing irreconcilable strategic disagreements. The new Rome-based firm now practises under the banner Labruna Mazziotti Segni.
Name partner Fabio Labruna said: "It is just a matter of time with second-generation lawyers getting to an age when they can decide to take a different professional route."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllLeaders at Top French Firms Anticipate Strong M&A Market in 2025 Despite Uncertainty
6 minute readEU Parliament Gives Blessing to New EU Competition Chief Ribera Rodríguez
2 minute readSimpson Thacher Becomes Second Firm to Launch in Luxembourg in 2 Days With A&O Shearman Hires
3 minute readHSF Hires Trio for Luxembourg Launch, Builds Private Capital Practice
Trending Stories
- 1'Largest Retail Data Breach in History'? Hot Topic and Affiliated Brands Sued for Alleged Failure to Prevent Data Breach Linked to Snowflake Software
- 2Former President of New York State Bar, and the New York Bar Foundation, Dies As He Entered 70th Year as Attorney
- 3Legal Advocates in Uproar Upon Release of Footage Showing CO's Beat Black Inmate Before His Death
- 4Longtime Baker & Hostetler Partner, Former White House Counsel David Rivkin Dies at 68
- 5Court System Seeks Public Comment on E-Filing for Annual Report
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250