White & Case quits Italy with Milan closure
White & Case is set to become one of the first major international law firms to pull out of the Italian market as it prepares to close its Milan office at the end of next month (30 November). The 15-lawyer Milan office is the US firm's only presence in the country as it closed its offices in Rome and Turin three years ago. The office's sole equity partner, Sean Geary, will relocate to New York while the five local partners and the remaining lawyers will leave White & Case. The firm said in a statement: "White & Case has periodically reviewed its position in the Italian market since opening there. It was concluded in the most recent of these reviews that the level of investment required to reach the position in Italy that the firm requires of its operations in any market was beyond that which is in the best interests of the firm as a whole."
October 23, 2008 at 01:04 AM
3 minute read
White & Case is set to become one of the first major international law firms to pull out of the Italian market as it prepares to close its Milan office at the end of next month (30 November).
The 15-lawyer Milan office is the US firm's only presence in the country as it closed its offices in Rome and Turin three years ago.
The office's sole equity partner, Sean Geary, will relocate to New York while the five local partners and the remaining lawyers will leave White & Case.
The firm said in a statement: "White & Case has periodically reviewed its position in the Italian market since opening there. It was concluded in the most recent of these reviews that the level of investment required to reach the position in Italy that the firm requires of its operations in any market was beyond that which is in the best interests of the firm as a whole."
"We will continue to work with our clients around the globe on transactions and matters relating to the Italian market, using all the resources available within our 2,400-strong team of lawyers to ensure that our clients continue to experience the same high level of service they have always received from White & Case. We will work with local Italian counsel as required, including, we hope, a number of lawyers who were part of our Italian operation."
White & Case entered Italy in 2001 after merging with local firm Varrenti & Associati, but closed in Rome in 2005 saying it was to focus its efforts on Milan. It only opened in Turin in 2004 through a tied up with legacy local practice Morano & Associati, however the eight-lawyer branch became independent boutique Basso & Associati at the end of 2005.
The Milan team moved to smaller offices in September last year.
Many international firms have struggled to build their presence in Italy but White & Case's decision makes it the first leading firm to pull out of the market altogether. The firm stressed that the decision was unrelated to the ongoing review of its worldwide business by management consultancy McKinsey.
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