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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
A stark admission indeed from A&O that the recent departures of two dual-qualified, high-level banking partners in Italy really stunted its capability to execute leveraged buyouts in the Italian market.
London-based (normally, at least) banking partner Fiona FitzGerald has been parachuted in to caretake the transactional side of the Italian banking practice until a replacement for ex-head of banking Giancarlo Castorino can be found. Italy managing partner Massimiliano Danusso, who is a capital markets rather than banking expert, had been trying to juggle the role up until now.
FitzGerald knows the Milan market well - she worked there for four years - and by A&O's account was going there anyway to complete two Italian-based deals.
A&O is "considering all options", including not replacing Castorino at all, and won't comment on whom it has approached; although other UK-headquartered firms with offices in Italy are understood to be targets. This would circumvent the age-old problem of matching senior-level partners' salaries at the Italian champions, such as Gianni Origoni Grippo & Partners, Chiomenti Studio Legale and Bonelli Erede Pappalardo.