Deloittes to merge with Andersen Legal Italy

The Italian practice of the now defunct Andersen Legal is finalising plans to merge with Deloitte & Touche.
The plan breaks with Deloittes' policy not to have its own legal capability. In the UK, Andersen Legal was left out in the cold when the accounting and consultancy arms of Andersen UK secured their life-saving deals with Deloittes. In Australia, Deloittes' chief executive stated publicly that he would prefer to ditch Andersen's legal arm before deciding to pull out of merger talks altogether.
To date, Deloittes' only other legal deal to stem from the Andersen collapse is a link-up with Garrigues for tax issues. But the former Spanish Andersen Legal member will remain independent.
In Italy, Andersen's legal services will be incorporated in a deal with Deloittes, which also includes auditing, business consultancy, tax and corporate finance services.
The deal, which will give Deloittes a total of 2,200 employees in Italy, is awaiting approval from the Italian Securities & Exchange Commission and from the Italian antitrust authority.
Andersen Legal's Studio di Consulenza Legale e Tributaria, has 338 professionals in Italy, comprising 217 in tax and 121 in legal services. Once integrated into Deloittes, its legal services will cover corporate, employment, intellectual property and IT, banking and finance, competition and real estate.
A spokesperson for Andersen Italy said that some partners might still pursue careers outside of the deal, but the bulk of its lawyers in Milan, Rome, Padua, Genoa, Treviso and Turin are expected to join Deloittes.
The Andersen Legal practice grew rapidly after it was founded in 1981 and was still hiring after the Enron scandal broke – banking and finance specialist Vittorio Valieri and corporate lawyer Sante Ricci were hired as partners in Rome. Clients included Ferrari, Telefonica and Italgas.