Partners Tobia Croff and Fabio Fauceglia and a team of four associates will move to the new Milan office to expand the US firm’s Italian practice.
Shearman Rome-based head of corporate Michael Bosco said: “You need to have both Milan and Rome to have a credible Italian practice. Since launching in Rome we’d been able to serve both cities from that office, but it’s become more important [to have another office] since we’ve been practicing local law.”
Shearman launched in Rome in 2002 after the firm advised on a number of Italian entity privatisations during the 1990s. The firm advised oil and gas company Eni on its privatisation and listing on the New York Stock Exchange.
Shearman European managing partner Creighton Condon (pictured) said: “A lot’s changed since then and we need to make sure we’re close to our financial institution clients in Milan as well.”
The US firm has developed close ties with a number of key financial institutions in Milan in recent years. In March Bosco and Croff led a team advising UniCredit on a $15bn (£9.16bn) loan programme.