Linklaters is set to move to larger offices in Milan – a sign the firm is about to embark on an aggressive recruitment strategy in Italy.
The magic circle firms signed a lease with property developers Tishman Speyer to rent a space 2,600 m sq in the five-storey building on via Santa Margherita.
It is understood that the rental agreement means that Linklaters will be pay an annual rent of between €1.2m and €1.4m – the equivalent of €450 to €550 per m sq.
The space, which is in offices which also houses Credit Suisse First Boston, has the capacity to hold up to 80 staff.
The news follows Linklaters’ captures of Allen & Overy’s Italian head of banking and finance Davide Mencacci along with two partners from Italian boutique Pedersoli.
The firm’s cherry-picked star partners following the collapse of its alliance with Gianni Origoni & Grippo in April 2004, which left Linklaters’ presence in Italy in tatters consisting only of finance partners Sarosh Mewawalla and Luigi Sensi. Following its hires Linklaters will have five partners in Italy with plans for more.