Charles Russell Speechlys has opened an office in Milan targeting ultra-high-net-worth individuals (UHNWI). 

The London-based firm has hired two lawyers from Italian tax boutique Maisto e Associati to staff the new office, its first in Italy. Cristiana Felisi, previously of counsel at Maisto e Associati, has joined as a partner and head of the Milan office, while Giovanni Angelini has also joined from Maisto e Associati as counsel.

“Italy is a vitally important location for us due to the significant relocation of foreign UHNWIs to Italy and the presence of wealthy Italian families with an international dimension,” said Nicola Saccardo, a partner in Charles Russell Speechly’s private client team in London and head of the firm’s Italian practice. 

Saccardo added that the firm’s Italian practice had “grown substantially in a very short space of time”, and that launching an office there was “the logical next step in order for us to best serve the needs of a fast-growing client base”.

Saccardo will continue as head of the Italian practice and have overarching responsibility, the firm said. An expert in Italian tax law, she specialises in the taxation of trusts, estates and UHNWIs, as well as the relocation of UHNWIs and estate planning. Meantime Felisi and Angelini are expert non-tax private client lawyers, focusing on succession law, family law, private wealth disputes and residential property transactions work.

The Milan office will be Charles Russell Speechlys’ fifth in Europe after its bases in London, Paris, Luxembourg, Geneva and Zurich. The firm also has multidisciplinary teams focused on Germany, Spain and the Nordics as well as Italy, according to its website.

Managing partner Simon Ridpath said in a statement: “The decision to open an office to provide Italian civil law capability reflects our strategic focus and dedication to serving our clients in the private capital space more effectively and in locations in which they need our support.”