29 May 2019

Italian merger creates largest independent firm

BonelliErede and Lombardi e Associati merger gets the green light, though there has been some fallout as lawyers leave for other firms.

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The merger with Lombardi e Associati has been unanimously approved by BonelliErede’s partners. Milan-headquartered BonelliErede works with Slaughter and May in Italy as part of the international firm’s global approach.

“New adventure”

Lombardi e Associati is one of the leading Italian independent law firms in litigation and corporate law and advises Italian and foreign companies, banks and insurers, investment funds and institutions, and private clients. As of 1 July 2019, about 70 professionals will join BonelliErede, including litigation partners Giuseppe Lombardi, Renato Bocca, Filippo Rossi and Lazare Vittone; corporate partners Niccolò Baccetti, Johannes Karner, Stefano Nanni Costa and Federico Vermicelli; banking partner Mara Fittipaldi and administrative law partner Mauro Pisapia. PierDanilo Beltrami, Adriana Cavigioli, Lotario Dittrich and Manuela Soligo will join the firm as of counsel. Giuseppe Lombardi will work alongside Vittorio Allavena as joint coordinator of the Litigation Department of BonelliErede. Stefano Nanni Costa will join the board, bringing the number of board members to eight. Stefano Simontacchi, president of BonelliErede, said “This integration propels us on to a great new adventure.” The deal brings the number of people at BonelliErede to over 750 across Europe, Africa and the Middle East, and will have annual revenue upwards of of €190 million.

Fallout

Mr. Simontacchi explained, “With the integration of Lombardi e Associati, we confirm our position as the market leader in Italy and, furthermore, we add recognised expertise and long-standing experience in law. We are united in our will and determination to continue pursuing the strategic objectives we have set out for ourselves, and we will continue to increase investing particularly in international development and innovation. The driving force that guided everyone who made this possible was, as ever, our purpose.” Giuseppe Lombardi, president of Lombardi e Associati, commented “We are pleased with the result reached together and proud to become part of BonelliErede, which has always been at the forefront and actor of the evolution of the legal profession in Italy, especially in terms of international development and innovation. Together we will grow a new generation of excellent professionals. This move allows us to be part of a firm that has become an institution in Italy.” However, there have been fallouts. Earlier this month a team of 15 lawyers quit Lombardi e Associati for their former firm Gianni Origoni Grippo Cappelli & Partners. Private equity specialist Gattai Minoli Agostinelli & Partners also announced the hire of a team of eight lawyers from Lombardi.

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