Paul Hastings To Shutter Milan Office
This follows a team of six leaving for Herbert Smith Freehills earlier this year.
October 28, 2019 at 07:09 AM
2 minute read
Paul Hastings is closing its Milan office following the departure of two partners, including its office head.
The firm's chair Seth Zachary confirmed the shuttering via a statement.
"We constantly assess the fit of our practices in all the markets in which we operate, in the light of the firm's financial and strategic goals," he said. "Looking forward, we believe that our clients will be best served in this region working collaboratively with the leading independent firms in the market."
The decision comes following further departures from the base. Office head Bruno Cova has left the firm, alongside litigation partner Francesca Petronio.
Cova joined Paul Hastings in 2005, having previously worked as chief legal adviser at Parmalat SpA. Petronio has also been at the firm since 2005, joining after four years as senior associate at Norton Rose Fulbright.
Commenting on the exit of the partners, Zachary said: "We would like to express our gratitude for the contribution of Bruno and Francesca to our Milan office and to our firm's service of our clients in Italy."
The most recent departures follow a team exit from the base earlier this year, including two partners and four associates. That group joined Herbert Smith Freehills.
In recent years, Italy has proved an uncertain market for a number of firms, with several closing bases across the country.
However, some firms have expanded their Milan offerings.
Dentons recently launched its Europe-South Korea practice with the hire of Soon-Youn Kim as partner to head up the desk. Linklaters also recently hired Roberto Egori as a partner and head of the firm's tax practice from Freshfields Bruckhaus Deringer in Milan.
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