“Times of economic crisis tend to allow the best firms to flourish,” proclaims Bonelli Erede Pappalardo’s senior partner Alberto Saravalle; the past two years have been good for the firm, reportedly the most profitable in Italy last year.
While the familiar Anglo-Saxon names have established themselves at the top of the market, the second wave of UK and US firms have not been as successful – the lean economy and lull in capital markets have exposed a weakness in their practices as well as a reluctance or inability to diversify.
