Clifford Chance (CC) is set to see its Italian practice downsize further with the depature of three capital markets partners later this week (30 April).

Former Italian structured finance head Paolo Calderaro and fellow capital markets partners Michele Crisostomo and Silvio Riolo are all leaving CC to set up boutique firm Riolo Calderaro Crisostomo. So far it has been confirmed that one senior associate will join the partners in the new venture.