White & Case closes Milan office
Following a review of their Italian market, White & Case has decided to close its Milan office after failing to find a suitable merger with an Italian firm. The 15-lawyer office will close at the end of November and Sean Geary, managing partner for Italy, will relocate to New York.
The closing, three years after the closing of the Rome office, precedes the firm's implementation of management strategies suggested by consulting firm McKinsey & Co. Sources close to the firm say that the level of investment required to bring in a big-name Italian rainmaker to was too great.
Wragge & Co. Drops in Growth at the half-year stage
Having gained revenues of approximately £56m, major UK law firm Wragge & Co. is projecting a six-percent drop in growth at the half-year stage.
The worst hit practice group is real estate, which accounts for 31% of the firm's profit. Revenues for that practice group are expected to fall by five and 10%. Public infrastructure work and project finance work is expected boost growth by 5 to 10% , while litigation is expected to experience single-digit groth.
Wachtell, Lipton, Rosen & Katz
In conjunction with the US Election, Wachtell, Lipton, Rosen & Katz, a financially successful and reputable US firm, chose six new partners. The addition of half a dozen partners—a robust number—indicates that things are going well at the firm.