Marco De Leo has been at Italian law firm BonelliErede his entire career, joining on the day he graduated in 2004, rising through the ranks in Milan to make managing partner in Dubai in 2020.
In the years since he assumed leadership he has grown the legal team fivefold, and in the past year, the office generated 70% of its mandates locally.
I caught up with him to hear about his ambitions for the Dubai office, which is also the firm’s hub for work in the wider Middle East, and his aim to be the ‘firm to go’ in the region.
Aishah Hussain: You’re a BonelliErede-lifer, having joined the firm on the day you graduated in 2004, rising through the ranks in Milan to make managing partner in Dubai. What’s kept you at the firm for nearly 20 years?
Marco De Leo: BonelliErede has been my second family for nearly 20 years. I have spent more time in the offices of BonelliErede than in any other place, and there has been no one single day that I have regretted spending a significant part of my life at the firm.
The reasons for remaining with the firm for such a long time are several, but above all what I have always appreciated are the people at BonelliErede. Every day I am extremely happy to meet with my partners, the associates, and the staff as we are a very big family!
AH: As a corporate lawyer, you focus on the luxury sector in a city renowned for high-end goods and finery. What are some of the trends you are seeing in this space?
MDL: Dubai has become a strategic hub for retail and luxury business. In the last three years there has been a significant focus of the brands to Dubai and the Middle East in general and we have been involved in the main M&A transactions in the industry.
The main trend that we have been experiencing is for the brands to move to joint venture structures (from franchising and distribution schemes) as by doing so they can control more of their strategic business in the region. Accordingly, the brands have started to become more structured in Dubai, including by moving senior people to the region.
AH: Can you share with readers your most interesting deal to date?
MDL: One of the most interesting deals we have recently (2023-24) followed in the region was assisting Stadler Rail AG in signing contracts with Saudi Arabia Railways (SAR) for the supply and the maintenance of 10+10 Next Generation Passenger Trains for operation on the growing railway network in the Kingdom of Saudi Arabia.
KSA is a vital market for the transportation sector, and we are proud of our role in helping Stadler support Saudi Arabia to achieve its initiatives in accordance with Saudi Vision 2030.
AH: The Dubai office launched in 2017 and has since grown to a team of 15 fee earners. What are your main drivers of work in the Dubai office, and are these largely driven from the Italian practice or local referrals?
MDL: The Dubai office has grown significantly both in terms of resident lawyers (from three to 15) and number and type of transactions in which the team has been involved.
We have capabilities within the office of both civil law (UAE and Italian law) and common law (English and US law) and this allows us to advise clients on basically all of their needs in the region.
We focus on corporate M&A, international arbitration, international taxation, and project finance and energy.
In terms of mandates, the Dubai office in 2023 generated locally 70% of its mandates showcasing how strong the brand is now in the region.
AH: The Dubai office is also the firm’s hub for work in the wider Middle East—what are your main drivers of work across the GCC, and do you often find yourself handling cross-border matters?
MDL: The Dubai office is our hub for the GCC and through which we serve all of our clients in the region. We regularly assist clients on cross-border transactions, involving all GCC countries as well as transactions involving EU/US and GCC countries.
AH: What are your plans for the office in the next three years, by 2027, which also marks ten years of your operation in Dubai?
MDL: The firm has a big and very ambitious plan for the Dubai office in the next three years, as part of our global strategic plan.
We are planning to significantly increase the team on the ground and our capabilities by adding those which we believe will be strategic in the next years, with the aim of becoming the ‘firm to go’ for all legal needs of local and international clients in the GCC.
AH: Is expansion to other GCC countries on the cards? We’ve seen a wave of law firms open an office in Riyadh, for example.
MDL: As part of our ambitious project for the Dubai office, there will certainly be a significant focus to KSA considering the importance of such a market and the opportunities offered by Saudi’s Vision 2030.
AH: Finally, what advice would you give to a lawyer unsure about making the move to the Middle East?
MDL: The Middle East will be very active in the next five years for sure and all of the international firms are increasing their capabilities on the ground or moving to the Middle East pushed by the opportunities that are, and will be, available for law firms.
The Middle East will be an extremely vibrant place for lawyers in the next years, offering significant opportunities in terms of career path. It is also a place where it is extremely pleasant to live, combining career opportunities and great quality of life. I would have no doubts making the move to the Middle East!
