Gianluca Russo’s practice focuses on Italian and international tax matters.

He advises Italian and foreign clients on the domestic and international tax aspects of extraordinary corporate transactions, M&A and private equity transactions, as well as on the taxation of investment funds and financial products. 

He also regularly advises on compensation and benefits matters, advising companies and executives in the negotiation and preparation of employment contracts and management incentive plans, as well as on the tax implications of such contracts and incentive plans.

Gianluca also provides specialized advice to individuals, families and family offices in the planning and restructuring of family assets, the establishment of trusts and succession planning.

Gianluca joined the firm’s Rome office in 2004, and was resident in the New York office from 2006 to 2007.

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Notable Experience

Notable Experience:

  • Advisor to Giammaria Giuliani on the tax aspects of the take-private transaction of Rothschild & Co.

  • Advisor to PAI Partners on the tax aspects of the financing for its acquisition of Orion from Xenon Private Equity.

  • Advisor to Swiss Life Asset Managers on the Italian tax aspects of the acquisition of a controlling stake in Eliance, one of the leading European players in the air emergency services (AES) sector.

  • Advisor to Blue Pool Capital, a Hong Kong-based investment firm and family office, on the acquisition of a minority stake in Golden Goose.

  • Advisor to the Worldline group, a global leader in payment services, on the tax aspects of its long-term strategic partnership with Credem in the merchant acquiring business.

  • Advisor to the Worldline group, a global leader in payment services, on the tax aspects of its long-term strategic partnership with Credem in the merchant acquiring business.

  • Advisor to LVMH on its indirect investment in Moncler through the acquisition of a stake in Double R, an investment vehicle controlled by Ruffini Partecipazioni Holding.

  • Advisor to Oaktree on its disposal of Banca Progetto to Centerbridge.

  • Advisor to Global Infrastructure Partners on the tax aspects of the disposal of a participation in Italo - Nuovo Trasporto Viaggiatori to MSC.

  • Advisor to Allianz Capital Partners on the reinvestment in the high-speed rail operator Italo - Nuovo Trasporto Viaggiatori in connection with MSC’s acquisition of approximately 50% stake in Italo from Global Infrastructure Partners.

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Selected Activities

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Lecturer, Corso di Alta Formazione, Protezione, Trasmissione e Gestione dei Patrimoni Familiari, Università Cattolica, Milan.

Lecturer, Master in International Taxation, Milan Bar Association.

 

Publications

“Consulting Beyond Borders: Added Value in the Selection and Structure of Cross-Border Investments,” Innovation and Strategy in Family Office Investments, September 25, 2025.

“Family Office: A Winning Strategy Between Internal Resources and External Consultants,” WeWealth, July 16, 2025.

“The Current Tax Risk Environment and Best Practices for Managing It,” Cleary Gottlieb Selected Issues for Boards of Directors in 2025, January 16, 2025.

“Hot Tax Topics for Multinational Groups, in the US, the EU and Beyond,” Cleary Gottlieb Selected Issues for Boards of Directors in 2024, January 18, 2024.

“The Next Generations in the Family Business: The Role of Family Offices,” We Wealth (interview), October 6, 2022.

“Tax Breaks for Workers Moving to Italy: New Official Guidelines Released,” Cleary Gottlieb Alert Memo, January 4, 2021.

“Italy” chapter, The Executive Remuneration Review, ninth edition, November 2020.

“The Italian Trust Game,” Tax Notes International, June 29, 2020.

“How the Crisis Has Changed Managers’ Missions and Goals,” Milano Finanza, June 12, 2020.

“Italy: Highlights on the 2020 Budget Law and Related Tax Legislation,” Cleary Gottlieb Alert Memo, January 6, 2020.

“Italy” chapter, The Executive Remuneration Review, Law Business Research, 2012 through 2019, chapter on Italy.

“Italy Provides Incentives for Foreign Workers, Encourages Business Transactions,” Tax Notes International, July 22, 2019.

“Tax Regimes: Italian Regime and Other International Immigrant Regimes,” SDA Bocconi and JP Morgan Private Bank, July 2, 2019.

“Italy Enhances Tax Breaks for Certain Individuals Moving to Italy,” Cleary Gottlieb Alert Memo, May 8, 2019.

“New Italian Tax Rules on Carried Interest Promote Certainty and Careful Investment,” Tax Notes International, July 10, 2017.

“Italy’s Transaction Tax: Early Lessons,” IFLR, 2013.

“Meno premi ai top manager e più soldi agli alti dirigenti,”La Repubblica – Affari & Finanza, November 10, 2014.

“Italian Financial Transaction Tax Goes into Effect in March,” Practical European Tax Strategies, 2013.

“The Executive Remuneration across Europe - A Handbook of Design, Disclosure, and Enforcement Rules,” The Conference Board, 2012, co-author, chapter on Italy.

“Italian 10 Percent Additional Tax on Variable Compensation Paid to Certain Executives Employed in the Financial Services Sector Confirmed, ” Practical European Tax Strategies, 2010.

“Stock Options in Italy: Beneficial Tax Regime Repealed,” Practical European Tax Strategies, 2008.

Events

Milan, July 2025
Governance and Strategies: The Value of External Expertise for Single Family Offices.

Webinar, September 2024
The Italian Lump-Sum Taxation Regime and Comparable Jurisdictions.

Milan, September 2022
From Family Business to Family Office: Presentation Conference of the 2022 Family Office Observatory.

Milan, April 2022
From Family Business to Family Office.

Milan, June 2021
Università Cattolica del Sacro Cuore – Teacher on “Aspetti civilistici e fiscali del patto di famiglia” at Corso di Alta Formazione, Protezione, Trasmissione e Gestione dei Patrimoni Familiari.

Milan, December 2019
Colazione da J.P. Morgan – “Veicoli di investimento esteri e domestici: verità e falsi miti di prassi, dottrina e giurisprudenza controversi.”

Miami, 2019
“Destination Italy – Opportunities for Companies and HNWI.”

Milan, June 2019
Wealth Advisory Conference.

Rome, 2012-2016
Universita’ “L.U.I.S.S. Guido Carli” – Facolta’ Di Giurisprudenza, Master in Tax Law.

Bologna, 2016
Universita’ Di Bologna – Facolta’ Di Giurisprudenza, Master in Tax Law “A. Berliri.”

Milan, 2015
Synergia Formazione’s “Forum delega fiscale – La certezza del diritto nei rapporti tra fisco e contribuente – Il presidio del rischio fiscale.”

Milan, 2012
Paradigma’s “Forum Corporate Governance – La remunerazione dei vertici aziendali di società quotate alla luce del Regolamento Consob.”

Milan, 2009
ABI’s “Remuneration Policies e Compliance – La connessione delle politiche retributive con la gestione dei rischi.”

Amsterdam, 2008
IBFD International Tax Academy’s “Master on Hybrid Financial Instruments.”