Women in Legal Business - Maria Pia Carretta

Maria Pia Carretta is a partner at CP-DL Capolino-Perlingieri and Leone, where she advises on M&A, private equity, and venture capital transactions. Her practice covers the full investment lifecycle, from early-stage VC transactions with founders building something new to PE acquisitions and the complex M&A processes that restructure established businesses. That range requires a lawyer who can shift registers, from the founder who needs plain-language guidance on a term sheet to the institutional investor who expects board-level strategic counsel, and who brings the same rigour to both.

Looking at your career path, what unique leadership trait has been most instrumental in allowing you to "move the needle" within your organization?

The leadership trait that has most shaped my career is the ability to stay consistently aligned with core values — rigor, prioritizing clients' best interest, a thoughtful approach to work, continuous professional development and attention to detail. I never view achievements as final milestones, but as opportunities to look ahead and set new goals, both for myself and for the team. This mindset has not only empowered me to contribute strategically to the firm’s growth, but also to mentor colleagues by example, fostering a culture of excellence and shared responsibility.

Reflecting on the past year, what is the most significant positive change you have observed regarding gender equality and female representation within the upper echelons of the Italian legal market?

I would look at a longer-term trend rather than focusing just on the past year. Women are increasingly present in the Italian legal market, including in traditionally male-dominated areas like corporate M&A, and more women are being appointed as partners. Yet gender equality remains an ongoing challenge, especially regarding pay, opportunities, and perception.

According to the most recent gender report by INPS (Italy’s National Institute for Social Secutiry)– which reflects the Italian labor market as a whole, rather than the legal sector specifically – women continue to face persistent gaps in employment, pay and pensions.

Despite higher graduation rates, only 53% of women are employed, women earn up to 40% less than men and receive pensions that are 46% lower. Furthermore, recent changes to the Italian decree implementing the European directive on pay transparency risk weakening its effects. This highlights that, while ability knows no gender, structural challenges remain to be addressed and need continued attention to ensure equal pay and opportunities for those with equivalent skills and responsibilities.

How do you personally advocate for the inclusion of more women in high-stakes decision-making?

I advocate for the inclusion of women in high-stakes decision-making. First, I make it a priority to mentor and sponsor talented female colleagues, ensuring they are visible and considered for leadership roles. In our firm, I also work to create a culture where diverse perspectives are actively sought and valued because I’ve seen how it strengthens decision-making and outcomes. Finally, I use my position to encourage firm leadership to recognize and promote capability, not gender, while challenging assumptions that may unconsciously limit inclusion.

In a sector historically rooted in traditional structures, what is the single most important cultural shift still required to ensure that the Italian legal business becomes a truly meritocratic environment for the next generation of women?

The single most important cultural shift is learning to focus on actual technical ability, rather than being unconsciously influenced by ingrained assumptions. A simple test: when you hear the word ‘lawyer,’ do you first picture a man or a woman? As long as the default is male, it shows there is still work to do. Beyond awareness, practical steps help — for example, using structured evaluation criteria and blind reviews for promotions or high-stakes assignments helps reduce bias. I believe we have already seen significant progress, and this gives me confidence that the next generation of women will truly thrive in a meritocratic legal environment.

Success is rarely a solo journey. How has collaboration with other women (in-house or external) influenced your approach to business, and how are you paying that forward within your team?

In my case, my mentors were the founding partners of our firm — all men. From the very beginning, however, they demonstrated a deep commitment to recognizing and supporting women, valuing professional competence above all else. Selection and promotion within the firm have always been merit-based, without regard to gender, background, or personal characteristics, and this principle has shaped my own approach to leadership.

I now pay it forward by mentoring and sponsoring younger colleagues, with particular attention to the women in our team, helping them develop both technical skills and strategic confidence.

One "hard truth" or piece of advice for young women entering the legal profession today?

Hard truth: talent alone isn’t enough. Advocate for yourself, seek mentors, commit to continuous learning, learn to work in a team, set aside ego and focus on shared results. Collaboration, relationships, adaptability, and lifelong learning are just important as skill for achieving real impact and staying ready to reposition yourself in a rapidly evolving legal landscape.