Born in Milan on October 4, 1969
Degree in economics & commerce – Milan Cattolica University.
Registered on the Milan Order of Certified Accountants and the Roll of Account Auditors.
Founding partners and Managing Partner of FIVELEX Studio Legale, Francesco Di Carlo began practicing in 1995 and after significant experience at leading Italian firms, in 2000 he co-founded Annunziata e Associati, where he was stayed until the foundation of FIVELEX Studio Legale.
He has longstanding experience in advising financial institutions and Italian and foreign funds on banking, financial, insurance and company law matters. His expertise is mainly focused on the incorporation and authorization of financial industry players and funds, M&As and Italian and international corporate reorganizations, the provision of cross-border reserved transactions, the structuring of financial products and assistance to intermediaries with the administrative stage of the penalty proceedings initiated by Supervisory Authorities. He has also developed significant experience with the regulatory supervision of listed companies, with particular regard to the protection of minority shareholders, corporate governance, related-party transactions, reporting obligations and market abuse. He has assisted major international institutional investors in the management of their shareholdings in listed companies at the various stages of their investments, including with respect to governance issues and damages claims. He is often involved in innovative projects related to legislative changes in his areas of practice. He has been working for years with the major Italian and international Authorities.
In 2016, 2017, 2018 and 2019 he has been named by Who’s Who Legal Private Funds as “one of the leading advisers in the Italian funds industry, assisting asset managers and investment funds”, “a highly experienced private funds lawyer with a superb reputation for providing expert advice to financial institutions, funds and asset managers”. In 2016, 2017 and 2018 he was included among the 50 Italian advisers who have left their mark in business advisory, according to In 2018 he received the Lawyer of the Year award in the Finance Regulatory category from the Legalcommunity Finance Awards.
Between 2007 and 2016 he was President of the Regulatory Committee of the Italian Private Banking Association, of which he is currently a member.
He has held and holds offices in major companies engaged in his practice area.

From 2017 he is Mediobanca’s statutory Auditor.