Martina Caldana

"Martina is our go-to, an excellent trusted advisor. We use her for CMA and EU cases." (2024)

Martina Caldana is a Senior Vice President in Compass Lexecon’s European Competition Policy practice and is deputy head of the Milan and Rome offices and practices in Italy, Brussels and London.

With over a decade of experience, Ms. Caldana advised clients on a variety of EU, US, and UK mergers as well as on cases involving various allegations of anticompetitive practices under EU, UK, and Italian competition law.

Ms. Caldana’s analytic focus is on merger analysis and she advised clients on some of the highest-profile EU and global mergers in recent years (e.g., Noble/Maersk Drilling, Google/Fitbit, Fiat Chrysler/Peugeot, E.ON/Innogy, Bayer/Monsanto). She also led teams and was part of antitrust cases related to Article 101 TFEU investigations (e.g., SSA bonds, security services Italy, car financing) and Article 102 TFEU investigations (e.g., Google Play Store India, Telecom Italia, airport facilities). Ms. Caldana also advised clients in the context of follow-on damage cases (e.g., following the corrugated cardboard cartel).

Ms. Caldana advises clients across a wide range of industries including, amongst others, financial services, energy, oil and gas, agrochemical, technology, automotive, media and telecommunications.

Ms. Caldana is a frequent speaker at conferences and events on competition law and economics.

Ms. Caldana holds a M.Sc. in Economics (with distinction) from Bocconi University, where she specialized in industrial organization and competition policy.

"She is a top-notch competition economist. She is very bright and hard-working and gets to the bottom of the issues quickly. She works tirelessly and produces excellent written work." (2024)

"She has the ability to condense complex econometric analyses into easy to understand and persuasive language. She can digest large amounts of data, with a quick turnaround speed, to provide econometric analyses that will add real value to the investigation." (2024)

"She has a very diverse practice and is excellent in every field. Brilliant in project management and technical aspects." (2024)

"She always provides excellent client service, she is always on top of things and very solution focused. She is excellent for complex cases where heavy lifting and challenging economic analyses are required. She is very sharp minded, hard working and it is always a great pleasure to work with her. I highly recommend her for her brilliant analytical skills and willingness to go the extra mile for clients." (2024)

"Very competent, great economist, pleasant to work with – I only have positive feedback!" (2024)

"Efficient, accurate, competent, effective, pleasant." (2024)

"Very thoughtful and happy to work with." (2024)

"I am a big fan of Martina. She is technically very strong and very engaging and I always look forward to working with her." (2025)

"She is a good economist, very smart." (2025)

"Great attention to detail. She has the ability to distil complicated data into easy-to-use tables and diagrams." (2025)