Gerardo Braggiotti, the star dealmaker and former head of Lazard in Italy, plans to launch his new advisory boutique on Lazard's home turf, Paris. He had been expected to open the boutique in Milan.

Braggiotti is in negotiations to acquire Milan-based merchant bank Banca Leonardo, which will become his own boutique. Les Echos reports that a deal could be signed before the end of the week.