Cross-Border M&A in the Age of Geopolitics: Challenges, AI and the Skills That Matter

Luca Maccagnani Castelli, Partner at Livingstone, took part in a panel organised by the Bocconi Students M&A Circle in Milan, focused on the theme “Cross-Border M&A – How Geopolitics Is Rewriting Strategies and Markets”.

The event explored how shifting geopolitical balances, evolving regulatory frameworks, and international market dynamics are influencing cross-border M&A strategies. Advisors are operating in an increasingly complex environment, where managing operational, cultural, and strategic challenges has become a core part of the role.

Navigating complexity in cross-border deals

Cross-border transactions demand the ability to operate in an inherently complex environment — one shaped by time zone differences, language barriers, and varied cultural sensitivities. In this context, the ability to adapt quickly and engage effectively with international counterparts is a key factor in deal success, particularly in the early stages of a professional career. Among the critical success factors: thorough preparation and a tailored approach to each process.

The role of AI in M&A

Artificial intelligence is transforming how deals are prepared, accelerating the drafting and analysis of documents. In an increasingly complex and international landscape, these tools are helping make transactions faster and more efficient, supporting advisors and their teams in managing large volumes of data and information.

How AI is reshaping junior roles in M&A

The impact of artificial intelligence on junior M&A roles emerged as one of the most discussed topics during the exchange with students. Many participants expressed concern that increasingly advanced AI tools could, over time, take over a significant portion of the work currently handled by junior professionals.

Luca Maccagnani Castelli acknowledged that certain operational and repetitive tasks will indeed become more automated, making processes faster and more efficient. At the same time, he stressed that the defining edge for future professionals will remain the ability to think critically, challenge the outputs generated by technology, and add real value through analysis, judgment, and strategic vision. In a constantly evolving landscape, perseverance, intellectual curiosity, and the capacity to question AI outputs will be increasingly central to building a successful career in M&A.

Why a global perspective is essential for advisors

Understanding geopolitical developments, market trends, and international regulatory environments is now essential for anyone working in cross-border M&A. A global perspective is no longer optional — it is a core competency for any successful advisor.

The panel underlined how cross-border M&A is increasingly about people, strategy, and the ability to read and anticipate the forces reshaping markets. The conversation with students and future advisors also highlighted the importance of mentoring and knowledge-sharing in developing the next generation of M&A professionals.