Firm Profile ALB SPECIAL REPORT | Brisbane 2011 >>
Mills Oakley Lawyers
Mills Oakley Lawyers – talent factory still growing Why are top-tier clients moving to mid-tier firms?
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ills Oakley’s rise to challenge its competitors for a position at the top of the mid-tier has not gone unnoticed in the business community. Its growth has been fuelled by several new clients that have left large national firms because they were dissatisfied with cost or service. John Nerurker, CEO of ALB Melbourne Law Firm of the Year Mills Oakley, points to an emerging trend in the legal profession. “There are two main factors to consider. Firstly, there is an increasing tendency following the global financial crisis, for large corporate clients to seek a better value proposition from their legal service providers. They are looking for law firms that are run more like businesses and who offer clients greater value and better service.
“the combination of top-tier talent with mid-tier value creates a natural appeal…” At the same time there is a steady migration of top-tier lawyers to mediumsized firms. Why are they moving? Partly because their clients are encouraging them to and also as they see a more flexible and even dynamic career path. So the combination of top-tier talent with mid-tier value creates a natural appeal for both lawyers and clients alike.” Stephen Dickens, Darren Ho and Andrew Johnson are three Brisbane partners whose legal skills Nerurker refers to as “confirmation of the strategic focus to position Mills Oakley as the most successful medium-sized law firm”. Praising his partners for their support, Johnson continues, “The challenge for us now is to focus on brand and to continue attracting the very best lawyers in the profession”. When asked about the culture at Mills Oakley, Darren Ho explains, “We have a spirit of adventure and everyone has benefited from increasing our market share. We also enjoy a strong sense of camaraderie and a commitment to delivering exceptional value to our clients.” www.legalbusinessonline.com www.legalbusinessonline.com
Without merging or acquiring any other firms, Ho explains that the firm’s strong results have been achieved by maintaining a relentless, yet controlled, growth strategy. Recent growth areas for the Brisbane office include Property, Corporate Advisory, Building & Construction and Workplace Relations.
“Mills Oakley’s new aim is to capitalise on its premium midtier firm status” According to Stephen Dickens, everyone who joins provides a stepping stone that helps the firm reach the next level, “People are attracted to Mills Oakley because they have good practices they wish to grow. He says, “By joining forces we have been able to achieve that goal very quickly.” While size is no substitute for excellent service, it does increase the breadth and depth of legal talent that a law firm can offer its clients. Having grown so rapidly, Mills Oakley’s new aim is to capitalise on its premium mid-tier firm status. The expansion plan currently underway could see the firm double its share of the legal market over the next five years. Nerurker refers to the growth of Mills Oakley’s Brisbane office as, “Probably Brisbane’s fastest growing law firm.” When questioned about his firm’s strategy, he explains, “We have been very successful attracting top quality lawyers that have placed us in an enviable position to compete for work historically transacted within a top-tier firm.” The overriding feature of the past year for Mills Oakley has been its dramatic growth. Last month, Heinz Lepahe, signed up as a new partner in Mills Oakley’s national workplace relations team. Based in Brisbane, Lepahe joins the firm from Cooper Grace Ward. Commenting on his appointment he said, “I am delighted to have joined Mills Oakley. The firm has a reputation for excellence, and its motivation and sense of purpose is inspiring. I am very much looking forward to complementing its practice and contributing to its growth and success.”
John Nerurker… intent on assuming a mantle at the top of the mid-tier
A contemporary partnership model Much of the credit is given to Mills Oakley attracting first-rate talent following an overhaul of its partner remuneration system. The firm now employs a transparent system of meritocracy when determining its partners’ equity levels, thus putting a stop to the Chinese whispers that damage those firms with less even-handed models. Nerurker believes the traditional partnership model that many firms operate within is outdated, and that young, energetic and ambitious lawyers are seeking a more meritocratic system. “A law firm’s only ‘product’ is talent,” he points out, “so the better the talent we attract, the better our firm becomes.” With a growing eastern seaboard presence, Mills Oakley is intent on assuming a mantle at the top of the midtier, and on providing a genuine alternative for clients using the mega-firms. With big ambitions and lots of developments promised in the near future, there’s little doubt that Mills Oakley is one law firm on the move.
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