THYNNE + MACARTNEY'S PLAN OF ATTACK
Written on the 28 August 2014
BOUTIQUE law firm Thynne + Macartney has announced plans to expand further into Sydney.
Chairman of Partners Bill Loughnan (pictured) says the firm’s new strategic direction began with the dissolution of the Kennedy Strang Legal Group late last year.
He has outlined the new direction for Thynne + Macartney, pointing out the firm will be focusing on its key pillars of agribusiness, media, maritime and transport, and insurance.
"Discontinuing the KSLG alliance was a mutual and strategic decision between the four participating firms and was taken to allow all of us to pursue new goals and opportunities,” says Loughnan.
“The legal landscape in Australia has changed dramatically since the GFC and is still rapidly changing – firms need to be constantly re-evaluating their strategy and direction.
"As one member of the KSLG alliance, we were in the position of not being a truly national firm nor a stand-alone, independent firm.
“We saw this as stifling our potential for growth, particularly beyond Queensland and in the vast majority of practice areas where we did not have synergies with the KSLG alliance.”
Loughnan says Thynne + Macartney will follow a different business model to Kemp Strang, which announced plans to open a Brisbane practice earlier this week headed up by Glen Williams and Paul Wong.
"Like Kemp Strang, we share ambitions of expanding to, and growing in, other Australian markets, but unlike Kemp Strang we are targeting, for the most part, different areas of work using a very different business model.
"We strongly believe that alone we will be better positioned to align ourselves with our clients' needs and take advantage of the opportunities that will inevitably present themselves given our market leading expertise which is available at a fraction of the cost of our competitors in an increasing number of key geographical markets in which our clients operate.
"Unfortunately, this divergence in strategy has meant we have taken the decision to bid an amicable farewell to banking and finance partners, Glen Williams and Paul Wong, who will join Kemp Strang in their new Brisbane office.
"We have identified areas of Glen's and Paul's practices, namely the commercial dispute resolution and insolvency practice led by Marc Maskell, Partner, which align with our strategic objectives and will continue to service these areas.”
Loughnan says now is a great opportunity for Thynne + Macartney to regroup and refocus its practice, and sees Sydney as a fitting platform for growth.
"Going forward, we will focus our resources on our key pillars of specialisation in Agribusiness, Media, Maritime and Transport, and Insurance.
“We will also work hard to grow the markets we already service well based in Queensland, Northern Australia and Sydney.
"This move is obviously not at the expense of our large private clients practice and our successful property, construction, commercial, dispute resolution and insolvency practices. We believe these measures will promote growth in these areas, including Sydney.
"Our Agribusiness, Media, Maritime and Transport, and Insurance groups already enjoy market leading reputations in Queensland.
“We see Sydney in particular as the platform for continued growth in these areas.”