So sayeth Australia’s whistleblower legal website.. who report
Where will the exodus of lawyers go? Obviously, we cannot answer that question in every instance, but in the case of Mallesons, a firm we consider leader of the pack in terms of exodus potential (very low pay, apparently highest working hours), things just became a little clearer.
This from an anoymous Mallesons spy recently:
Mallesons partners must reconsider their current, stringent view on remuneration, the reported 44% profit margin, and they must do so quickly. I am presently considering a far more generous offer from Gilbert + Tobin to join its new Melbourne office and right now I see no compelling reason to stay at the firm. By market rates, my remuneration is appalling and a Red Balloon voucher, purchased en masse for a discount, does nothing fix the situation. Partners should be advised that things need to change, and quickly, or G+T might just land the entirety of Telstra?s work along with dozens of Mallesons lawyers.
As reported by AFR (11/12/09):
G+T managing partner Danny Gilbert snared a large chunk of Mallesons? work from Telstra earlier this year after offering to provide unlimited advice for a fixed fee? G+T has appointed 5 new partners in the past 6 months, & its partnership has grown by 7.4%. G+T is also growing in geographic terms. It will open its first office in Melbourne soon. The move is client led – Telstra?s [general counsel] Will Irving is based there? Gilbert says ? ?Telstra was looking for a broader engagement with the firm across all of activites the firm has expertise in and we were looking for a fee arrangement that had the best prospect of expanding our connections across what is a very large corporation?.
Full article at? http://firmspy.com/mallesons-stephen-jaques/2611/mallesons-shudders-as-lawyers-consider-move-to-gilbert-tobin
