With the new financial year commencing this week, a number of Western Australia’s lawyers and accountants will be celebrating the fact as new partners of their respective firms.
With the new financial year commencing this week, a number of Western Australia’s lawyers and accountants will be celebrating the fact as new partners of their respective firms.
An analysis of the top 14 accounting and law firms in WA, according to the WA Business News 2007 Book of Lists, found 22 of the 28 firms made changes to their partnerships last financial year.
As of July 1, the state’s accounting firms had made 27 new partner appointments, and eight resign-ations.
WA’s largest firm, Ernst and Young, increased its partnership base by more than 20 per cent, with nine new appointments, and one resignation, bringing its total to 37 partners.
Fellow big four firm KPMG also increased its ranks by a similar margin, appointing six new partners to make a total of 28.
At this time last year, the firm had appointed just one new partner.
KPMG state marketing manager Joanne Dunn said the spike in partnership activity was a result of the state’s strong economic growth.
“Over the past five years, the maximum number we’ve had is three,” she said.
KPMG WA state chairman Steve Scudamore said the appointments reflected the growth of the business across its core areas of audit and tax, as well as its advisory services, including forensic and corporate finance.
Merger and acquisition activity has also provided a boost to the Perth office’s ranks. In April, KPMG's executive director Adrian Arundell transferred from the east coast to join the Perth office as executive director, corporate finance (mergers & acquisitions).
At the other end of the spectrum, Pitcher Partners lost two partners, while Bentleys MRI and HLB Mann Judd each lost one.
The top end of WA’s legal sector also experienced a swathe of new partnerships – 16 in total – at the start of the financial year.
Blake Dawson Waldron topped the list with four new partners appointed, bringing its total to 19.
A spokesperson for the firm said this reflected strong growth in the business, with revenues up by 12 per cent nationally.
Several WA firms are making you-nger appointments than in the past.
Jackson McDonald has appointed three new partners, reflecting growth in the areas of commercial transactions and property. Two of the firm’s new partners are 35 years old and the other is 36.
Jackson McDonald chief executive officer, John McLean, said the state’s economic boom had created an environment for young lawyers to showcase their talents.
Mr McLean said these lawyers had identified and specialised in areas of growth, creating partnership opportunities for themselves in a relatively short period of time.
Similarly, Minter Ellison has appointed two new partners, both of whom are 31 years of age.
Minter Ellison managing partner John Poulsen said the appointments reflected the firm’s desire to tap into young talent.
“There’s been a long period of time without renewal of partnerships. It’s the beginning of a new wave of renewals with the next generation,” he said.
Mr Poulsen said the new appointments meant four of the firm’s 19 partners were in their early thirties, following last year’s round of partnerships.
Allens Arthur Robinson, Deacons, Corrs Chambers Westgarth, Kott Gunning and Downings Legal each appointed a single partner.
