The emergence of key international firms in the domestic market has been a key development in 2010. We’ve seen the merger of Deacons with UK silver circle firm Norton Rose and the arrival of Allen & Overy in Sydney & Perth. Although most commentators are characterising the arrival of A&O as nothing more than Clayton Utz in disguise (ie without the thoroughly negative connotations being levelled at the firm, based a host of reasons), it is hard to not to reflect on how these two key developments in the domestic market will influence the shape of things to come.
To this end, we reported mid last year the rumour that DLA Phillips Fox would be seeking a full integration with its international affiliate at some stage in 2010. Despite being given the opportunity the opportunity recently in BRW to dispense with the rumours new Chief Executive Partner Tony Holland chose not to. Tony, a project finance partner, had ironically not had a chance to “go over the financials” of the intergration.
In that post we also reported on the major influx of Middle Eastern DLA partners to DLAPH. It is against this backdrop that the following rumour was sent to us from an anonymous DLAPH spy. If it is true, it would amount to a peculiar and reprehensible episode of “biting the hand that feeds you”:
Tony Holland was enticed from his position as deputy chairman at MSJ in 2008 by DLA Dubai (and ex-MSJ) partners. He was paid a fortune. Problem was, DLA Dubai had one client in Nakheel and was a sinking ship. The partners who brought Tony across have been sacked by DLA now. Tony saw the writing on the wall and got himself a plush job back in Melb as the new Phillips Fox Chairman. His game plan is to sever all ties with all Phillips Fox firms in Australia & New Zealand except Melbourne, Sydney and Brisbane. The rest can go jump!
After this, he wants to get rid of a heap of partners who are not in corporate or finance – ie turn Phillips Fox into another MSJ. Then, and only then, will Sir Nigel at DLA give the nod to the full merger. There are some very dodgey ex MSJ partners in Dubai and Abu Dhabi who have no clients or practice and have been given notice. They are nervously waiting for Tony to proceeed with his plans and to get jobs with Phillips Fox pre-merger, so they can be a part of his plans.
Hmmm… it is all starting to become a bit clearer (if the spy above is to be believed). First Tony returned to Oz. Then the DLAPH Adelaide office gained its financial independence… what next?
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