In an article appearing in the Financial Review, it is highlighted that the firm has lost nine staff, including seven property lawyers. Managing partner Chris Lovell is quoted as saying:
the market is very much a day-to-day proposition. One day it’s looking terrific and the next it’s looking pretty ordinary.
It appears that Holding Redlich has taken a ‘sack-now-ask-questions-later’ approach to the GFC, though as Lovell notes:
[the firm] has benefited from a very pronounced trickle down as big clients, now reluctant to pay top-tier prices, move to smaller firms. This should leave the firm in a much stronger position… those who take advantage of … opportunities … come out best at the end. That’s what we are entirely focused on… It’s a bit painful on the way through…
Growing pains or sacking opportunism? You decide. Send the Firm Spy your news and views!
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