find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Revenue and headcount up at Moray & Agnew

Revenue and headcount up at Moray & Agnew

Moray & Agnew is bucking the legal market’s contraction and redundancy trend by reporting a 16.6 per cent increase in revenue in FY2013, as well as a 49 per cent increase in headcount nationally over the last three years.

The revenue increase from insurance work has been the most significant for the firm, increasing by more than 19 per cent.

Moray & Agnew’s national managing partner, Michael Pitt (pictured), revealed to Lawyers Weekly that 80 to 85 per cent of the firm’s fee revenue nationally comes from the insurance practice, and said it was a “fair comment” to say that much of the success of insurance practices at the moment is down to the countercyclical nature of the market.

“There are a number of aspects of insurance work that tend to flourish when we’ve got recessionary times; not only the more significant areas like professional indemnity work .... [but] the day-to-day claims where the average man in the street seems to be making the most of any potential claim they might have,” said Pitt.

Moray & Agnew is not the only insurance specialist to record an uptick in work this year, with fellow insurance firm Gilchrist Connell also recording growth of 17 per cent. These figures contrast with figures released by full-service national firm Clayton Utz, which recorded a revenue fall of $18.7 million in FY2013.

However, global firms Baker & McKenzie and Allen & Overy also both increased profits this year.

Heads up

Moray & Agnew’s most significant people growth has taken place in its Melbourne office, which has increased headcount by 110 per cent in the last three years, bringing the staff numbers at that office to 120.

Pitt credits the growth to a few factors, including some key lateral hires in the last few years and the work of the firm’s Melbourne managing partner, Bill Papastergiadis.

“[Papastergiadis] is very well known in Melbourne ... and as a consequence of that and his construction insurance practice he’s been able to develop different opportunities in the property and planning field,” said Pitt.

As well as its traditional insurance practice, the Melbourne office now also has construction and property & planning teams, but Pitt emphasised that, while Papastergiadis has ambitions to grow those areas in Melbourne, insurance will remain the firm’s core practice.

The firm saw good growth in some of its other offices too, with headcount in the firm’s Sydney office increasing by 32 per cent in the last three years, while headcount increased by 62 per cent and 28 per cent, respectively, in the firm’s Newcastle and Brisbane offices in the same period.

Pitt has also not ruled out further expanding the reach of the firm, which also has offices in Perth and Canberra.

“I never say no; we’re not in South Australia and that is an option for us,” Pitt said. “We’ve looked at some possibilities there and it remains on our radar ... but [we have] no definite plans at this stage.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Revenue and headcount up at Moray & Agnew
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...