Purcell, who has been at the firm for almost 20 years, said it was one of the hardest decisions he has ever made and one he spent a long time contemplating.

“I have mixed feelings [about leaving]. I am sad that I will be leaving HDY because I have formed many close relationships. I have an excellent management team and I enjoy being part of a firm which has a great reputation and is respected by its peers. The firm has consumed a large part of my life and I will passionate about it until the day I leave. I am proud of what the firm has achieved in the last nine years and I am excited about taking on the challenges of a new leadership role whatever that role might be.”

Purcell said he was yet to approach the market but would be looking for a leadership position in either the corporate world or a professional services firm.

When asked what prompted his decision to leave, Purcell said it was simply time to try something new.

“It feels like the right time for a change. The firm has had enormous success and has a great reputation as a place to work. I am leaving it in good shape and well-positioned for whoever succeeds me,” he said.

Purcell said the achievements he was most proud of during his time as managing partner included having the courage to stick to the Sydney-only business model which has proved to be viable and successful, growing the firm and increasing its profitability, and increasing the visibility of the brand within the profession.

The HDY board is yet to announce a successor but said the process if underway and that Purcell will continue in the role until next year.

In another Sydney move, former managing partner of Minter Ellison, Alan McArthur has been appointed as the managing partner of Dibbs Abbott Stillman’s Sydney office.