CHAMBERLAINS LAW FIRM
director and practice leader, advisory – private wealth
Chamberlains has increased its head count by 50% since 1 July 2015, growing its number of partners from four to seven. As a result, the firm has seen strong growth in all practice areas, including establishing the ACT region’s only equine law specialist, which opened the door to new clients and new areas for growth.
Mark North, in the corporate and commercial practice area, has been appointed to the firm’s partnership, as well as Rory Markham in dispute resolution and corporate risk. In July, the firm also appointed Louise Morris to the partnership in the property practice.
While Chamberlains is careful to select the right culture fit for new recruits, Vik Sundar, director and practice leader, advisory – private wealth, says changing the buy-in requirements has made it easier for the firm to grow. “The rapid growth of Chamberlains at the director and senior level of the firm has largely been due to the implementation of a decapitalised equity model that places little value on the goodwill of the firm,” he says.
“Our biggest asset is our staff and their unique expertise, so when we find highly skilled staff, we are able to bring them into ownership of the firm without the need for that person to pay a significant entry fee or mortgage their home to fund that entry fee.”
Over the past 12 months, the ACT-based firm has focused on taking on private and commercial work and stopped picking up government work.
“As a result of our strategic decision ... we have seen a significant growth in revenue over the last 12 months,” Sundar says.