Managing Partner of Wisewould Mahony, Adam Rich Talks About the Recent Merger Between Wisewoulds Lawyers and Mahonys Solicitors.

There is an old adage that in order for a law firm to attract new clients and staff of reputable quality it has to be of a certain size.

As of 1 July 2009 the culmination of months of negotiations, Wisewoulds Lawyers and Mahonys solicitors have merged practices to form a truly unique modern and progressive firm staking its claim as one of the top mid tier firms on the market.

Comprising 14 partners, 45 lawyers and over 150 staff, Wisewould Mahony has responded to the recent market changes and the economic downturn by instead evolving as legal service provider with the depth, experience and size that only a merged entity could provide.

Like any new business organisation, a merger is not without its share of challenges. Expectations from the clients and the wider legal fraternity remain high.

We talk to Adam Rich the former managing partner of Wisewoulds and the new managing partner of Wisewould Mahony about those expectations, the merger process and the firm’s immediate plans as an amalgamated entity.

Adam, what were the reasons for Wisewoulds’ decision to merge with Mahonys?

Adam: A mixture of things. 12 months ago we identified that Wisewoulds needed to expand in its Commercial and Property law areas in order to balance the various work areas of the firm. We moved offices 18 months ago into our current office space at 419 Collins Street. Our new office space came with 15 spare offices and we have been keen to fill this space with the right practitioners.

Can you talk us through the pre-merger process – what were the challenges and how did you overcome them?

Adam: Informal discussions were held over a 10 month period with the 2 senior partners from Mahonys, Bob Carpenter and Frank Field. Like us, they were keen to find a partner which shares a similar culture of mutual respect, loyalty, hard work, high quality practical legal services and personalised client service. In this regard, I believe that both sides were very fortunate to have found each other at this time. We agreed on the merger at the end of May 2009 and the biggest challenge was making the merger happen by 1 July 2009, both in a physical sense as 33 staff from Mahonys had to move offices to 419 Collins Street and also integrating the systems and processes of the 2 firms.

What are the immediate challenges that Wisewould Mahony face in the post merger environment?

Adam: The immediate challenges facing Wisewould Mahony are cultural assimilation and maximising the numerous synergies and benefits which the combined firm offers. Being two long established Melbourne law firms both with a rich history and strong internal culture, it will take some time for a new “assimilated” culture to naturally evolve. The key is to ensure that the 2 cultures continue to be respected and that patience, understanding and respect is maintained during the settling in period.

The coming together of the 2 firms creates a great opportunity for both sides to market and sell their services to each other’s existing client base. The merger provides us with an outstanding team of lawyers to service and grow our client base. Mahonys has complementary expertise in the following existing practice areas of Wisewoulds:

• Corporate & Commercial.
• Property and Mortgage Services.
• Commercial Litigation & Insolvency.
• Wills & Estates.

Mahonys has also brought some new practice areas to the combined firm, namely:

• Credit Unions, Banking and Finance.
• Gaming, Licensing and Hospitality.
• Family Law.
• Criminal law.

The combined firm is now able to provide its valued clients with a greater level of specialised service. The challenge is to ensure that our clients are aware of this and that prospective clients are also informed of our extra capabilities.

What personal role have you played in the run up to and post merger?

Adam: I have mainly played a role in facilitating discussions between the two firms and, leading up to the merge, ensuring that Wisewoulds partners and staff were kept informed of the progress of the merger and after 1 July 2009 ensuring that the Mahonys staff felt welcomed and that all Wisewould Mahony staff are able to get on with the business of providing clients with a high quality personalised legal services.

What cultural impact do you think the extra influx of staff will have on the merged firm?

Adam: 2 partners, 12 lawyers and associated support staff from Mahonys joined with Wisewoulds, creating a law firm with just over 150 staff. The merger provides us with an outstanding team of lawyers to service and grow our client base.

Of the 14 solicitors who joined from Mahonys, many have been practicing law for a long time and have a wealth of experience as well as high quality long standing clients. Wisewoulds had a much younger group of solicitors and we are hoping that the two groups can work together to ensure that Wisewoulds’ clients receive the full benefit of the greater depth of experience offered by the Mahonys solicitors and that Mahonys’ clients can see that they will have continuity of service going froward through the ability for younger practitioners to become involved with these clients.

The impact this will have on the culture of the merged firm is that it should create a truly full service medium sized modern law firm which will continue to maintain its culture of rewarding and recognising hard work whilst maintaining a work life balance.

What is your vision for Wisewould Mahony of the future?

Adam: My long term vision is that Wisewould Mahony will become recognised as a full service medium sized Melbourne city law firm known for its personalised approach to the practice of law coupled with high quality legal services at an affordable cost.