Ashurst to run Adelaide office with no partners
Ashurst is to run its Adelaide office without any partners in response to ailing market conditions in South Australia.
July 29, 2014 at 03:27 AM
2 minute read
Ashurst is to run its Adelaide office without any partners in response to ailing market conditions in South Australia.
The UK-headquartered firm sent a statement yesterday saying that its one Adelaide partner and office head Tanya Denning would be relocating to Melbourne to head up its energy practice there, but that the office would remain open with two senior associates.
The firm also said it would be cutting the number of lawyers in Adelaide, with five people being affected.
"The steps we are taking are in response to current and anticipated levels of business activity in the South Australian market," said a spokesperson for the firm.
"Five people are affected by the change to staffing levels in Adelaide and wherever possible they have been offered the opportunity to relocate to other offices."
However, Ashurst maintained that its ability to service clients in the region would not be impacted, and that it had the flexibility to increase its resources quickly should there be heightened demand.
Denning will continue to oversee the Adelaide office from Melbourne, supported by other Ashurst partners.
Ashurst currently has six offices in Australia located in Adelaide, Brisbane, Canberra, Melbourne, Perth and Sydney.
It extended its reach into the country through last year's merger with big six firm Blake Dawson, and earlier this month, in its first end of year results since the merger, announced that profit per equity partner (PEP) had jumped 22% to £801,000 in the 2013-14 financial year, with revenue up 6%.
In April it also announced 15 partner promotions globally taking effect in May, four of which were in Australia.
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