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Addleshaw Goddard managing partner John Joyce has installed Gulf and Asia regional office heads in the latest stage of ongoing management reform at the firm.
It comes as part of an overhaul of the management team following the election of Joyce as managing partner in May (16 May 2014). The two new heads are construction partner and head of the Dubai office Andrew Greaves for the Gulf region and Hong Kong based Nigel Francis the firm’s Asia operations. Both will continue to report into international divisional managing partner Andrew Carpenter.
The management shake-down is a bid to simplify reporting lines devolve power to fewer key members of the firm. Joyce said although it was always the plan to appoint local heads in the international regions it made sense to do it as part of the firmwide overhaul.
The appointments are the latest in a string of management changes, which included the early exit of former managing partner Paul Devitt. His resignation triggered a contested election with Joyce going head-to-head with former head of real estate Adrian Collins for the top job (17 February 2014).
Joyce said although it was always the plan to appoint local heads in the international regions it made sense to do it as part of the firmwide overhaul.
The new raft of decisive management action comes in the wake of an 11 per cent drop in net profit over the last financial year from £44.9m to £39.8m (9 June 2014).
The firm is coming to the end of a five-year strategy, which despite a series of delivery and efficiency initiatives such as process mapping more than 40 of its primary transactions, has failed to deliver returns (18 June 2013). Joyce said a new strategy is being discussed and will be put in place after the firm’s partner conference in November.
“We’ll consult with the partners over the summer so by the time it’s rolled out everyone should be pretty familiar with it already”, he said.
Addleshaws has been active in Asia for two years having launched its first international office in the region in Singapore in 2012 (4 April 2012) and its second in Hong Kong last year (3 May 2013).
The firm’s second international launch came in September 2012 when it opened in Dubai shortly after Greaves joined from Trowers & Hamlins where had been regional construction head (11 July 2012).
It then went on swiftly to open in Oman (15 January 2013) and Qatar (28 May 2013) the following year, bringing the international office total to five in just two years.