Sydney-based Kemp Strang has become the latest firm to adopt a COO model. The firm will continue to have a managing partner, but will recruit a COO to manage internal functions such as HR, finance, IT and marketing.
Partner Steven Godding told ALB that the firm believed the COO model was the most efficient way to manage resources. “The benefits that we see are that it will not require one of the fee producing partners to be devoted in whole to management,” he said. “In the past it’s taken a significant amount of time for the managing partner to manage the [internal functions] of the firm. We thought it was a better use of resources to essentially delegate that to a professional manager.”
Godding, who was previously the firm’s managing partner, will vacate the role on 1 July and be replaced by litigator Michael Joseph. Godding, who will be returning to full time practice, previously had a reduced budget during his tenure as managing partner. By contrast, Joseph will be practicing full time. “Michael doesn’t have the day to day management obligations, so it’s not as great a burden as it was previously,” Godding said.
The firm’s CFO Paul Best will take on the role of acting COO during the search for a permanent appointment. Kemp Strang chairman Rob Wannan continues in that role.