DWF shuts 3 Australian offices

DWF shuts three Australian offices 

UK-listed firm DWF announced the closure of its offices in Melbourne, Sydney and Newcastle, but retained its Brisbane office to focus on institutional clients and insurance.

The closures means 14 principal partners lose their jobs, but the firm will retain connected services in Brisbane, Sydney and Melbourne, and said it remained committed to the Australian market.

The firm expects its Australian operations to lose £3 million (US$4.1 million) to £4 million in the 2021 financial year, as well as one-off non-underlying associated closure costs.

“It is never easy making decisions like this, but rationalising our Australian operations is about focusing our investment resources on areas aligned to group strategy and priority sectors and clients,” said DWF’s CEO in London, Sir Nigel Knowles.