In April, one of Auckland’s more unique firms will celebrate its 10th birthday. Yes, it’s been 10 years since ex-Russell McVeagh
partners Dave Wetherell and Laurie Mayne broke away to form boutique corporate and finance practice
Mayne Wetherell. Key clients on the corporate side include private equity firm TPG and the Masthead group, and in banking and finance the firm is known for its relationship with Fonterra, for whom it performs all finance work. Other major clients include Transpower, Auckland Airport, Auckland Council, the four local banks, and many global institutions and investment banks.
Wetherell said striking out on your own requires some mettle. “Assuming you’re leaving one of the large firms, the key issue in determining whether to establish a boutique firm is to try and truly work out whether a practice is personal or institutional,” he said. “That’s what keeps you awake at night. It worked out very well for us because we had the support from day one of some very strong global and local clients, which gave us a solid base to grow from.”
Will we see more boutiques entering the market? “Looking at the demographic of the present partner universe in the top five firms or so – and the style of younger partner that seems to be being made up – while a boutique tax practice is possible, in terms of finance and/or corporate it’s probably run its course for now,” said Wetherell. “You might continue to see a few older guys putting a shingle up, but that is a very different proposition to establishing a new firm with longevity in mind, so I don’t think you’re going to see a flood of new credible boutiques emerging in the short to medium term.”
Partner, Mayne Wetherell (2004)
- Partner, Russell McVeagh (1991-2004)
- Solicitor, Russell McVeagh (1987-1991)
|Years of Experience:
- The only "star" in banking and finance in Chambers Asia Pacific 2014
- The only New Zealander ever listed (25 only global) in Euromoney’s Best of the Best guide for structured finance and securitisation.
||Has a wife, and 4 sons
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