DOUG STIPANICEV

The Gadens partner and Perth chief tells Sean Smith happy, motivated staff are a firm’s best asset.

Biggest career break?

I have had a series of lucky breaks, including securing my first legal position in 1984 in a small firm, Muir Williams Nicholson, that grew into Freehills; a mentor who dedicated significant time to my training with a heart of gold but the mannerisms of a Dickensian schoolmaster; and an early partnership, compliments of a 1980s property and banking boom. But what stands out as my best break is a keen interest in the law, in people and a strong baby boomer work ethic. Coming a close second is missing out on a position to study medicine, which proved to be fortuitous, particularly due to my dread of needles and faint reaction to the sight of blood.

Describe your leadership style.

I have an open and collaborative approach to leadership. While I have strong ideas about where I want to take the firm and how to get there, I have a very competent team and their ideas are often even better. We don’t micro manage, we want our people to grow and learn. What we do focus on is the legal capability of our people and their ability to know when they need assistance. The firm’s reputation is the sum of its client service and quality of its legal advice. That is our priority.

First or most unusual job?

My first real job at age 12 was selling the Daily News newspaper in the city after school. My first round was in front of the WA Trustees Building on St Georges Terrace, but in time I was promoted to the round across from Boans, as it was then, in Murray Street. It was a good little earner at up to $1 a day. Newspaper House is all restaurants now but it is hard to forget the noise of the printing presses, the smell of the ink and the print dust everywhere.

Are executive remuneration levels excessive?

I don’t think the answer is about the number of dollars an executive takes home. Executives are, as are all employees, assets so we need to look at return on cost to determine true value. The contribution of Bill Gates to Microsoft is immeasurable, but then again $80 billion-plus is incomprehensible. On the other hand, Bernie Madoff may have been paid a tad too much.

Best way to improve productivity?

Computerisation and document automation are important, but by far the best way to maximise productivity is to foster a happy and motivated workforce. The key is to develop a sense of team, have some fun and don’t take yourself too seriously.
Do you use social media? Facebook and Twitter seemed to have snuck by me. I do have a LinkedIn account but I am sure I could be doing more with it. I am on standby for the next big social media anomaly.

How do you spend your spare time?

The answer is a wife, four children aged 9 to 24, one dog, eight chickens and a big garden. Any time that is left over is devoted to going for a run or following Formula One. I’ve been a follower for 35 years. Also, Gadens is a very social environment with a number of social clubs. Gadens’ Run Club Perth recently fielded a team of eight for the Sydney Running Festival where I completed my first marathon.

Last book you read?

I am a big Bryce Courtenay fan and the last book I finished was his last book — Jack of Diamonds. His first book, The Power of One, was the best book I have ever read. After a recent trip to Mumbai I have embarked on Gregory Roberts’ Shantaram, which is about an Australian who escapes prison and heads to India.

Favourite holiday destination?

Singapore is a current favourite. The travel time is short and the hotels and food are fantastic. There is an endless list of places for the children to visit and, unfortunately, the shopping is second to none. Gadens has an office there so I visit on business a lot — never a trip goes by where you don’t come across something new.
Your worst investment? Pretty much every share I have ever bought. Brokers use me to get their good clients out of bad share buys. I was once offered Fortescue Metals shares at 20¢ each but put the money into a company that has long since tanked.

What are the major challenges facing Gadens in Perth?

Gadens is a core legal service provider. We service our clients in the commercial field. Covering the full instruction field has meant that Gadens was kept busy during the global financial crisis and continues to have a thriving practice. Our primary focus on property and banking work (both lending and recovery) has also put us in the hot spot of the market for a number of years. But, as always, the legal market continues to evolve, particularly in WA as the resource industry moves from mining development to operation and management. We see opportunity in WA in agriculture, health and age care, transport and gas, and we want to continue to build on our existing expertise in those areas. We are very keen to continue to grow the firm’s solicitor numbers as we see our expertise, existing national client base and cost efficiency as natural advantages in this changing legal market. Growth is our priority and we are looking to grow the firm by lateral appointment at the senior level. It follows that our major challenge is sourcing the right senior lawyers.