David Morfesi, Co-Chair, WLG's Trade Group
Member Voices
From your perspective, what makes the Trade Group at WLG valuable to you and your firm?
The wide geographic range, deep and varied expertise, and facilitated communications make the Trade Group at WLG a unique asset for a trade practitioner and an asset to any member firm. A great example is the recent addition of Sayenko Kharenko (Ukraine) to the network, who I already knew as a strong, full-service commercial firm with a global focus and not only a dedicated trade practice, but one guiding clients through the eye of a geopolitical storm and years-long war. This is the kind of firm with whom we get to share experience and know-how and to whom we can confidently refer trade clients dealing with real uncertainty in Ukraine.
Given the shifting dynamics in global trade, what do you see as the most pressing challenges businesses — and their advisors — are navigating right now?
The biggest challenge today is dealing with instability. The global, rules-based trading system was set up post-WWII to bring stability, prosperity, and interdependence as motivation to maintain peace and economic well-being. Unpredictability is an anathema to a system based on regulatory compliance requirements and stable investment platforms.
How are you and your team helping clients manage the uncertainty and complexity of today’s trade environment?
From a broader perspective, in 2024, 4% of Australia's exports went to the US, and 7.5% of Australia's imports came from the US. Perspective and a considered response are key for every business facing disruption, and Australia is in a fairly good position to weather the storm. No matter where a client is located, the only things they can control are those aspects in their control, and they should not meet chaos with a chaotic response, but with a measured and considered plan to take advantage of any opportunities and pivot to mitigate potential damage.
When you’re not working on trade matters, how do you like to spend your time outside the office?
Leanne and I have three boys, three dogs, and live 400m from the beach. There are not enough hours in the day!