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This is part of our occasional series on CFOs’ first day on their current job.
Coffey Modica, an insurance defense litigation firm, is in expansion mode. Founded in 2021, the law firm has nearly 100 staffers and six offices in three states.
Its new CFO, Peter Gould, is helping the firm continue on its growth trajectory.
In announcing the hire, Coffey Modica made clear it brought in Gould in large part because of his experience helping companies achieve growth.
“[Gould] is adept at identifying, managing and achieving a company’s KPIs and I have no doubt that together with Peter’s guidance, Coffey Modica will achieve greater market presence and an even larger platform to deliver its unique style of strategic legal counsel for insurers and the companies and business leaders they insure,” Michael Coffey, founding partner, said in a statement.
Gould recently spoke with CFO Brew about what the first weeks of his tenure were like and the first tasks he intends to tackle as CFO.
Introductory period. Gould spent his first two weeks visiting the firm’s offices, which are primarily in the New York metro area. His objective was to learn about the firm.
“I think it’s very important when you have this role that you listen first and you talk afterward,” Gould told us. “You’re going to have to talk afterward, but first of all, you want to listen and learn what’s there and what people think…and that’s what I’ve really been doing, visiting the offices and trying to learn both the systems and the people in the firm.”
Time for an upgrade. A primary objective of Gould’s is upgrading the technology that Coffey Modica’s employees use to manage the company.
Gould declined to get into specifics, but said he was looking to implement “second generation systems” to set the company on a “solid base” of growth. The system upgrade will do this, he explained, through automation and by better integrating information.
“They use one system, which is very good, but we need to improve it,” he said. “They just need better access to information to manage the firm, both from a legal point of view and from an accounting point of view.”
Record of growth. Over the years, Gould has become an expert in enabling growth. According to Coffey Modica, he’s helped billion-dollar companies expand both organically and through M&A strategies, including roll-ups. He also founded an M&A advisory firm specializing in middle-market companies across various industries.
“Wherever I’ve gone, I’ve enabled the company to grow,” he said, adding that “those skills will really help me with this current position.”
As a seasoned growth-focused finance pro, Gould said he helps organizations expand by ensuring they have the working capital they need and providing strategic guidance. Coffey Modica’s growth plans include adding to its headcount and expanding geographically, including by landing more international clients, he said.