30 Aug 2011

“I had a dream, but I could not have foreshadowed that it could have turned into the business it is today,” David Mond, Managing Director says. “Over the last 20 years, our company has gone from strength to strength, and seeing that achievement has been my greatest joy.”

In 1989, recoveriescorp's Solicitor Director, Leon Sholl commenced Sholl Nicholson, a legal practice providing legal solutions to major insurance companies. The following year, Managing Director, David Mond purchased a small debt collection agency, Exclusive Mercantile.

In 1991, whilst attending a routine visit to the dentist, Leon was inspired by an article he read in the American Journal.  The article spoke about a Texan company offering a service to major insurers conducting claims leakage reviews. The article was titled “There’s Gold in Dem Dar Vaults”.

Recognising the need for this service in the Australian Insurance market, Leon Sholl, David Mond and David Nicholson (Leon’s partner at Sholl Nicholson solicitor firm) formed a partnership and the gap in Australian insurance claims recoveries was filled.

20 years later and Recoveries Corporation Group now employs more than 250 people, services 30 of Australia’s largest ASX200 companies, and collects $800 million with a turnover more than $22 million per annum.

The company’s service offering has grown with demand over its 20 years and has acquired and implemented the following businesses throughout its journey;
• Mason Black Lawyers offering legal services
• ACS Pty Ltd providing collection software solutions
• Reminder Call Services Pty Ltd providing call centre capabilities
• Nimrod Finance Pty Ltd debt purchaser.

Testament to the character of recoveriescorp is the longevity of its clients, with over 20% of its clientele being with recoveriescorp for more than 10 years -  its longest client being 18 years and, its longest staff member also serving 18 years.

“By building the best possible team, we have created a unifying culture that lifts the organisation and stays ahead of the competition”, Mond says.

As recoveriescorp moves into the next 20 years and we reflect on the past, we take this opportunity to thank our clients.  We recognise the strength of our partnerships for without our valued clients, we would not be here today.