A round-up of the latest news, appointments, executive moves and acquisitions from the world of practice during September 2016.
* * *
RSM appoints corporate finance director
23 Sep - RSM has appointed Bart Somerville as a corporate finance director focusing on business and asset valuations based in the London office.
Sommerville joins RSM from BDO where he was a director in the valuation team. Prior to that, he worked at Deloitte UK for five years and PwC in Toronto for seven years.
Rob Donaldson, head of corporate finance at RSM, said: ‘RSM has a highly successful corporate finance advisory team in the UK and Bart’s extensive experience of providing valuations for a variety of different purposes including contentious disputes, restructurings, and financial reporting under IFRS, FRS 102, and US GAAP, complements and enhances our offering.
* * *
UHY strengthens Nottingham tax team
21 Sep UHY Hacker Young has expanded its taxation department with
with the appointment of five new team members.
Nottingham-based accountancy firm has taken on Rebecca Martindale, a STEP qualified senior manager, tax seniors Iain Wheat and Kim Cottee. The firm has hired trainees Hannah Kasem and Matthew Jones, who are working towards their ATT qualifications.
Simon Browning, tax partner at UHY Hacker Young, said: “We have been able to recruit some really talented people across different grades and service lines, all of whom will bring something slightly different to the firm.
* * *
Wilkins Kennedy reveals takeover
19 Sep - Top 20 accountancy firm Wilkins Kennedy has acquired the Maidstone office of Day, Smith & Hunter creating a combined firm with 72 partners and an expected turnover of £47m.
The firms have exchanged contracts and intend to complete the transaction on 30 September.
Upon completion, the DSH Maidstone office will trade as Wilkins Kennedy.
According to Wilkins Kennedy the deal is an important part of its growth strategy for the Southern region, linking its office coverage in Ashford, Canterbury and Sandwich with its long-established presence in Orpington. The firm now intends to develop Maidstone as a base for delivering additional services to privately owned and inward investment businesses in the county.
Rob Reynolds, regional managing partner of the firm said: “This merger provides us with a significant base in the centre of the county to support our growing client base. We look forward to welcoming our new colleagues to the WK team.”
Mike Startup, partner at DSH, added: “As well as enabling us to offer enhanced specialist advice, this deal gives us access to services such as corporate finance and recovery and restructuring which we have not previously been able to provide, and will help us to further grow the office’s client offering.”
* * *
PwC reports double digit growth
12 Sep –PwC has reported a £3.44bn revenue, up 11% on last year’s figure.
The Big Four firm attributes its growth to its continual investment in technology and client services, as clients demand cyber security, data analytics, and technology services. The firm believes investing in technology and supporting student recruitment will buffer any potential issues stemming from the impact of leaving the EU.
Chairman Keviun Ellis said: “We’ve had a strong year across all of our business areas. We’re seeing particularly high demand for our technology services, largely as a result of investment in targeted acquisitions. And we have prioritised building market-leading teams to help our clients capitalise on market disrupters such as blockchain, artificial intelligence and cloud technology.”
* * *
RSM appoints new risk assurance partner
12 Sep - RSM has appointed Andrew Manning as a risk assurance partner, based at the firm’s Bristol office.
Manning served as a director with Deloitte before joining RSM and has over 20 years’ experience at a senior level in risk consulting, governance and internal audit.
RSM’s national head of internal audit services Mark Jones said Manning’s appointment was strategic in engaging with the central government and charity sectors. “Andrew’s strength and reputation in these sectors combined with the opportunities we already have with the Government Internal Audit Agency Framework and the firm’s existing charity credentials give us an excellent opportunity to grow our market share in these strategically important areas.”
* * *
UHY appoints 30 year audit veteran
12 Sep – UHY Hacker Young has appointed Martin Jones as an audit and assurance partner, joining the firm’s London office.
Jones has worked for PKF, KPMG and Ecovis Wingrave Yeats over 30 years’ experience, where he provided audit, financial reporting, outsourcing and advisory services.
Jones said: “I am very much looking forward to developing my role within UHY Hacker Young and creating relationships with new clients working within hotels and restaurants, as well as in TMT businesses.”
* * *
BDO hires tax trio
8 Sep – Three new tax partners have joined BDO.
The tax trio’s appointments come after the firm reported a 20% increase in revenue from its tax team.
James Egert, who specialises in tax strategy and risk governance, arrives from EY; VAT practitioner Mark Ellis heads to BDO’s Manchester office after spending ten years at Deloitte; and Phil Hall led Grant Thornton’s East Anglia corporate team.
Commenting on the appointments, BDO head of tax Andy Butterworth said: “Investing in talent will continue to be a priority for us. We work in a profession where adding value and demonstrating expertise is the foundation for success. Having talented and passionate people like James, Mark and Phil will ensure we continue to remain an adviser of choice for our clients.”
* * *