The international network of Smith & Williamson, Nexia, has merged with the world network of Saffery Champness, SC International, to create an international alliance with a combined turnover of $2.2bn (£1.1bn).
The new network will be known as Nexia International.
The network will be the ninth largest global provider of audit and accounting services in the world. The tie-up is expected to be completed by 1 December this year.
'SC International is a strong fit for Nexia International and, like us, has a reputation and culture for outstanding client service and for providing high-quality advice and guidance,' said Gareth Pearce the chairman of Nexia International and head of Smith & Williamson in the UK.
Pearce said the addition of the SC network to Nexia would strengthen the organisation's presence in New York, thanks to the addition of J.H. Cohn, the city's largest independent firm. The tie-up will also boost capacity in mainland Europe, South Africa, Mexico and Canada.
The merger of the networks will not however see the two UK firms pursue a tie-up. 'There have been no discussions and there are no plans to merge S&W and Saffery Champness,' said Jeremy Boadle, a director at S&W.
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