BDO joins forces with Guernsey firm

BDO HAS ACQUIRED Guernsey-based firm BDO Limited, which has particular expertise in audit and financial services.

International firm BDO bought the largest independent accountancy firm on the island which specialises in audit and generates revenues of about £4m annually.

Simon Michaels, (pictured) managing partner at BDO, said: "This agreement provides us with an opportunity to acquire a business with growth prospects that will also enable us to enhance our UK offering, particularly in the financial services sector. It also allows us to bring our advisory services to current and future clients in Guernsey."

Richard Searle and Justin Hallett, two of the five directors from the Guernsey firm will become partners at BDO, with Searle continuing in his role as managing director of BDO Limited. The Guernsey firm employs about 50 people including five directors with no planned redundancies following the acquisition.

BDO has been branching out into different regions with the firm now running a dedicated China and India desk from its London office which is responsible for all European referrals.