Brand strength leads to fee income growth for RSM
The firm reports 7.6% global fee income growth for the year ending 31 December 2016
RSM has reported 7.6% global fee income growth for the year ending 31 December 2016.
The growth comes following the first full year in which RSM operated as a “unified, global brand”, the firm said. The total fee income for the year increased to $4.87bn.
RSM launched its global brand in October 2015. RSM firms worldwide have “used the past year to embed and strengthen the RSM brand in their national markets, focusing on a unified vision to be the provider of choice to middle market businesses”, the RSM statement said.
The firm also reported a 20% rise in the number of cross-border referrals – the result of a “single, consistent and identifiable brand”.
The consulting service area increased by 8.1%, while tax services rose by 7.5%. The number of staff across the network jumped by 8%, with 41,420 people now working across 793 offices. The number of partners across the world increased by 5%.
With regard to firm growth, fee income in Latin America grew 21%, with 19% growth reported in Sub-Saharan Africa. Growth in both Asia Pacific and Europe rose by 8%, while Middle East and North Africa and North America regions increased by 7%.
Jean Stephens, CEO of RSM International, said: “RSM delivered confident growth throughout 2016, despite uncertainty in the global economic and financial landscape. Our global brand and increased resource and expertise sharing, coupled with further system and process integration, means clients are able to utilise the strength of the whole global network wherever in the world they have chosen to engage with us.
“2017 presents many challenges for middle market businesses: fluctuating exchange rates, cash flow issues, devaluations, and an uncertain economic and political climate, both locally and globally, to name just a few.”
“Clients need trusted support to realise new opportunities, with advice and insights from an adviser that has a deep understanding of their particular business environment. We have seen an increasing number of international, dynamic middle market businesses choosing to work with RSM. Delivering on our client promise of ‘The Power of Being Understood’ will be more pertinent than ever in 2017,” Stephens added.
This news comes following a recent wave of appointments at the firm in the UK, including two partner appointments in East Anglia and head of corporate tax in Birmingham.
RSM UK also announced a merger with RSM Northern Ireland in January this year.
