BDO actively chasing Andersen partners
BDO Stoy Hayward is in recruitment talks with 'a significant number' of Andersen partners, managing partner Jeremy Newman has announced today.
Newman told AccountancyAge.com that the firm had had conversations with around 40 Andersen partners about their recruitment strategy.
He said: ‘We believe the development of the firm depends upon recruiting quality people. We’re looking to grow in some areas in key financial sectors and locations in the UK. We want to dominate the growing businesses area.’
‘There are talented people at Andersens in locations and disciplines that we want to be in and we have asked them to consider the possibility of joining us.’
The firm has mostly been talking to tax partners ‘in the broad sense of the term, not only corporate tax,’ corporate finance, and audit partners.
The locations tagetted by BDO include Reading, Birmingham, Manchester and Leeds, as well as London, although the says it can take fewer partners in the capital. The firm is also seeking to expand in Scotland, but ‘Andersen does not have much of a presence there,’ said Newman.
BDO is considering the recruitment of both individuals and teams of people. Although there have been some responses, Newman said it was too early to tell how many Andersen partners they would take on.
Some partners are positive about the offer, and BDO is ‘having conversations with people,’ while others have had offers from Deloittes have asked to consider their options for six months.
But some have said no and decided to take up the offer from Deloittes. BDO has also turned some Andesen partners down.
The news comes as it emerged last week that BDO Seidman has been openly recruiting US Andersen partners. The New York Times reported BDO’s US counterpart sent an e-mail to 600 Andersen partners criticising the competition in attempts to stave off other firms’ offers.