Group A - Kidsons could lose partners
Partners in Kidson Impey’s regional offices are preparing to jump ship if the proposed merger with Moores Rowland falls through.
A number of Kidsons’ offices have discussed terms with rival mid-tier firms. The Blackburn and Norwich offices, which refused to comment, have been targeted as the most likely candidates to break away, according to a sector analyst who asked to remain anonymous.
A partner of a Group A firm involved in the talks with the disgruntled offices said: ‘I am not sure where they are going but I expect bits to fly off.’
Kidsons’ partners are understood to be concerned by possible weaknesses in both firms that could endanger merger talks. Neither firm is understood to be outperforming the sector although their precise financial position is unclear. Both refused to produce results for a forthcoming Accountancy Age poll.
A source said both firms could expect difficulties merging properties where most of their asset value is tied up.
In the past few months, a number of senior staff have marched out of Moores Rowland to join specialist tax outfit Chiltern. This week, Chiltern managing director Andre Bischoff revealed a leading tax partner will shortly join the company.
Moores Rowland managing partner Clive Weeks denied that more senior staff were leaving the firm. He said: ‘I have no knowledge of further developments.’
Both firms said merger talks were still on course.