If successful, the move would make the new firm the ninth largest in the UK – based on fee income figures in the 1999 Accountancy Age Top 50 survey. The brand name of the larger firm, Baker Tilly, is set to be retained.
Chairman Clive Parritt, who will continue in his current role, said: ‘We’re delighted to be merging with Fraser Russell and now have the critical mass to fuel our bullish objectives. We aim to be the accountancy firm of choice in our target sectors.’
National managing partner at Baker Tilly, Laurence Longe, who will also continue in his current position, added: ‘The UK accountancy market is rapidly segmenting into the giant five, which focus on global and FTSE-100 companies, a group of up to 10 national firms and hundreds of independents. Size and geographical spread are essential.’
‘The merger is a natural response to broader economic and business trends and the impact of the old versus the new economy,’ he said.
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