Jilted McGladrey seeks long-term UK partnership
Robson Rhodes left its US firm RSM McGladrey at the altar, rather than the other way around, the US firm said this week as it pledged to continue its drive for growth
RSM McGladrey has maintained that it would have honoured its merger plans if
Robson Rhodes had stayed committed.
‘Our priority was to complete the process and finalise RSM McGladrey’s
acquisition of
Robson
Rhodes,’ the firm said. ‘David Maxwell informed
RSM McGladrey of
Robson Rhodes decision. The deal was to close upon the final due diligence
process. We were working toward that end and are disappointed that we were
unable to conclude our process as previously expected.’
All eyes will now be on McGladrey as it looks to build a UK presence. Some
have speculated it will consolidate several firms to build up an £80m practice
here to be partnered with the RSM network.
Managing partner Steve Tait said that McGladrey would not be put off from a
different UK partnership.
‘While we are disappointed that we were unable to conclude our partnership,
we remain committed to our international growth aspirations.’
McGladrey added: ‘This action does not change our international growth plans.
The RSM International executive office in London has begun the process to select
a new affiliate in the UK, with full support and active involvement from RSM
McGladrey.’
Last week, Robson Rhodes announced its merger with Grant Thornton, but there
are no ongoing complications, McGladrey said.
‘We have enjoyed a long partnership with Robson Rhodes and continue to hold
the firm and its partners in high regard.’