Accounting marriage brokers Jobtel predicts two new listed consolidators
could join the public markets in the next two years.
The broker, which helps merge firms, said that
acquisition of RSM Bentley Jennison was a sign that the markets
were prepared to back accountants’ growth.
Two new consolidators could enter the market by 2011.
Jobtel director Julian Hamilton said: “There appears to be a strong movement
within the City to encourage a more competitive environment amongst the top
accountancy firms – not only to keep a check on fees charged to clients but to
provide some relief from the now famous ‘too big to fail’ scenario – where the
governor of the Bank of England, no less, decried his inability to let market
forces get to work and that he felt constrained to support banks which should
otherwise have collapsed due to their own mismanagement.
“In that respect its probable that the emergence in time of a 5th top
accountancy practice would be viewed favourably by the financial regulators. It
seems likely that one way this further consolidation might take place is through
mergers funded by the City.”
Hamilton was involved in Vantis’ launch.
Mazars has announced the appointment of Michael Tripp as the new head of financial services
A new leader, Darra Singh has been appointed to lead EY’s UK government and public sector practice
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com