Keith Seeley, managing partner at Lathams, the biggest firm to join the Tenon group with 20 partners and a total of 200 staff, will leave at the end of next month as part of a prearranged deal.
He leaves saying Tenon has a ‘massive job of consolidation to complete’ and that he has already had approaches from accountancy firms and business.’It was comfortable to do the deal, but Tenon wasn’t for me and I couldn?t see a role that was meaningful for me.’
Meanwhile Tenon has begun its first training programme with an intake of 50 students onto a residential course in Sutton Coldfield.
The students had applied to join the legacy firms of the Tenon group. ‘Those who applied to one of the legacy practices now find they are joining a much larger group with far greater opportunities,’ said Ian Buckley, Tenon chief executive.
One of the new intake, Nancy Liddell, a trainee in the Yeovil, was delighted. She said: ‘I expected to join my practice as just one of a handful of students.’
Since its launch Tenon has developed into an organisation with fee income of £58.5m, which makes it the fifteenth largest firm in the country in its first year of operations. It is also becomes the first plc to be listed in the Accountancy Age Top 50.
Lathams was by far and away the biggest component of Tenon, which had to work hard to find firms willing to join.
Other outfits now under the Tenon group include the non-audit section of Morison Stoneham, Williams Allan, Berkeley Jackson, BKL Weeks Green, Jennings Johnston and Scott Oswald.
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