Andersen reviews merger opportunities
Andersen UK managing partner John Ormerod this week revealed the firm was 'looking hard' at the possibility of merging with rivals, as part of plans to readdress how it meets the needs of the market.
Speaking exclusively to Accountancy Age, Ormerod said the firm was in the process of reviewing how it should present itself in the UK and globally.
The Big Five firm began the review process in March, and it is not expected any decisions will be made until October.
He said: ‘We are looking to find out what is driving the market and what our clients need. One method for moving forward may be to look for partners and alliances if it is found merging is a way of meeting our requirements.’
But Ormerod – who replaced Phillip Randall in March – warned any potential mergers may be difficult to carry out.
He added: ‘We will not embark on a merger strategy purely for superficial reasons. We are determined to maintain our culture and in fact, we recognise we are not a natural merger partner because of our own strong culture.’
Meanwhile, Ormerod said the firm’s decision to drop Arthur from its brand had been well received and that the new brand was ‘easier to understand’.
Links
Tension mounting over ‘KPMG merger’