RSM Robson Rhodes is planning to merge
with American firm RSM
McGladrey. The two firms have already signed an agreement in principle, but
the association is subject to final due diligence and the execution of
David Maxwell, managing partner of Robson Rhodes said: ‘This transaction is a
bold move designed to address the call for greater choice and to meet the
growing needs of the international mid-market. The resulting organisation will
also enhance career opportunities for our people who will become part of a
leading organisation that is taking the industry in a new direction.’
On disclosing the news in a joint statement, the firms billed the move as a
joining of forces, but it has been described as a takeover by the Stateside
division on the US newswires.
Robson Rhodes has been in the spotlight recently as it became the subject of
an AIDB investigation as former auditors of software company
It also won the prestigious contract for the FSA audit in a move that was
largely seen as sending a message to the accounting sector that the mid-tier was
capable of handling plum audits.
Former managing partner Sukhbinder Heer set out plans to catapult the firm’s
revenues past £200m by 2007, but its inability to meet his ambitious designs saw
him stand down in May. During his time at the helm he doubled revenues to £85m,
but he hinted that he left the firm because of a lack of entrepreneurial spirit
among the partnership.
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