PKF unmoved by mid-tier merger
Mid-tier firm PKF has said it is not threatened by the Baker Tilly - HLB Kidsons merger, a union that will knock the number eight firm from its spot in the top ten.
The merger, revealed last week, will change the landscape of mid-tier accountancy firms, and is expected to put the Baker Tilly – HLB Kidsons partnership ahead of PKF in terms of fee income in the league table.
But PKF chairman John Wosner said his firm was not threatened by the merger. ‘The one advantage is that it removes one competitor, that’s more important than league tables.’
He added: ‘I don’t think it’s going to have a dramatic effect on our market share in our niche products.’
But Wosner admitted the merger was a ‘good match geographically’, as Baker Tilly is strong in the Southeast while Kidsons prevails is in the North.
‘The test will be to see whether management can blend the cultures and create a successful business out of the two,’ concluded Wosner