Grant Thornton ready to swoop on Andersen
Mid-tier firm Grant Thornton has emerged as another contender to pick up Andersen divisions and partners seeking a way out of the quagmire into which the firm has sunk.
Michael Cleary, UK national managing partner at Grant Thornton, told AccountancyAge.com today: ‘If any Big Five firm wanted to talk to us about partners and services to integrate of course we will be interested. We’d go through the front door, though.’
While expressing regret for the state Andersen is now in, Cleary said that Grant Thornton was the only mid-tier firm that had successfully integrated a Big Five office and partners into its own structure.
In 1999 Grant Thornton picked up KPMG’s Norwich office together with some of its partners who are now senior partners at GT.
But, he said the firm would not be looking to pick up divisions just for expanison’s sake.
‘You need to be sure that the business can be successfully integrated. We’ve recruited teams before and integrated them well,’ added Cleary.