PracticeConsultingHLB Kidsons chief Greatorex set to stay

HLB Kidsons chief Greatorex set to stay

The national managing partner of HLB Kidsons, Ray Greatorex, has said he fully intends to stay in his job despite the collapse of merger talks with Grant Thornton.

The merger, which was under discussion for seven months and would have created firm worth £230m with more than 300 partners, was called off a week ago, and prompted speculation regarding Greatorex’s position.

But speaking yesterday to AccountancyAge.com, he said he fully intended to see through his four-year term as national managing partner and that there was no suggestion within the firm that he should step down.

He denied he had been elected only to see the firm through merger. He said Grant Thornton had approached HLB regarding a merger proposal.

‘When someone like GT approaches it must be attractive. We were a smaller firm and it seemed to me it was worth pursuing.’

He said he had the full support of the board and that regional offices were behind him in pressing forward.

The merger collapsed after irreconcilable differences emerged between the two firms. After months of detailed negotiation, in which preparations began for integrating the systems of the two firms, Grant Thornton made it clear it did not want to take all of HLB’s offices into the merged business.

Links

Greatorex facing job uncertainty

Kidsons offices could be ‘cherry picked’

Grant Thornton merger collapses

Fresh obstacles threaten GT merger

Grant Thornton faces merger crisis

GT and Kidsons wrangle over merger

Mid-tier merger vote set for January

Kidsons set to merge with Grant Thornton

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