PracticeAccounting FirmsEx-Bentley Jennison group seeks ‘positive engagement’ with RSM Tenon

Ex-Bentley Jennison group seeks ‘positive engagement' with RSM Tenon

Former Bentley Jennison partners, many still at RSM Tenon, club together their shareholding to represent major investor group

FORMER BENTLEY JENNISON partners have grouped together to create a major shareholding in RSM Tenon.

The group, which includes partners who moved across to RSM Tenon following the firms’ merger and their spouses, have appointed Tony Stockdale as attorney over an 11.64% shareholding in the listed business.

Stockdale, who currently serves as an executive director at RSM Tenon, said the move was “positive” and gave the shareholder group more of a voice.

“As an informal group of shareholders you’re in a certain position, but as a concert party then in terms of a voice, the balance is different,” Stockdale told Accountancy Age.

The change in management team at the firm, along with its strategic direction, are backed by Stockdale and the shareholder group.

“Is it defensive? No. We’ve done this because we’re committed to RSM Tenon and it achieving its strategy and objectives. We want to contribute on debates. We’re not passive, but positively active. We’re not uneasy [about the firm’s direction].

“We want to be seen four-square behind these changes, and make positive suggestions as shareholders.”

A spokeswoman from RSM Tenon said: “The company looks forward to engaging with this group as it does any major shareholder.”

Chris Merry was appointed CEO of RSM Tenon following the departure of Andy Raynor. The appointment followed a number of other management changes at the firm, which had faced a profit warning and accounting restatements.

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