RSM Robson Rhodes, the Irish and UK chartered accountancy partnership, has been acquired by one of the largest professional services and audit firms in the US, RSM McGladrey, in a deal aimed at positioning RSM McGladrey as the largest global provider of accounting, tax and business consulting services to mid-sized companies. Both firms are part of the RSM International network, the world’s sixth largest professional services, accounting and consulting organisation.
In the latest FINANCE Accountancy survey, RSM’s Irish operation ranked in fifteenth position, with annual fee income of E7 million, indicating annual growth of 16.7 p.c. Thirty-nine p.c. of this income is generated by the firm’s financial services division, which is very active on the funds side. The firm has six partners, and a total work-force of 52.
According to Sheila Duignan, a partner with RSM Robson Rhodes in Ireland, ‘the deal will bring in new capital/investment to the Irish firm to enable it to compete with the Big 4’, adding that, ‘McGladrey view the Irish operation as very important in the deal and in the strategic development of the organisation’.
In particular, Duignan says that investment will be in the following areas: hedge funds & financial services; forensics; public private partnerships.
Duignan sees the move as a two-way flow of possible new business for the firm - by tapping into RSM McGladrey’s existing client base in the US; and by assisting US companies looking to grow and develop in Europe via Ireland.
All partners and staff will all remain in situ at the firm’s offices on Herbert Street. |
