BDO has completed its merger with Moore Stephens LLP, creating the largest UK accountancy and business advisory firm focused on mid-sized, entrepreneurially-spirited businesses.
The move creates a 300-strong team for BDO in Reading based across two offices in Thames Tower and Blagrave Street. The move also sees BDO extend its regional presence with a new office location in Watford.
From today, the merged firm will operate under the BDO brand and as part of BDO’s international network, which has 80,000 people and revenues of $9 billion across 162 countries. In the UK, BDO LLP now has a combined workforce of 5,000 people across 17 locations, delivering revenues of £590 million.
The merger, which relates to the London, Birmingham, Bristol, Reading and Watford offices of Moore Stephens LLP, will make BDO the third biggest auditor of listed companies strengthening its position as calls to improve quality and competition at the upper end of the audit market continue.
In addition, the merger cements BDO’s ranking as the UK’s leading auditor to AIM-listed companies and will enhance its expertise in sectors including financial services, insurance and shipping.
Simon Brooker, BDO partner in the Thames Valley, said: “Having been in talks for a number of months, I am proud we have reached the point where we are officially one firm. There couldn’t be a better time for our two firms to join forces.
“The audit market is going through a significant period of reform and our clients are facing unprecedented uncertainty as Brexit looms. However, with uncertainty comes opportunity and together we are in a position of strength to help ourselves and our clients be at the forefront of that change.
“Our clear sense of purpose and strong growth strategy will help our entire team make this merger a huge success.”
Miles Hewitt-Boorman, BDO partner (formerly head of Thames Valley at Moore Stephens LLP), said: “From the moment we started our conversations, our shared ambition was to create a fully-integrated firm that our people are proud of and one which leads in serving what we call the ‘economic engine’ – the entrepreneurially-spirited, mid-sized businesses that are driving UK growth.
“By combining our expertise we have created a market-leading firm in the region, enabling us to deliver an increasingly impressive range of services to help our people and clients succeed.”
About BDO LLP, the merged firm
- 5,000 people, including 300 partners
- Revenues approaching £600m
- 17 office locations across London, Reading, South East, Southampton, Bristol, East Anglia, West Midlands, East Midlands, Yorkshire, North West and Scotland
- Mid-market sector leadership in major sectors, including manufacturing, retail, TMT and financial services
- Leading adviser for AIM businesses
- Within a $9b global network, providing much-needed, greater choice in the market for larger businesses
- The leading accountancy and advisory firm focused on mid-sized, entrepreneurially-spirited businesses.