Lee Castledine’s Post

Exciting developments

Exciting times for the world of professional services! The announced transatlantic merger between RSM UK and RSM US LLP represents a bold step toward creating a truly global mid-market advisory powerhouse. This merger is more than just a strategic alignment; it's about uniting talent and expertise across borders to better serve the evolving needs of clients. Having worked alongside both diverse teams, I understand the power of collaboration in delivering deeper insights and value. This merger seems poised to amplify that potential on a grander scale. What are your thoughts on the growing trend of cross-border mergers in consulting and professional services? Are we seeing a new era of truly seamless client service?

I have big news to share with you. RSM UK and RSM US LLP are in advanced discussions to merge. This will make us the only partner owned transatlantic firm in our market. It also includes RSM Canada and RSM Ireland. Our respective Media & Tech practices already closely collaborate, and we already have a joined up Interactive Entertainment team. The merger can only be a good thing for our clients, our people and the industries we serve. Read on below; there is also an article in today's FT.

❗ KPMG UK and KPMG Switzerland merge under a new LLP In a significant move by one of the Big 4, KPMG has announced the merger of its UK and Switzerland businesses, forming a new £3.4 billion group. The merger will see KPMG establish a new limited liability partnership (LLP) bringing together the two firm’s equity partners. The new LLP will own the existing UK and Swiss firms. Key Details: Jonathan Holt, KPMG UK’s CEO and Senior Partner, will take on the role of Group CEO. Stefan Pfister, CEO of KPMG Switzerland, will become Group Deputy CEO. The merger promises to: ✅ Enhance the delivery of outstanding outcomes for clients internationally and domestically. ✅ Enable faster growth, improved profitability, and joint investments. ✅ Maintain agility while leveraging KPMG’s multidisciplinary model and sector expertise. This move by KPMG is not isolated in the Professional Services market, with other Big 4 and Advisory firms making large scale changes to adapt to current market conditions, as well as the evolving consulting industry. Additional Examples include: 🔹 Private Equity firms seeking interest/acquiring majority stakes in consulting firms such as Grant Thornton, EY Italy, and Baker Tilly. 🔹 Successful build-outs of challenger advisory firms such as Interpath Advisory, Alvarez & Marsal, and FTI Consulting. 🔹 Deloitte launching its biggest reorganisation in a decade to cut costs. The market this year is definitely keeping headhunters like me on their toes. I am intrigued to see how the market further develops over the coming months... #KPMG #BusinessMerger #ProfessionalServices #Consulting

Big moves in the accounting world! RSM US LLP and RSM UK are in talks to merge, marking a major transatlantic step for the sector. With a combined force of 23,000 professionals and annual revenues of $5bn, this merger is set to elevate service for mid-market clients globally. Both firms will bring complementary strengths to the table, with the goal of becoming the 'Big One' for middle-market businesses. To learn more information about this, visit https://lnkd.in/eXDEiDd2 #Accounting #AccountingIndustry #AccountingJobs #BusinessNews #GlobalExpansion #MidMarket

In a major shake-up for the mid-market sector, RSM has announced plans to merge its US and UK firms, creating a powerful new entity with over 23,000 professionals and projected revenues exceeding $5 billion. This merger, if finalised, is poised to reshape the landscape of financial services, offering significant implications for the industry at large. Here’s what this potential move could mean for finance professionals and businesses 👇 #financeprofessionals #accountancyrecruitment #northwestbusiness #smetalent #cimaqualified #financejobs #recruitmentspecialist #financerecruitment

A New Merger with a $4.4 Billion Business! Partners at KPMG UK and KPMG Switzerland have voted to merge the two firms, effective October 1, 2024. The new limited liability partnership (LLP) formed will: 🟦 Bring together the equity partners. 🟦 Own the existing KPMG UK & KPMG Swiss. 🟦 Pay the partners of both firms from this single profit source. Also, a new committee will be formed consisting of senior executives of both KPMG UK & Swiss. This committee will be responsible for the decision-making and sustainable growth. Who is going to lead this new LLP? The CEO of KPMG UK, Jonathan Holt will be appointed as the Group CEO along with the CEO of KPMG Swiss, Stefan Pfister as the deputy Group CEO. I read somewhere that Jonathan Holt believes it to be a landmark moment for both firms, but considering what happened in the 2007 KPMG partnership of the four firms, we can’t really say anything. But the time has changed. Do you know which all KPMG firms merged in 2007? Comment below. Follow CA Archit Agarwal for more such insights.

Two major Irish accountancy bodies, CPA Ireland and Chartered Accountants Ireland, are pursuing a merger to tackle evolving professional challenges, citing concerns about industry attractiveness, technological advancements, and regulatory engagement. The amalgamation aims to enhance strategic positioning, efficiency, and member propositions.  The amalgamation of both bodies would aim to simplify the accreditation process, increase the influence of the accountancy profession, and offer a more enhanced member proposition which would attract new candidates. I believe that this is a positive development in the accountancy sector allowing for a more streamlined and attractive proposition for prospective candidates. What are your thoughts? #CPA #ACA #merger

Divestitures are an ideal time to reimagine and transform operations - it’s not just about separating the businesses. It's about designing winning commercial organizations, balancing growth and cost while capitalizing on potential new market entry, channel expansion, and more. Read further from Dietrich Chen and Laura Simion: https://go.ey.com/4by1b2B #Divestitures #CommercialStrategy #StrategyRealized   Divestitures can ignite growth with commercial strategy | EY - US

🌞Top #3 SOX Risks during a Merger and Acquisition🌞🚩 By Jeffrey L. Hoekstra Mergers and acquisitions (M&A) present significant challenges and risks, especially regarding SOX compliance. Here are the top #3 SOX risks that companies should be wary of during M&A: #1. Inadequate Due Diligence 🔍 Inadequate due diligence can result in overlooked liabilities and post-merger financial restatements. Thorough due diligence is crucial to uncover potential issues and ensure transparent financial reporting. Good Example: When Amazon acquired Whole Foods, they conducted extensive due diligence, identifying all potential liabilities and ensuring a smooth integration process. Bad Example: HP's acquisition of Autonomy is a classic case of insufficient due diligence, where HP failed to identify significant financial discrepancies, leading to a substantial write-down and legal battles. Continue reading: https://lnkd.in/gvWpBvzk