Middle market specialists merge

financial-planning/accounting/merger/

1 June 2015
| By Nicholas |
image
image image
expand image

Middle market accounting and advice specialists, Pitcher Partners Sydney and Moore Stephens, will merge later this year.

The two Sydney-based firms will official merge their practices from 31 October 2015, in a move that will see the group target revenues of $48 million for the 2016 financial year.

Current Moore Stephens managing director, Rob Southwell, has been named as the combined firm's managing director, who described the merger as "a game-changing event in the Sydney accounting space".

"This is a fantastic opportunity for our two firms and the benefits to our staff and clients will be significant," he said.

Pitcher Partners Sydney managing partner, Carl Millington, said the firm had been looking for a partner in the city for some time, but stressed that "the importance of cultural alignment and a shared vision are paramount - rather than growth for growth's sake".

While Pitcher Partners Association national chairman, Don Rankin, said the merger between the two firms in Sydney would strengthen its position in the market.

"The greater size and strength we will now have in Sydney will improve our competitiveness and provide a platform for growth," Rankin said.

"It will provide clients with a quality Australian firm with enormous depth that is focuses on the middle market."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 6 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 2 days ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

3 days 21 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5