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On Friday, the “M” in RSM stood for merger.
RSM’s biggest firms, RSM US and RSM UK, announced they’re “in advanced discussions to merge” to create “a partner-owned multinational organization” operating in the US, Canada, UK, Ireland, India, and El Salvador, according to a news release.
After joining forces, the new organization will have 23,000 employees and a combined annual revenue of $5 billion, according to the release. The merged organization will “provide assurance, tax, and consulting services for middle market leaders globally.”
The merger is pending as the firms wait for “definitive agreements and customary legal, regulatory and other approvals.”
“This merger will create a platform to more effectively serve client needs with quality services and more seamless access to our resources,” Brian Becker, managing partner and CEO of RSM US, said in the release. “We are doubling down on our future as a dynamic, partner-owned platform, at a time when the industry is undergoing transformation.”
Rob Donaldson, CEO of RSM UK, added, “We’ve decided to come together to form a unique partnership that goes further to service the needs of our clients as they expand globally, and to create terrific opportunities for our own talent. Now is the time to accelerate our ambitions by drawing on each other’s considerable strengths to become the middle market advisor of choice, globally.”
According to its website, RSM is a 60-year-old network that manages “a network of independent accounting and consulting firms.”