Baker Tilly UK is to join RSM International, several months after it bought major parts of troubled RSM Tenon in a pre-pack deal.
Baker Tilly UK will formally join RSM International later this year on completion of a notice period with the Baker Tilly International network.
During the transition period, the firm will continue to trade as Baker Tilly UK, "but will disclose prominently that it is an independent member of RSM International, after which the firm will then formally adopt the global network name and corporate identity".
The Baker Tilly UK and RSM Tenon tie -up deal created a firm of 3,500 partners and reporting fee income of over £300m..
Jean Stephens, chief executive of RSM International said: "Baker Tilly is a large, well respected, quality national UK firm with a diverse client base. There is a natural alignment with RSM with respect to core values, focus on quality and aspirations for growth and development. In reaching this decision, we have engaged in an in-depth mutual due diligence process.
The Baker Tilly team has met with RSM members in Asia Pacific, Latin America, Europe, Africa and the US and it is clear there is a strong cultural fit and alignment in vision and purpose. I am delighted Baker Tilly will be joining the RSM network as our UK member firm. Their admission will be of significant benefit to clients of RSM member firms across the globe."
Baker Tilly UK managing partner Laurence Long said the move is "in the best interests of our clients, partners and staff".
With the addition RSM International has filled the gap in the UK market it had since the deal between RSM Tenon and Baker Tilly UK, however it leaves Baker Tilly International searching for a new UK member.
Baker Tilly International chief executive and president Geoff Barnes said: "The board of Baker Tilly International is disappointed that the UK firm has decided to leave the network. However, the network is stronger than any single firm; we have been considering this eventuality for some time and evaluating the options available to us in order to ensure continuous seamless service to our clients. An announcement will be made once the formalities relating to a new member firm are completed".
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