• Register
Return to: Home > News > Advisory > MGI Worldwide and CPAAI Merger flexes on international stage

MGI Worldwide and CPAAI Merger flexes on international stage

Having joined the Forum of Firms in January 1 2019 as a mid-tier network, MGI Worldwide would catapult itself into ranking 16th globally by fees with its merger with CPAAI (CPA Associates International), according to IAB World Rankings Survey projections. The merger will come into effect on 1 January 2020, to create a new organisation with 257 member firms around the world.

The merger finalised recently in Dubai, UAE, will bring revenues approaching $1 bn and combined, will offer clients access to almost 9,000 professionals in almost 100 countries. 

Member firms will benefit from greater resources, access to more expertise in new jurisdictions, a wider range of services and stronger brand recognition. Global quality assurance will be available to CPAAI firms as they join the MGI Worldwide network. It’s felt that with the two groups’ 60 year presence in well-established markets, and with CPAAI especially strong in the US, China and Mexico and MGI Worldwide with a greater global reach, are highly complementary.

MGI Worldwide’s CEO Clive Viegas Bennett said: “This merger greatly strengthens the already solid market positions of both organisations and the resources for our member firms with access to more business opportunities, wider geographical scope, and significant knowledge and technology exchange. The merger will help us not only retain the excellent firms within our existing organisations, but also attract new members who are looking for a different approach and greater support from a global international network.”

President of CPAAI Michael Parness added: “Our organisation and MGI Worldwide have a lot of shared values, a similar client base, and business DNA, so this merger makes sense in a world that is becoming ever more interconnected”.

The new group will be co-chaired by Roger Isaacs, the Chairman of MGI Worldwide and Jim Holmes, the Chairman of CPAAI. Clive Viegas Bennett will serve as Chief Executive Officer, with Michael Parness as Chief Operating Officer.

By Zoya Malik

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.