RBS RoeverBroennerSusat (RBS), German member firm of Moore Stephens International, and independent firm Haag Eckhard Schoenpflug (HES) have merged, effective 1 January 2014.
The client base of both firms has traditionally focused on the medium-sized market, in particular owner-managed companies.
HES partner Horst Eckhard said that both firms complement each other strategically and that they will "enhance their service offerings to medium-sized companies under the trade name of RBS RoeverBroennerSusat".
As a result of the merger, the combined firm serves clients in industries such as the financial services, real estate, energy, publishing, service sectors as well as hospitality and tourism. It also allows Moore Stephens International to expand and reinforce its presence across Germany, the international network said.
RBS was the eleventh largest single firm in 2012, with revenues of €65.4m ($89.4m), according to the latest International Accounting Bulletin Germany survey. Currently, RBS said it has more than €70m and 54 partners and 700 employees in ten different locations across Germany.
RBS Frankfurt am Main partner Gerhard Schmitt said that with this merger RBS continues to enhance its ranking among the top ten of the industry at the Frankfurt location and that it can be "recommended for larger audit and tax advisory engagements".
Moore Stephens International ranked seventh among Germany’s accounting networks with revenues of €182.1m in the year to September 2012.
"This merger with HES in Frankfurt further strengthens RBS’ position as a specialist firm in the mid-tier offering a real alternative to the Big Four for substantial medium-sized and owner-managed businesses in the Rhine-Main region," Moore Stephens International executive director for Europe Chris Rawden said.