RSM International, the sixth largest network by revenue, reported $5.37bn in 2018, up 5.4% compared to 2017.
According to RSM, growth was spearheaded by increases to the network’s consulting services, where revenue grew 14.5%. The network said this growth was helped by the introduction of GDPR, increased cross-border trade risk and the growing threat from cybercrime, which provided new opportunities to extend relationships with clients.
Tax advisory grew by 6% year-on-year, while accounting services grew 13%.
Jean Stephens, CEO of RSM International said: “2018 was a year of growth across our network, particularly for our rapidly expanding consulting services. Clients around the world looked to RSM for solutions based on a true understanding of their needs, solid expertise in their market and the agility to move quickly as the business landscape shifts. We will continue to focus on realising our global strategy and ensuring that RSM remains the leading adviser to the middle market, wherever we are in the world.”
Looking at the regions, European growth proved the strongest, with a 12% increase. 2018 also saw Gregor Schmidt appointed as the regional leader for the area.
RSM grew in all international regions – up 6% to $3.4bn in North America, 8% in Latin America, 4% in the Middle East and 2% in Africa.