BDO and Moore Stephens LLP have completed their merger in the UK, becoming one firm and operating under the BDO brand.
The deal, which was announced in November, gives BDO UK a combined workforce of over 5,000 people across 17 locations, delivering revenues of £590m ($770.7m).
The merge, which only consists of the London, Birmingham, Reading, Bristol, and Watford offices of Moore Stephens LLP, will likely see the combined firm become the fifth biggest in the UK, overtaking Grant Thornton.
Despite this, there will still be a large gap between it and KPMG, the smallest of the Big Four.
BDO managing partner Paul Eagland said: “The audit market is going through a significant period of reform and our clients are facing unprecedented uncertainty as Brexit looms and global trade undergoes fundamental changes.
“Notwithstanding these uncertainties I’m confident that a combination of our 5,000 people and our reputation for trust and quality, puts us in a fantastic position to help our clients and our people to capitalise on the opportunities that always accompany such change.”
“Our clear sense of purpose and growth strategy will help our entire team make this merger a huge success.”
Former Moore Stephens LLP managing partner Simon Gallagher, who joined BDO’s leadership team as head of advisory following the merger, said: “From the moment we started our conversations, our shared ambition was to create a fully-integrated firm that our people are proud of and one which leads in serving what we call the UK’s ‘economic engine’ – the entrepreneurially-spirited, mid-sized businesses that are driving UK growth.
“This merger is one of growth and creates a new force in the market, enabling us to challenge our existing competition and deliver an increasingly impressive range of services to help our people and clients succeed.”
