BDO International has revealed that Jeremy Newman is to become
chief executive of the global network next year.
Newman has been managing partner of UK member firm BDO Stoy
Hayward since 2001. His term is due to end in September 2008 and he
will succeed current global chief executive Frans Samyn a month
later. An election to appoint Newman’s successor at BDO Stoy
Hayward will be held early in 2008.
Newman will continue to focus on the growth and success of the firm
until he is due to take up the global position. He said: “It will
be a privilege for me to move into this new role with BDO
International and to drive forward the development of an already
strong international network, ensuring that BDO can truly be the
only alternative to the Big Four, not only in national markets, but
also on an international scale.”
During Newman’s time as managing partner, BDO Stoy Hayward has
increased its fee income from £122.5 million ($242.5 million) in
2001 to £317 million this year. Staff numbers have more than
doubled to over 3,000. BDO Stoy Hayward claims it is the only firm
outside the Big Four to audit a FTSE 100 company in recent years
and has the largest portfolio of FTSE 350 audits of the mid-tier
Newman will be remembered in the UK profession as a strong advocate
for increasing competition and choice in the audit market. BDO
cited his leadership on these issues as one of the key attributes
that make him an ideal candidate to promote the network’s market
position, strength and capabilities.
Samyn said: “I am pleased to see that the BDO International network
is determined to further strengthen its position in the worldwide
accounting market. Clients and prospects are keen to see more
choice and regulators want more competition. With his track record
in the UK, Jeremy will be able to convince the entire worldwide
network and the international markets that BDO will fill the
During Samyn’s term, BDO International’s global revenues have risen
from $2.4 billion in 2002 to $3.9 billion in 2006.