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April 30, 2008

Nexia member takes over Deloitte branch

By Nicholas Moody

Nexia member takes over Deloitte branch

Nexia Netherlands member Kroese-Wevers Accountants and Tax Consultants has reached an agreement to take over the Deloitte branch in Emmen, the Netherlands. KroeseWevers chairman Johan Bossink said the takeover fitted perfectly into the firm’s strategy to strengthen its position along the northern Dutch and German border.

The acquisition has increased Kroese-Wevers’s work force by 20 percent to about 300 staff in eight provinces. The Emmen sale includes the SME accountancy and consultancy practice.

Bossink said there would be no change for the branch’s current employees. “There will be no question of lay-offs, so customers can continue to rely on their trusted contacts. Our new branch in Emmen also offers our clients the complete package of Kroese-Wevers services: accountancy, taxation, salaries and advice on subsidies,” Bossink said.

Corporate finance will be added as a new discipline.

SMEs still important Deloitte Netherlands emphasised that the sale was not an indication it was leaving the SME company market. Board member Jan Dalhuisen said Deloitte had decided to centralise its activities in the northern districts and both the clients and the professionals involved are positive about this decision. “The SME market is and will remain an important market segment for Deloitte in which we invest significantly in state-of-the-art technology and are upgrading our range of services,” Dalhuisen said.

According to IAB’s latest Netherlands survey (see IAB 411), Deloitte had the highest fee income in the Netherlands, earning €698 million ($992 million) in the year ended May 2006, with income growing 5 percent on the previous year. The sale of Deloitte’s Emmen practice contributes to the ongoing reduction in the number of Deloitte offices across the Netherlands, from 50 in 2005 to 35 in 2006.

In comparison, mid-tier association Nexia Nederland, which was established only in 2006, had a fee income of €47 million and 17 offices across the country.

Nicholas Moody

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