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November 29, 2009

Praxity UK member Menzies ties knot with Morley and Scott

Praxity UK member Menzies has merged with
Morley and Scott to create a firm that generates £32 million ($53
million) in revenue and specialises in the SME sector.

The merged firm will operate as Menzies and
has 37 partners and about 400 staff based in seven offices
throughout London and the South East.

The move is part of an ongoing strategy to
focus on SMEs and smaller corporate enterprises by providing them
with specialist accountancy and tax advice, the firms said.

Mike Sands will continue to lead Menzies as
senior partner, while Morley and Scott managing partner Dick Watson
joins the management committee.

Sands said the merger will create a local firm
that is big enough in size and depth to be an alternative to large
mid-tier players.

“Business owners are struggling with red tape
and a highly complex tax regime,” Sands said.

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“They need sophisticated planning advice and
this should be available from their local accountancy firm. They
should not be forced to switch to a Top 10 firm just because
regulations have become more complicated,” he added.

“We intend to create a firm that is big enough
to give business owners the specialist accounting, audit and tax
advice they need, whilst still delivering the strong partner-led
relationship that they expect from their local accountant.”

Watson said: “While we have always guarded our
independence carefully, we welcome the opportunity of merging with
Menzies, a firm which shares the same ambition, culture, values and
approach to client service as Morley and Scott.

“We believe the enlarged firm, with the
capability to expand the specialist services we offer, is an
important strategic move for our clients, staff and partners.”

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