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February 16, 2011

RSM Tenon warns of job cuts

RSM Tenon may cut about 60 jobs as a result of
the firm’s integration with acquired businesses Vantis and Bentley
Jennison.

RSM Tenon is currently consulting staff about
the possible redundancies, which may be less than 2 percent of the
firm’s total staff, but a spokesperson told the International
Accounting Bulletin
it hopes to redeploy as many of the staff
affected as possible.

The firm added that it is continuing to
recruit new staff and does not expect its overall headcount to
decline.

In December 2009, Tenon merged with RSM
Bentley Jennison to form RSM Tenon and in 2010 RSM Tenon acquired
£7m ($11.3m) of Vantis assets after the firm announced it was
entering administration.

New recruits

Today RSM Tenon announced the expansion of its
risk management business advisory services through the appointment
of a new specialist organisational development team.

The five-strong team has joined from Irish
firm FGS, a member of RSM International. 

The service provided by the team will help
organisations going through periods of change, in particular
advising on organisational structures; executive and management
capability, and people and skills needed.

It will also provide placements for foreign
students requiring language and work experience in the UK and for
UK students requiring overseas work experience in other European
countries.

The firm has also boosted its investment team
with the appointment of Keith Speck.

In his new role, Speck will develop the
discretionary management process, help run the model portfolios and
manage a number of bespoke high net worth client relationships.

Speck, who has more than 17 years experience
in international private banking and asset management, previously
worked for Santander.

RSM Tenon Financial Management said Speck’s
“wealth of experience” will support its goal to raise assets in its
discretionary proposition to £0.5bn by the end of the year.

 

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