Scottish firm unveils new
leadership structure

Scottish accountancy firm Scott-Moncrieff has announced a new
leadership restructure. Gordon Armour has become the firm’s
inaugural chairman and Nick Bennett is the new managing
partner.

The decision to appoint a chairman represents a departure from
the firm’s previous board structure. Armour’s focus will be on the
strategic elements of the business, such as early identification of
growth opportunities, staff development and new services. He is an
expert in taxation and pensions and has an extensive history in
Scotland’s financial services industry. The responsibilities of
Bennett include the implementation of strategy, delivery of
services and driving the business forward in key sectors. Bennett
has been at the forefront of building the firm’s capabilities to
serve the public service sector.

Armour told IAB the introduction of a chairman will
provide greater flexibility for it to grow organically while
carrying out strategic assessment and analysis of
opportunities.

“We’ve been conscious of the huge pressure of the job previously
dealt with by one individual and decided that we needed two
people,” Armour said. “I think we felt there was the need to have
someone to give strategic direction and someone else to be involved
in the implementation of the policies.”

Scott-Moncrieff, a member firm of Moore Stephens International, has
23 partners and more than 180 staff at its offices in Glasgow and
Edinburgh. It provides audit, tax, wealth management, business
advisory and corporate consulting services to commercial, public
sector, not-for-profit and private clients.

For the financial year 2006/2007, the firm reported overall
revenues of £12.7 million ($26.4 million), up 8.5 percent from
£11.7 million for the previous 12 months. It reported strong growth
in corporate and consulting services, which increased by 20
percent. This included services such as corporate finance and
business technology consultancy. Another area of growth for the
firm was wealth management, which increased by 21 percent.

Armour said Scott-Moncrieff plans to build on these speciality
services, in particular employer compliance, corporate consulting
and value-added tax (VAT) services.

He said: “A few years ago, we only had a VAT partner, who was a
recognised specialist, and one assistant. We now have four people
in that VAT department and we’re likely to recruit another couple
over the next year or so. That’s a recognition that there is more
activity in the indirect taxation area and we would expect that to
be an area of growth.”

Arvind Hickman