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May 18, 2009

Seventh-largest Irish firm leaves Praxity for RSM International

(FREE) Ireland’s seventh-largest
professional services firm has joined RSM International, a move it
hopes will allow it to grow in line with clients.

FGS reported revenues of more than €30 million
($40.8 million) in its most recent financial year. It has a team of
300 staff, including 30 partners, and is the seventh-largest firm
in terms of revenue and manpower.

The firm provides audit, accounting, tax and
specialist advisory services in property, wealth management,
corporate restructuring, insolvency, forensic and transaction
services. Target clients include SMEs and the firm has a strong
presence serving the financial services sector, in particular fund
management, professional services and pharmaceuticals.

FGS was previously a member of the Praxity
Global Alliance but left the association as it was in direct
competition with similar sized Praxity member firm Mazars.

“We had an anomaly in the Irish market where
the seventh- and eighth-largest practices in the Irish market were
both parts of the same association,” FGS managing partner Ian Duffy
said. “That didn’t make any sense for us strategically so we
decided to look around and see what alternatives were in the
market.”

Duffy said RSM membership will allow the firm
to better serve multinationals that operate in Ireland as well as
growing Irish clients that are branching out.

“Our long-term strategy is to evolve our
client base to small corporates and larger SMEs, so the scale, size
and complexity of the client are increasing,” Duffy added.

RSM International chief executive Jean
Stephens said: “The firm adheres to RSM International’s common
goals of high standards of technical assistance and providing
outstanding client service and shares our strategic vision to be
the partner and adviser to growing and ambitious international
companies.”

Headquartered in Dublin, FGS also has offices
in Belfast and Longford. The firm is registered with the US Public
Company Accounting Oversight Board.

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