BDO merges with Moore Stephens
BDO has completed its merger with Moore Stephens to overtake its rival Grant Thornton as the fifth-largest accounting firm in the UK.
The merger gives the firm a combined workforce of more than 5,000 staff and 350 partners. The combined presence includes key offices in London and Birmingham, as well as 15 other locations in the UK.
BDO expects revenues of £590 million ($771 million) this year. The merger strengthens the firm’s hold on audit contracts in the alternative investment market (AIM). Though the firm is still a long way from challenging the dominance of the Big 4, though reports that Goldman Sachs is considering BDO to audit its British operations will be encouraging.