Deloitte set to merge with BMR Advisors’s tax practice
Deloitte has reached an agreement to merge with BMR Advisors’s tax team after days of negotiation
The merger will give Deloitte control over BMR Advisors’s (BMR’s) tax team, which is led by Rajeev Dimri and Gokul Chaudhuri. The merger will also see more than 20 partners and 350 tax professionals from BMR move to Deloitte over the next few months.
BMR was founded in 2004 by Dimri, Bobby Parikh and Mukesh Butani. The three co-founders had previously worked at EY. Prior to working at EY, they had worked at Arthur Andersen before the firm was wound up in 2001-2002. BMR’s Rohit Berry is considering offers from Deloitte, PwC and KPMG regarding its mergers and acquisitions, corporate finance and risk advisory team.
Deloitte’s acquisition of BMR’s tax practice would be the Big 4 firm’s second within a year. Under N Venkatram’s leadership, Deloitte acquired up to 40 partners and 500 tax professionals from KPMG’s advisory team.
The merger comes in the new tax climate arising for the implementation of GST. It will also be an opportunity to close the gap between the Deloitte and the current market leader in tax advisory services, EY.