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October 7, 2016updated 15 Jan 2021 11:52am

News brief, RSM acquires Banks BHG, PwC receives record level of new joiners, M&A market in Scotland is bouncing back post referendum

RSM acquires Banks BHG

RSM is to expand its presence in the south west market as the firm has acquires Swindon-based chartered accountants Banks BHG.

Banks BHG is a long-established firm of chartered accountants, auditors and tax advisers that provide accounting and taxation services to SMEs as well as private wealth clients. With a turnover of £1.5m, the firm has two principles and 30 staff.

PwC receives record level of new joiners to the network

PwC added 58,081 people to its network in FY16, including 26,780 graduates, which is a record level of new joiners.

Overall PwC’s global headcount grew by over 7% to more than 223,000 people.  The highest increase in workforce figures comes from the growing markets of Asia and Central and Eastern Europe, states PwC.

In FY16 over half of new graduate recruits were female. In addition, 665 partners were admitted across the PwC network with, female partner promotions rising for the third year in a row, and now accounting for 27% of total new partners, according to PwC.

“With the increase in female partners admitted this year and the highest ratio of female leaders in our history on our global leadership team, we are making progress; but there is much more to do,” Chairman of PricewaterhouseCoopers International Ltd Bob Moritz said.

M&A market in Scotland is bouncing back post referendum – PwC

The Scottish M&A market has picked up in the summer following a halt to many deals immediately after the referendum result, according to David Leslie, head of deals at PwC.

“Post summer we are seeing some activity resume, we are aware of the recent acquisition of Edinburgh Gin by Ian Macleod Distillers and the pipeline is strong,” Leslie said. “Additionally there has been a noticeable uplift in deal activity stimulated by creditor pressure and restructuring transactions, particular in the oil & gas sector.”

The impact of the Brexit referendum is less than thought commented Leslie, however, he also said they will be monitoring the coming quarter “with strong interest”.

 

 

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