| Smith & Williamson in Irish merger |
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| Thursday, 12 June 2008 | |
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UK accountants Smith & Williamson are merging with Dublin firm Oliver Freaney & Company.
The combined firm will have an annual fee income of more than £175 million (221 million euros) and employ 1,500 people across all offices. Smith & Williamson is the eighth largest firm of accountants1 in the UK and includes an investment management business with £9.0 billion funds under management and advice, making it one of the largest private client investment managers in the UK. Oliver Freaney & Company, which celebrates its 50th anniversary in 2008, has a staff of 75 with seven partners. It is a highly respected provider of accountancy, tax, financial and business advisory services to entrepreneurs and their businesses. Both firms are long-standing members of the global accountancy network, Nexia International, which has enabled them to develop close working relationships and identify a strong cultural match. Gareth Pearce, chairman of Smith & Williamson, said, “The merger brings a number of advantages for clients. Smith & Williamson already has a presence in Ireland through our fund management business and our merger with Freaney’s complements this.” Ireland is becoming increasingly attractive as a base for both individuals and corporates, which Pearce said could only enhance the medium and long-term prospects for the country and boost demand for corporate advisory and private client services. Paul Wyse, Oliver Freaney & Company’s managing partner, will continue to lead the Dublin-based practice. He said that the merger represented a significant acceleration in the development of the practice and strengthened its offering to clients and the firm’s profile in the marketplace. “We will have access to Smith & Williamson’s significant tax and business service division and will introduce, in time, its investment management service to clients,” Wyse added. Cunningham Coates, the premier Belfast private client stockbroker, is also a member of Smith & Williamson. Related links |
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