Grant Thornton and BDO (Isle of Man) have merged to create one of the Island’s largest providers of auditing and accountancy services.
The agreement was announced in Douglas, Isle of Man, today (18th March, 2014). All positions are retained, bringing staff numbers at the new company to more than 30.
The new limited company will continue under the Grant Thornton name, now looking after a portfolio of clients which has more than doubled in size. Michael Crowe and Martin Kneale, formerly of BDO, become directors alongside Grant Thornton directors Dennis McGurgan and Richard Ratcliffe.
BDO employees will relocate to Exchange House in Athol Street, Douglas, where the existing Grant Thornton offices have been expanded to accommodate the larger team.
Mr McGurgan said: “This is a major step forward for both teams, as we bring together the wealth of experience and expertise from Grant Thornton and BDO to create a strong partnership which will deliver high quality service for our clients. Both firms have strong local roots so we are extremely proud to be taking our place as one of the largest accountancy firms in the Isle of Man. I hope our confidence in the ongoing growth of the Island’s economy is reflected in the substantial investment and significant development this merger represents.
“It is a perfect fit as both teams bring unique skills which are highly complementary and will allow us to enhance and expand the services we offer existing and new clients. It was an important consideration during our discussions that all staff members were retained, especially in terms of ensuring a seamless transition for all existing clients and maintaining the broad range of expertise both companies are respected for.”
Michael Crowe added: “We are delighted to be joining Grant Thornton Limited to enable continuity of service to our clients and to provide job security for our employees. Grant Thornton has a fantastic reputation in the Isle of Man as well as worldwide and is one of the world’s leading organisations of independent assurance, tax and advisory firms.
“More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.”
Grant Thornton Limited is a member of Grant Thornton International Limited, providing services including accounts preparation, audit, tax compliance and tax advice to high net worth individuals, local businesses, local subsidiaries of multinational companies, regulated companies, public companies, funds and other public interest entities. In addition, through its licensed corporate service provider, it is able to advise on the setting up and administration of offshore structures for legitimate purposes, including tax planning, succession/estate planning and confidentiality.
Photograph: (from left) Dennis McGurgan, Richard Ratcliffe, Martin Kneale and Michael Crowe.
