14 profile
Merger enhances BDO’s offering to local clients
Simon Brooker has become the lead partner at BDO’s Reading office as his firm is involved in a major accountancy sector merger with PKF – and he is delighted. 'It’s been an exciting start to my new role and one with the promise of many future opportunities for my 175 colleagues in Reading, and indeed for BDO overall,' said Brooker, interviewed by John Burbedge
The agreed merger between the two firms, which should be formalised under the BDO name this spring, will create a business entity with roughly 3,500 staff generating annual revenues of more than £400 million.
For Brooker, the amalgamation represents “about as good a business jigsaw fit as you are likely to get.” The closest PKF offices to Reading are in Guildford and London.
“At our Reading office it will be business as usual, but with the added excitement of opportunities only increasing for our combined firm.”
Reading staff have been fully briefed about the merger advantages by both Brooker and BDO’s overall managing partner Simon Michaels.
Both firms provide full service accountancy and business advice, predominantly to mid-market clients, but offer specialisms in different fields. For example, PKF has expertise in the public sector, healthcare, hotel and leisure, not-for-profit, professional practices, and the football industry (it’s currently administrator for Portsmouth FC); BDO in the Thames Valley is very strong in technology, media, telecoms, manufacturing, and financial services sectors. PKF is strong in consulting; BDO in outsourcing.
Both firms also have extensive global links through their respective international organisations – good news, says Brooker, for local businesses increasingly looking to overseas markets for growth or needing to outsource foreign back-office operations.
Importantly for Brooker, both firms have cultures with a focus on high-quality customer service underpinned by close relationships with clients.
“The area where we win out over competitors – our core quality, our differentiator – is our service excellence. We deliver what we say we will. We have invested in improving client service over the years and are now reaping the benefits,” says Brooker. “Independent
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research shows that 90% of our clients would recommend us.”
He aims to encourage a more holistic approach to meeting client requirements by establishing “greater teamwork and connectivity between our service lines.”
Brooker is also a ‘people-person’, keen to network and work personally with his clients. “I may be lead partner, but I’ll still be very active in the field.”
That concerned and caring approach permeates the Reading office, he believes, creating a welcoming place to work – highlighted by low staff turnover. “Clients like dealing with the same advisers, and we can provide that.”
Brooker succeeds Julian Frost as head of BDO in the Thames Valley. Frost has relocated to London to lead BDO’s TMT practice. Brooker has worked in accountancy since qualifying in 1985. His career includes early years with Ernst & Young, a managing partner role with Moores Rowland, and a 10-year Institute of Directors non-executive directorship. He joined BDO in 2008.
Brooker’s 17-year personal experience and professional knowledge of the Thames Valley, is mirrored by the insightful BDO Thames Valley Business Barometer, now a valuable benchmark for local businesses. This collaboration, between BDO and the networking Twenties Club, also reflects BDO’s local involvement with relevant business bodies, initiatives and events.
The firm will host a Budget Review on March 21 and is staging ‘Going Global’ a technology-focused open forum at the Madejski Conference Centre on April 17.
BDO also retains close links with the Reading IoD branch, Thames Valley Chamber of Commerce Group and the work of Thames Valley Berkshire LEP.
Recently BDO Reading held a free seminar advising businesses on automatic pension enrolment. Understanding such new matters (Brooker also mentions RTI and fresh HMRC requirements) will be essential to businesses aiming to remain ready,
THE BUSINESS MAGAZINE – THAMES VALLEY – MARCH 2013
robust and successfully reactive in the challenging years ahead.
Brooker predicts four to five years of limited, not always steady, UK economic growth.
“Fortunately, most businesses accept that and are making the best of the situation. Whereas they were putting off decisions, they now realise that some matters have to be acted upon, and consequently they are replacing things and looking at potential acquisitions.” Brooker expects sector consolidation activity to increase.
And, few businesses are now unaware. “We are very lucky in the Thames Valley, and we have a number of businesses based here that are leaders in their field and doing very well. But, we are not typical of the rest of the UK.”
Gaining funding remains an issue, particularly for companies without robust and realistic business strategies. “Businesses struggling with this need to get professional help, need an experienced impartial overview. We can help get them to a position where they have a cohesive achievable business plan, and then introduce them to suitable funders.”
Details: Simon Brooker 0118-9254488 07785-277674
simon.brooker@
bdo.co.uk
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