9 Jul 2013 02:01pm

Grant Thornton acquires FS arm of Navigant

Grant Thornton has bought the UK financial services advisory arm of consultancy Navigant

The 45-strong Navigant team includes three new partners and nine directors. The team has a particular expertise in the retail financial services market and a the challenger banks. Globally, Navigant is a consulting firm with 2,400 employees. Its gloval revenues were $844m in 2012, of which $105m was EBITDA.

Scott Barnes, CEO of Grant Thornton UK, said, "We are delighted to welcome the newest members to our already successful financial services team, led by Peter Allen.

"Their expertise, coupled with the entrepreneurial and dynamic approach that they bring in the retail financial services market, perfectly complements our current offering.”

No details of the deal were disclosed.

It follows a year of consolidation in the industry, led by the merger of mid-tier firms BDO and PKF , with several smaller deals  inclduing wealth manager Bellpenny buying the IFA arms of several accountancy firms including Price Bailey.

The merger between MHA MacIntyre Hudson and accountancy practice Larkings was announced last week, as was a merger between Carter Backer Winter and tax specialist firm Blackstone Franks.

Helen Roxburgh


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