RSM Tenon London office shuts

All three hundred staff and partners from the former Tenon office in Chiltern Street, near London’s West End, will move to Baker Tilly’s City premises in Farringdon this week.

David Gwilliam, Baker Tilly’s regional managing partner for London, said, “Integrating our London offices will mean we combine our strengths and skills to significantly enhance our offering within the London region.

“This move is the first of around a dozen office consolidations throughout the UK over the coming months, and marks an important step towards creating one firm dedicated to the delivery of high-quality professional services and exceptional client service.”

Baker Tilly acquired RSM Tenon in a pre-pack in late August, ending weeks of speculation. The new firm is now the seventh largest accountancy firm in the UK with annual revenues of £350m, and over 4,000 partners and staff working across more than 50 offices.

Baker Tilly made its formal approach to Tenon in mid April with the news becoming public at the end of July. The deal was finally announced on 22 August giving the two firms just over three months to resolve a deal. At the time Tenon was managing debt of £80m.

In its latest end of year results Baker Tilly International announced annual revenues for the year to 30 June 2013 up 3%.

The consolidation of Baker Tilly's offices follows a KPMG announcement last August that it wasconsolidating all of its London staff in its Canary Wharf base from 2015.

Raymond Doherty

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