Raymond Doherty 12 Oct 2018 03:16pm

New chairman and management buyout for Haines Watts

The top 20 UK accountancy firm has appointed Darren Holdway as its new group chairman

Haines Watts has also announced a management buyout of its Leeds office, which is now incorporated into its North East and Yorkshire regions. Partners Donna Bulmer, James Sutton and Jonathan Scott purchased the office from Peter Bancroft, who is now retiring.

“Peter has done a fantastic job of building the Leeds office from the ground up, and we’re keen to develop it even further. At the heart of our plan is a focus on people and getting the very best out of our now 50 strong team,” said Bulmer.

New group chairman Holdway, who is based at Haines Watts' Birmingham office, joined the firm in 1989. He became a partner in 1996 and managing partner in 2000, according to an Insider Media report .

This year Haines Watts’ turnover increased 16% to £84m, its strongest performance over the last decade.

Growth was partly organic but the firm also went on an acquisition spree in 2017, buying up five different firms.

Profit per partner rose by 22%, bringing average partner income to above £250,000 for the first time.

In 2016, the firm, which is ranked the thirteenth largest in the UK, reported fee income of £74.5m, up 7.9%.