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Moore Stephens will be joining forces with a rival mid-tier firm to fill the void left by the recent defection of its Adelaide-based business advisory team.
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Moore Stephens announces merger with mid-tier rival
09 March 2016
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From 1 April, Hayes Knight South Australia and Northern Territory will be joining the Moore Stephens network as the new representatives of the respective locations.
The Hayes Knight firms, soon to be rebranded as Moore Stephens South Australia and Northern Territory respectively, have eight directors, more than 40 staff and total revenue of $8 million.
Don Boyd, Moore Stephens Australia’s executive chairman, stated: "To meet the growing demand of the market and our clients’ needs, Moore Stephens have made the decision to increase their presence and capability in South Australia and Northern Territory with new and experienced teams."
Grant Miles, CEO of Hayes Knight South Australia and Northern Territory, commented: "The partners of our firm recognise that our clients and the market require a set of expertise and reach that we can now meet via our connection to the Moore Stephens international network."
The announcement follows the decision of the Moore Stephens Adelaide business advisory team to defect to Bentleys SA from 1 April, with the latter seeking to reinforce the firm’s local and international strategic and contemporary advisory offering.
Moore Stephens has also recently lost its Canberra office, with ACT-based Synergy Group acquiring the office in a deal announced late last year. The firm has also lost a high-profile tax specialist in Andrew Lam to rival mid-tier Hills Roger Spencer Steer.
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Moore Stephens has also lost its Sydney office to Pitcher Partners and Melbourne firm to Chinese giants Shine Wing.
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