Article Abstract:
The accounting industry has undergone consolidation, and this can mean more business for smaller firms in cities such as Manchester, England. Smaller firms can aim at bigger deals that would previously only have been tackled by the big five accounting firms. Robson Rhodes is a Manchester company with special expertise in textiles and engineering, though this focus may be problematic if the indusries continue to face problems. Mid-tier consolidation may continue even if competition authorities limit consolidation among the biggest firms.
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Article Abstract:
Accounting firms involved in corporate finance in north west England are moving into areas such as major deals and advice to public limited companies which was previously only tackled by merchant banks. The major six UK accounting firms are present in the region, and Grant Thornton also operates there, ranking third, with KPMG and Coopers and Lybrand ahead. Garrett and Co, a law firm, has allied with Arthur Andersen to provide a service for major clients.
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Article Abstract:
KPMG has set up a public advisory team in the north of England which will give advice on stock issues, deal with disposals and acquisitions, sponsor stock flotations, and provide financial and strategic advice. Stockbkers and merchant banks argue that they can defend themselves from competition from accountants because they not only advise but can underwrite. Accountants will compete against each other since they are moving together into this market.
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