Hong Kong – Leading accounting firms BDO and Grant Thornton are pleased to announce that
their firms have agreed in principle to merge their businesses and practice in the name of
BDO Limited.
Patrick Rozario, CEO of Grant Thornton said, “Our partners believe that in line with the fast
expanding business of the Firm, the business opportunities in China and around the region, we
are joining a successful firm which has a solid reputation in the profession and great strength
in Hong Kong. BDO provides a well established structure and support, in particular with its
capabilities in China, for us to further develop our business. And, going forward, the enlarged
practice would be well placed to provide a stronger service platform in both Hong Kong and
China and further enhance our position in the market. We are very excited about this
opportunity and the potentials and benefits that this strategic move will bring to our clients,
staff and the accounting profession as a whole.”
Once all formalities are completed, the enlarged firm will have more than 1,000 staff with
over 50 partners and approximately 200 clients listed locally and overseas, and will maintain
its strong position as one of the top five accounting firms in Hong Kong. In view of the
market’s and regulators’ call for greater choice of quality accounting firms, this move by the
two major accounting firms in town will definitely help strengthen the accounting industry
and Hong Kong’s position as an international finance centre.
Albert Au, Chairman and CEO of BDO said, “This is a remarkable and rare opportunity that the
two largest mid-tier firms in Hong Kong could come together under one roof. Grant Thornton
has been operating since 1949 and is a hugely successful and reputable firm in Hong Kong.
We have a lot of respect for their partners and I believe that feeling is mutually reciprocated
by them as well. We share many common values – professionalism, integrity and commitment
to quality, to name a few.”
Albert Au continued, “BDO would clearly be the 5th largest accounting firm in Hong Kong and
we will be ready to challenge the larger firms in the market. We will continue to respond to
our clients’ needs and are committed to deliver services and expertise of the highest quality
to them. This, after all, is how we achieve sustainable growth and define success for
ourselves.”
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