Grant Thornton International welcomes the merger of BDO Cape and Grant Thornton South Africa

17 June 2010
Grant Thornton South Africa and BDO Cape (comprising offices in Cape Town and Port Elizabeth) are to merge under the Grant Thornton name. The offices will have joint managing partners in Ian Scott and Neil Miller with Deryck Woolley and James Salmon as joint senior partners. Other BDO offices in South Africa are not involved in this merger.

Ed Nusbaum, chief executive officer of Grant Thornton International, explains, "This merger is a major accomplishment for our South African firm and we are committed to building a strong local firm in this key strategic market."

Leonard Brehm, national chairman of Grant Thornton South Africa, said, "It's a dream strategic and cultural fit for our business and a major step in our South African strategic growth plans. Adding BDO Cape's 207 staff complement and 19 partners and directors is a boon to clients of both firms as it enhances our joint intellectual and technical expertise - the combined Grant Thornton South Africa firm will now have revenues of R400 million (US$52 million)."

"It's an incredibly exciting opportunity to work with a like minded and truly global organisation, says Ian Scott, managing partner of BDO Cape. "Combining BDO Cape's strong market position with Grant Thornton's established name and intellectual property merges the relative strengths of each firm. Both practices share a focus on privately held business and believe in client proximity and personal partner attention as a differentiating approach. The needs of clients, staff and other stakeholders have guided this process throughout."

Leonard Brehm concludes, "Grant Thornton continues to build critical mass. We welcome the opportunity to work with our new colleagues and we look forward to giving our clients an unparalleled offering."

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