Smith & Williamson completes merger with Dublin accountancy firm to double headcount and become top ten accountancy firm in Ireland.
Smith & Williamson today (Monday 1 October 2018) announced its merger with leading Dublin-based accountancy firm LHM Casey McGrath, doubling the size of our operations in Ireland, where we combine a top 10 accountancy firm with a leading independent wealth management operation.
The merger positions Smith & Williamson in the top tier of accountancy and financial services businesses in Ireland. It also achieves a key strategic objective for the Group of accelerating growth in the Irish market. Smith & Williamson and LHM Casey McGrath see this merger as a great opportunity to bring together a range of complimentary sectoral expertise that will enhance the offering we can deliver to our clients.
The deal will increase turnover to over €15 million (£13.5 million) per year in the Republic of Ireland and total group operating income to €300 million (£269 million).
Commenting on today’s announcement, Smith & Williamson Co-Chief Executive, Kevin Stopps, said: “This merger underlines our commitment and scale in Ireland – where we combine a top 10 accountancy firm with a leading independent wealth management operation - by significantly enhancing our offering in business and personal tax, assurance and advisory services. The deal fully supports our long-term strategic growth ambitions and also strengthens our presence in an important EU territory in advance of Brexit to ensure that we are well-placed to service our clients.”
Smith & Williamson’s Dublin Professional Services Managing Director, Paul Wyse, said: “Today’s announcement is the culmination of many months of engagement with a firm that shares our vision and values in providing the highest quality professional services to clients. The team at LHM Casey McGrath is an excellent fit with our strategy in order to enable growth, improve our service offering and meet the needs of clients through a diverse range of professional services.”
“Our clients will have access to a fully comprehensive and integrated range of business services and a larger team of specialist advisers. Clients will also continue to receive the very highest standards of client service and advice.”
Welcoming the news, Damien Kealy, Managing Partner of LHM Casey McGrath, said: “While we are very proud of the history of our firm and the achievements of our people, we also recognise the significant benefits that the wider range of accountancy and investment management services which Smith & Williamson can provide to our clients and their businesses. This is an exciting opportunity for our people, our clients and our firm and one that allows us to continue to achieve our growth ambitions and those of our clients.”
From a practical perspective, you will continue to receive the highest standards of client service and advice and you will continue to work with the same partners and staff you currently know and trust. You will also have access to a wider range of business services and a larger pool of expert advisers. This move underlines our commitment and scale in Ireland, where we are now a top 10 accountancy firm. This merger enhances significantly our offering in business and personal tax, assurance and advisory services.
We are a people business and the success of our firm is based on the strength of our client relationships and the quality of our staff and partners. We pride ourselves on providing a single point of contact for our clients and on ensuring that they are always able to reach senior staff and decision-makers whenever they need to.
Find out more about the services we can offer and the people who have joined the team:
New Sectors and Service
New Partners and Associate Directors
Smith & Williamson ranks as the eighth largest firm of accountants in the UK and was awarded ‘Large Firm of the Year’ in 2018 by Accountancy Age magazine. Our investment management business has over €22 billion (£20 billion) funds under management and advice, making it one of the largest private client investment managers in the UK. In Ireland, we have over €535 million (£477 million) funds under management.
Smith & Williamson first entered the Irish market in 2008 through the establishment of an accountancy division, following a merger with Oliver Freaney & Co, itself one of Ireland’s leading firms of chartered accountants and business and tax advisors since 1958.
LHM Casey McGrath was founded in 2004 as an accountancy and financial services firm, employing 56 staff with fee income of circa €5 million (£4.5 million) in 2017/18. Its services cover audit, assurance, accounting, taxation, business outsourcing, advisory and consultancy.
Paul Wyse, Managing Director, Dublin
+353 (0)1 614 2500
Damien Kealy, Head of Assurance & Business Services, Dublin
+353 (0)1 614 2500