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2010 the Year in Review 2010 The Year in Review 200 The Year in Review 2 “ By taking a measured, structured approach to growth, we are creating a strong, robust network that will deliver the best possible value for our clients.” Jean Stephens Chief Executive Officer 200 The Year in Review Introduction Going all out for growth They have it on their agenda, but we have not seen the results yet. At RSM International’s annual conference in Arizona last November, Every firm has a role to play. It will mean changes in your focus and my message was that we needed to be better, faster and stronger. in your investments. But we now have the infrastructure and the Our goal was to aim for growth and to start our journey with vigour resources in place. By working together to attract this new cadre of towards becoming the fifth largest global network of professional clients, the whole network will see the benefits. service firms. You will have read in RSM Eye about some of these exceptional So how have we done? new client wins for our member firms, where we have taken on our competitors and won. I hope our progress continues in earnest Well, I’m pleased to say that everyone has worked really hard to through 2011 and that you will see more and more news stories keep growth front of mind this year. All of our business development about outstanding client wins. activities have focused on the need to grow the international business between members. Strengthening our international network We are now getting the right structures in place to support our Over the past year, we have continued to strengthen our network in next phase of development. In turn, this will allow us to increase key regions, by taking on the following new member firms: Seiwa our business worldwide. But this will not happen overnight. It is a Audit Corporation in Japan; Ahmed Mansour & Associés in Tunisia; journey, and we have to take the right steps at the right time. By DLA Groupe in France; and ACAL Consultoria & Auditoria in Brazil. taking a measured, structured approach to growth, we are creating We also welcomed correspondent firms: Reads & Co Chartered a strong, robust network that will deliver the best possible value for Accountants in the Channel Islands; Al Mezan Bureau in Bahrain and our clients. George Mathew & Co in Oman. As you read on, you will recognise that RSM’s four cornerstones of Following firm mergers, RSM Belgium is now the sixth largest firm quality, business development, brand and people are evident in all in their country and RSM Tenon has become the seventh largest aspects of our activities this year. A ‘cornerstone’ is a person or accountancy firm in the UK. In Latin America, following a firm thing of prime importance and as such they have become built in to merger in Uruguay, Unity Asesores SRL has become a dominant our values, which in turn helps us to steer our activities along the mid-tier player. These progressive changes are evidence of firms right path for success. embracing change and doing what is required in their countries to attract, win and serve larger clients. We must now leverage the Targeting sophisticated international clients strength of each other, learn from each other and pursue all new If we are going to reach the no. 5 position, or even defend our avenues and opportunities to expand. existing position at no.6, we need to target large, sophisticated companies with an international reach. We are beginning to Working as a global team establish a reputation among clients that fit this profile, and it is As you will read later on, the regional leaders are in place and have gratifying to see that we are attracting increasing numbers of high- been very active throughout the year. We have been working as level international clients. a team to ensure all efforts are aligned and we are attempting to bring about changes faster and in a more structured fashion. My But it is still early days. Some firms have really stepped up to the thanks to each of these leaders for their commitment, support, challenge and are pushing hard to acquire larger international energy and dedication. We have a great team! clients. Others are still in the first stages of making the change. 200 The Year in Review 2 Regional Roundup The situation in Europe has been tough, firms have been working through a 00-day network, a real show of our strength in particularly in Greece, Ireland, Spain plan to build a strategic development the region, and the integration of the and Portugal, where the downturn has plan for the next three years, focused Chinese firm is going very well. By working coincided with internal issues to hit the on developing and winning cross-border closely with RSM Chio Lim in Singapore economies of these countries particularly business. Discussions have established and RSM Nelson Wheeler in Hong Kong, hard. Having said that, our members in the following needs: a clear focus on the firms are supporting each other and Europe are becoming more mature within knowing and understanding each other have an integrated and cohesive approach the European marketplace and are working better; building international business to serving clients in these three closely together much more effectively. In June through transitioning clients into the linked countries. RSM China is continuing I was delighted to welcome Robert Coles network; developing a common target list; to build relationships with other member as the new Regional Director for RSM focusing our efforts on particular sectors firms with a view to conducting more Europe. Robert has extensive experience and, finally, building our brand through up of business change, building client to date and consistent online presence, “ Our members in relationships and international membership coordinated PR campaigns. networks, and will have a dedicated focus All of these initiatives lead on from work Europe are becoming on developing international business within developed over many years. We are seeking the European region. to build an ever stronger European region, more mature within The European Conference, hosted by RSM contributing to our aspiration to be number Belgium in Brussels, was Robert’s starting five globally. the European point. Since then, he, the EOG and member On a less serious note, the European marketplace and are football tournament was reinstated and Highlights took place in London in October. It was a working together much huge success, with many mid-level staff • Sixth largest network of meeting each other for the first time, more effectively.” independent accounting and building relationships and trust. Member consulting firms in the world firms represented were France, UK, joint international business together. Hungary, Ireland, Germany and Norway. Delegations of partners from RSM China • Member and correspondent There was both a men’s and women’s have visited RSM member firms in the US firms in 80 countries league, with great standards of play and and countries in Europe, as well as visiting even a vuvuzela present! The Scottish RSM colleagues closer to home in Asia • 714 offices worldwide teams won in both leagues so well done Pacific. These relationships will prove vital to them! Watch this space for next year’s in the years to come. • Over 32,447 staff including competition! 3,105 partners The RSM Asia Pacific conference brought Our business in Asia Pacific continued to together many representatives from • Combined fee income of grow last year, showing double digit growth the region to Bali, Indonesia, where the US3.9bn for the main part. In 2008, we admitted host firm, RSM AAJ Associates, ensured the largest national firm in China to our their guests got the very most of their 200 The Year in Review attendance, enjoying both the work and He will disseminate information about the outcomes in an informal setting and to meet social activities. The conference successfully international network throughout the firm’s and greet the many clients of the host firm updated delegates and encouraged them service line and industry leaders – those who who were invited. to provide feedback on the development of are directly involved in servicing the clients RSM globally and within Asia Pacific. It was and give them the knowledge and resources evident from the sessions and discussions to promote international services. “ Most encouragingly, that RSM in Asia Pacific is an exciting place The RSM McGladrey International Office to be at the moment. We were also able to all the managing team, led by Frank Le Bihan, supports and congratulate staff from RSM AAJ Associates, works with member firms outside of the Suresh Surana/RSM Astute Consulting in partners expressed US ensuring that inbound and outbound India and RSM Chio Lim in Singapore on international client work is co-ordinated and their 25th anniversaries – an important the desire to meet as seamless as possible. They are the very milestone which shows their commitment important link between the US and other to providing quality professional services in more often.” member firms. their countries. The Middle East is a challenging and Meanwhile, business in Latin America has Africa has been an active area for fascinating region and one that I am very been steady following the global crisis. Bob business this year, showing an upward excited about. This year, regional meetings Burdett is now the first full-time dedicated trend for inquiries and opportunities and have taken place, in Dubai, UAE in April Regional Director for RSM Latin America, we are actively looking to expand our and in Amman, Jordan in September. Both with responsibility for developing RSM firms representation across the country.
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