Tenon to merge with RSM Bentley Jennison

The boards of Tenon Group plc and RSM Bentley Jennison have announced the proposed merger of the two accountancy firms, in what they claim represents ‘a major step to becoming the UK’s leading financial and business advisers’.

The practice will trade as RSM Tenon, which will rank seventh in its industry’s national league tables in terms of size. The company will employ nearly 3,000 members of UK staff and have a combined fee income in excess of £250 million. Under the RSM International branding, the firm will boast more than 700 offices in 76 countries, and over 30,000 employees.
 
Tenon’s CEO, Andy Raynor, will head the business following completion of the merger. He claimed the newly announced deal is ‘the beginning of a new era of opportunity and growth for our teams [that] provides us with an excellent platform from which to challenge traditional approaches to client focus and service delivery.

The national managing partner of RSM Bentley Jennison, Tony Stockdale, who will join the RSM Tenon board as an executive director, said the merger ‘benefits all stakeholders: the shareholders, both teams and most critically our respective clients’.

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