RSM, a global network of audit, tax and consulting firms focused on the middle market, has reported record global revenues of $5.37 billion (€4.68 billion) for 2018, crowning five consecutive years of growth. The last year has seen the network collectively deliver on a strategy focused on RSM’s people, clients and future-led innovative thinking.
A year of growth has been spearheaded by an increase in the network’s consulting services, with revenues up 14.5 per cent on 2017. The introduction of GDPR, increased cross-border trade risk and the growing threat from cybercrime have all provided new opportunities to extend relationships with clients.
Elsewhere, tax advisory services have grown by six per cent while accounting services are up 13 per cent. In addition, international collaboration between member firms remains a core contributor to RSM’s growth, with cross-border client fees increasing 18 per cent.
“Last year was one of growth across our network, particularly for our rapidly expanding consulting services,” Jean Stephens, CEO of RSM International, said.
“Clients around the world looked to RSM for solutions based on a true understanding of their needs, solid expertise in their market and the agility to move quickly as the business landscape shifts. We will continue to focus on realising our global strategy and ensuring that RSM remains the leading adviser to the middle market, wherever we are in the world.”
In Europe, a region that welcomed Gregor Schmidt as its new regional leader in June, revenues grew by 12 per cent – more than double the growth achieved in 2017. The network achieved six per cent growth in North America with a total fee income of $3.4bn. In Canada, RSM saw rapid growth, adding new offices in Calgary, Edmonton and Red Deer.
RSM’s capabilities in Asia Pacific were strengthened with the addition of Huapu Tianjian Certified Public Accountants LLP in China, with a mandate for ambitious, acquisition-led growth. Elsewhere, there was consistent growth in Latin America, the Middle East and Africa.