Accountancy firms Chantrey Vellacott and Moore Stephens to merge from May 1

Accountancy firms Moore Stephens and Chantrey Vellacott are to merge from May 1.

Accountancy firms Moore Stephens and Chantrey Vellacott are to merge from May 1. - Credit: PA

Mid-tier accountancy firm Chantrey Vellacott DFK LLP is to merge with Moore Stephens LLP.

The firms will use the Moore Stephens name and brand, with the combined partnership being a member of the Moore Stephens International network which has offices in 105 countries.

Moore Stephens is the UK’s 10th largest independent accounting and consulting network, comprising more than 1,300 partners and staff in 34 locations, including, in the East of England, Norwich and Peterborough.

Chantrey Vellacott is the UK’s 21st largest accountancy firm, with nine offices at locations including Colchester and Stevengage.

The combined firm will have total UK turnover of around £156million and more than 1,700 partners and staff.

Simon Gallagher, managing partner of Moore Stephens, said: “The merger provides a platform for continued, sustainable growth. There are real synergies, not just in terms of the services and sectors but a coming together of similar philosophies and values to form a strong combined firm.”

“The partners and staff are central to our strategy going forward. The merger provides genuine career and development opportunities through innovation, growth and financial success. It’s going to be a really exciting time for our people, and I’m sure this will translate into the service we provide to clients.”

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Mike Tovey, Chantrey Vellacott’s managing partner, said: “This provides an important strategic development for both firms.

“The combined firm will provide our clients with a broader range of expertise, along with an increased depth of sector knowledge and experience. Clients will also benefit from access to much wider UK and global capabilities through the Moore Stephens UK and international network.”

Richard Moore, senior partner at Moore Stephens and chairman of Moore Stephens International Limited, added: “The merger is a fantastic opportunity, not just for the two firms but the Moore Stephens International network, which will be stronger as a result.”

The merger is due to complete on May 1. Mr Gallagher will lead the amalgamated firm, with Mr Moore remaining as senior partner, and Mr Tovey will join the firm’s partnership executive committee.

The firms’ London offices will be consolidated into Moore Stephens’ existing headquarters at 150 Aldersgate Street over the coming months.