South: Mid-tier accountants Chantrey Vellacott DFK to merge with Moore Stephens

By TBM Team

13 April 2015

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Chantrey Vellacott, which has offices in Reading, is to merge with Moore Stephens, effective from May 1.
The firms, which together have been providing services for more than 330 years, will use the Moore Stephens name and brand. The combined partnership will become members of the Moore Stephens International network, which has a turnover of $2.7 billion and offices in 103 countries.
“The merger provides a platform for continued, sustainable growth,” explained Simon Gallagher, managing partner of Moore Stephens. “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 primary focus will be to provide services to owner-managed and global businesses across a broad range of sectors, including both domestic and international private clients.
“This provides an important strategic development for both firms,” said Mike Tovey, Chantrey Vellacott’s managing partner. “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.”
Gallagher said he believed the firms’ people would make the merger a success. “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.”
Moore Stephens’ senior partner and chairman of Moore Stephens International, Richard Moore, 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 will complete on May 1, at which point the combined partnership will begin trading as Moore Stephens LLP, with the London offices consolidating into 150 Aldersgate Street over the coming months. Current Moore Stephens managing partner Gallagher will lead the amalgamated firm, with Richard Moore remaining as senior partner. Chantrey Vellacott’s managing partner Tovey will be joining the firm’s partnership executive committee.