Baldwins has announced its Birmingham branch has doubled in size since opening in late 2018.
The accountancy firm said that “much of the growth” was due to the introduction of the audit and assurance department, a financial due diligence team, and forensic specialists.
Its existing corporate finance, restructuring and insolvency, and tax teams have also increased staff numbers due to “increasing demand” for their services.
The restructuring and insolvency team generated a £1.2m turnover in 2019, while the forensic accounting team also generated over 40 fraud assignments in the same period.
The group also said its tax advisory services were “on the rise”, with seven new tax experts recruited to the Birmingham branch. Meanwhile, 19 recruits have recently joined the audit team, expanding the 120-strong audit client base that it currently serves. The team said it will “double” its workforce over the next 18 months.
The branch said it has now “laid multi-million-pound foundations” for further growth expected this year.
Ian Gould, regional managing partner for Baldwins in the West Midlands, said: “The performance of our Birmingham office in its first year shows why we wanted to develop a hub that offers all of the necessary services for both SME and larger businesses to thrive.
“Baldwins is rapidly expanding its footprint across the UK, and having a strong foothold in the second city where we can work closer with banking and legal markets is key to supporting this wider growth.”
He added: “We’ve had a successful first year developing our presence both locally and further afield, and are set for an even stronger year in 2020; particularly within our audit and tax departments which are experiencing exceptional demand both regionally and further afield.”
Shaun Knight, board director at Baldwins, added: “It’s been a phenomenal year for the Birmingham office and it’s great to see the progress being made in such a short space of time.
“We are establishing ourselves in the community and the team at the Birmingham office are doing a fantastic job at growing the business across all of our service offerings.”