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Baker Tilly International has reported record global revenues of $5.2bn (£4.1bn) for the year ending December 2023, spelling an increase of 11% on the previous year.
The news comes as the firm has been consistently expanding, having grown by almost 30% since 2020 despite “significant” volatility in global markets over the period.
There was an expansion in all regions across the firm’s network during 2023, with Europe being the fastest-growing region at 17%.
Among the larger markets in 2023 – with more than 15% growth – were Austria, Belgium, the Channel Islands, Greece, Luxembourg, Mexico, Netherlands, Singapore, South Korea, Turkey, the UK and the USA.
All of Baker Tilly’s service lines saw double-digit growth. However, advisory was the fastest-growing at 12.3%, followed by tax at 12%, and assurance and accounting at 10%.
In addition, the firm’s headcount rose by 4.5% globally to 43,000 with 3,380 partners worldwide. The proportion of female partners in the network also reached an all-time high of 24.4% by the end of 2023.
Francesca Lagerberg, CEO of Baker Tilly International, said: “Double-digit, like-for-like revenue growth, with only a modest increase in headcount and in such a volatile market, is an incredible achievement and I am grateful for the hard work of all of our 43,000 people who made it possible.
“Winning the 2023 ‘Accounting Network of the Year’ award confirmed what a distinctive and vibrant brand Baker Tilly has become internationally. Our strength, resilience and expertise have never been more important for our clients as we help them navigate these uncertain times in many parts of the world.”
She added: “We look forward to another successful year in 2024 with great expectations and confidence in our renewed strategy and purpose, as well as our broad multidisciplinary offering across all our service lines. It promises to be an exciting next 12 months.”
