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RSM Ireland has announced a major strategic investment from RSM UK to “accelerate the firm’s growth and expand its market share”.
The investment will allow RSM Ireland to create at least 200 jobs in the next three years, doubling its current size.
It also includes RSM UK acquiring the ownership of the business from the current board comprising John Glennon, Aidan Byrne, Catherine Corcoran Gearty and Niall May.
Whilst RSM UK’s investment in RSM Ireland will strengthen the foundations of their collective ambition, the two firms will continue to operate as independent firms.
RSM Ireland’s leadership team will continue to be responsible for the development and management of the Irish firm.
The founding partners of RSM Ireland John Glennon, Catherine Corcoran Gearty and Aidan Byrne will remain in the firm in strategic leadership roles.
Niall May will succeed John Glennon as managing partner in January 2024 working with RSM UK to lead the current, growing team of 200 people across Ireland.
Glennon said: “This is an incredibly exciting day for RSM Ireland. This investment will enable us to accelerate our investment in Irish capabilities, deepen our service offerings and expertise, and expand the breadth of services we offer to our clients. It will also offer greater opportunities to our people to progress their careers and achieve their potential. This investment will enable us to accelerate both the scaling of our firm and our investment in Irish capabilities.
“In recent years, whilst experiencing the global pandemic, we have grown the firm sustainably and we are the only first-generation firm in the top 10. This investment from RSM UK is the latest step in the growth journey of RSM Ireland and will support our focus on being the advisers of choice to the middle market. It is a huge vote of confidence in our firm and the Irish economy. We believe it will strengthen our marketplace position, enabling us to develop a leadership position within the Irish middle market.”
Rob Donaldson, CEO for RSM UK, added: ‘This important investment marks a major statement of intent to accelerate growth and capture greater market share in Ireland. It also builds on our drive to become an ever more formidable competitor, both here in the UK and in Ireland.
“Both firms have achieved strong year-on-year growth – a robust financial performance that gives us the ability and confidence to keep investing in our future. I’m delighted and excited that via this strategic alignment we can harness the combined strength of both firms and the increased market access that brings, and in doing so expand the many benefits to our clients and our people.’
