Moore Stephens Melbourne will join China-based network ShineWing.
Moore Stephens Melbourne managing partner Marco Carlei said he believes the move will provide significant advantages for the Melbourne firm's clients and employees.
"We will not only continue to offer our existing and prospective clients the service and support they have come to expect from us in Australia, Europe and North America, we will now be in a better position to provide that same level of service in Asia, in particular China,” he said.
“While this move is all about enabling growth, opportunity and success for our clients and our staff, it is bold, it is a differentiator, which is required in an increasingly competitive market.”
Don Boyd, Moore Stephens Australia’s executive chairman, said he wished the Melbourne firm well as it joins the rival network.
“The Melbourne firm has provided an invaluable contribution to the success of the Moore Stephens network in Australia and we wish it every success in its future endeavours,” he said.
Mr Boyd told Accountants Daily that despite the Melbourne defection, Moore Stephens Australia will continue to operate in the market, hinting that the firm is looking to establish a new Melbourne office.
“We have an ongoing presence in Melbourne and will be looking at how we deal with Melbourne’s departure,” he said.
“In the short term, we have our other offices nationally, there are four offices in Australia and 667 globally that can provide support in the meantime. Certainly, our plan is to expand in Melbourne and continue to look for growth opportunities.”