The network announced today that it is expanding its professional services capability with the acquisition of two former Hayes Knight member firms, both of which have recently decided to leave the network. Hayes Knight announced its disbandment on Monday, citing a fractured business model and a misalignment of strategy.
The new firms will be rebranded as Nexia Brisbane and Nexia Melbourne.
Nexia Australia chairman Ian Stone said the two new state-based firms added 16 partners and 113 staff to the group and considerably strengthened the network’s capabilities in a number of key industry sectors.
“Nexia Australia’s international and national representation are key to our growth strategies as more and more clients demand a multi-disciplined, global approach to service their requirements,” said Mr Stone.
“With the addition of the new firms, Nexia Australia has added six senior audit partners to its existing large audit team and also boosted its industry capabilities in the independent schools, hospitality, not-for-profit and construction sectors,” he added.
Ken Robertson, who will head up Nexia Brisbane, said his seven-director firm had made the decision to move to Nexia Australia because there were many synergies and the ethos was a good fit.
“Nexia is a highly regarded global firm and, through our discussions, we were comfortable with its future direction,” he said.
Mr Robertson’s father, Richard, established the firm Robertsons 45 years ago, which then became Hayes Knight in 2007.
Paul Dal Bosco, who will move from Hayes Knight Melbourne to Nexia Melbourne with 10 partners, said Nexia’s international and national capabilities and strategic alignment were key to the decision to change.
“Australian companies are doing business at all points of the globe and the ability to tap into the worldwide resources of Nexia to help our clients was a key point,” Mr Dal Bosco said.
Nexia Melbourne and Nexia Brisbane will begin operating under the Nexia Australia umbrella from April.