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RSM UK
RSM UK
RSM UK
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RSM UK is a provider of audit, tax, and consulting services to middle-market businesses. It is the seventh-largest business advisory firm in the United Kingdom and the sixth-largest globally.[2]

Key Information

The firm offers audit and assurance, risk advisory, outsourcing, tax, consulting, restructuring, transactions, and legal services. RSM works with a wide range of public, private, and not for profit companies.

History

[edit]

The firm was founded in 1865 by Walter Howard. Historical name changes and mergers with many different firms have brought the partnership to where it is today. The name Baker Tilly was created in 1988 through the merger between Howard Tilly and Baker Rooke.

The firm continued to grow through several mergers, including the purchase of the trading subsidiaries of RSM Tenon Group in September 2013.[3] Following the purchase of RSM Tenon in April 2014, Baker Tilly became a member firm of RSM Global having served notice on Baker Tilly International, the international network to which it previously belonged.

The firm changed its name on 26 October 2015, adopting RSM as the common brand name for more than one hundred firms within the RSM International network.[4]

References

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RSM UK

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from Grokipedia
RSM UK is a prominent firm specializing in , , and consulting for middle-market businesses in the . Established in 1988 through the merger of Howard Tilly and Baker Rooke, the firm originally operated under the name Baker Tilly before rebranding to RSM in to align with its global network. As a key member of —the sixth-largest network of independent , , and consulting firms worldwide—RSM UK benefits from a collaborative structure spanning over 65,000 professionals across 120 countries. With more than 5,400 partners and staff operating from 29 offices throughout the , the firm reported record annual revenues of £543 million for the financial year ended 31 March 2024, reflecting an approximately 12% year-on-year increase driven by growth in advisory and consulting services. On 23 October 2025, partners of RSM UK and approved a transatlantic partnership effective 1 January 2026 (pending regulatory approval), uniting operations across the , , , , , and under centralized governance while remaining independent members of , with approximately 23,000 professionals and US$5 billion in aggregate annual revenue, enhancing capabilities for cross-border client services. The firm serves a diverse clientele, including public and private companies as well as not-for-profit organizations, with a focus on sectors such as , , , and healthcare, emphasizing tailored strategies for business growth, , and . RSM UK's commitment to is evident in its investments in , sustainability advisory, and outsourced solutions, positioning it as a forward-thinking partner for mid-sized enterprises navigating complex economic landscapes.

History

Origins as Baker Tilly (1865–1988)

The origins of what would become RSM UK trace back to 1870, when Walter Howard established an accounting practice in focused on and financial advisory services for businesses. This firm laid the groundwork for a professional services entity amid the rapid industrialization of Victorian , where demand for reliable financial record-keeping grew alongside expanding commerce and trade. Throughout the late 19th and early 20th centuries, the practice evolved through a series of partnerships and name changes that reflected its steady growth and adaptation to the emerging profession. Beginning as Howard, Craggs & Co. in 1878, it progressed to Howard, Howes & Co. in 1887, Howard, Howes & Walters in 1891, Howard Brothers & Howes in 1895, Howard, Howes & Gooderson in 1901, and ultimately Howard, Howes & Co. in 1909, before becoming Howard Tilly & Co. Key developments included expansion into services, driven by the UK's Companies Acts of 1844 and 1862, which mandated financial audits for incorporated entities, and into advisory as reforms and fiscal complexities increased post-1870. These services positioned the firm as a comprehensive advisor to growing enterprises, with organic expansion supported by the professionalization of accountancy through bodies like the Institute of Chartered Accountants in , founded in 1880. In 1988, Howard Tilly & Co. merged with Baker Rooke—a firm established in 1901 with roots in earlier practices like Baker, Rooke & Co. formed in 1966—to create Baker Tilly. The merger was motivated by the desire to combine the complementary strengths, client bases, and regional expertise of both firms, enabling enhanced service capabilities and a stronger competitive position in the UK market during a period of consolidation among mid-tier accountancy practices. Post-merger, Baker Tilly operated as a unified with integrated operations across and regional offices, initially comprising around 50 partners and staff, focused on , , and advisory for small to medium-sized enterprises.

Expansion through mergers (1988–2014)

Following the formation of Baker Tilly in 1988 through the merger of Howard Tilly and Baker Rooke, the firm embarked on a strategy of aggressive expansion via acquisitions and mergers to strengthen its national footprint across the . Over the subsequent 25 years, Baker Tilly executed five mergers of national significance and 27 regional and local mergers, enabling it to grow from a mid-sized player into one of the 's top accountancy firms with enhanced capabilities in , , and advisory services. These moves focused on integrating complementary practices, expanding geographic coverage, and bolstering expertise in key sectors, thereby positioning the firm to serve a broader client base of SMEs and larger enterprises nationwide. A pivotal transaction occurred in September 2013 when Baker Tilly acquired the profitable trading subsidiaries of RSM Tenon Group plc in a pre-pack administration deal valued at £30 million. RSM Tenon had faced severe financial distress, including a breach of banking covenants and the withdrawal of financing facilities by its primary lender, , which exposed the firm to over £79 million in debt and led to its . The acquisition, which included RSM Tenon Ltd and entities operating under the RSM Tenon brand such as Investment Solutions, preserved approximately 2,300 jobs across 35 offices and allowed the acquired operations to continue trading temporarily under their existing name before full integration into Baker Tilly. Strategically, the deal was motivated by the opportunity to combine Baker Tilly's strengths with RSM Tenon's established client relationships and specialized services in corporate recovery and financial advisory, accelerating national growth and elevating fee income to over £300 million while creating a combined entity with more than 3,500 staff. In April 2014, Baker Tilly UK formally became the UK member firm of (previously known as RSM Global), marking a significant step toward global alignment after serving a notice period with the network. This transition was driven by the need to better support international client demands and align with RSM's growth objectives, given the cultural and values-based compatibility between the firms. Initial benefits included enhanced resource sharing across RSM's network in regions such as , , , , and the , enabling improved service delivery, knowledge exchange, and expanded opportunities for cross-border advisory to Baker Tilly's clients.

Rebranding and integration with RSM International (2015–present)

In 2014, Baker Tilly had joined as its UK member firm, setting the stage for deeper alignment with the global network. On October 26, 2015, the firm rebranded from Baker Tilly to RSM UK, adopting the unified "RSM" name across all member firms worldwide as part of 's strategy to enhance global consistency and client recognition. This move did not alter the independent legal status of member firms but aimed to streamline international operations and foster a cohesive identity for serving multinational clients. Post-rebranding, RSM UK pursued key integrations to bolster its regional presence. In January 2017, it merged with RSM (formerly RSM McClure Watters) and the Cambridge-based consulting firm PACEC Limited, incorporating all 70 staff from these entities and expanding its workforce to nearly 4,000. This merger enhanced RSM UK's advisory capabilities in and added specialized consulting expertise without disrupting ongoing services. Leadership transitioned in April 2020 with the appointment of Rob Donaldson as CEO, succeeding the previous executive team amid a period of strategic consolidation. More recently, in October 2024, RSM UK and RSM US announced plans for a transatlantic partnership to deliver integrated cross-border services for middle-market clients, which received near-unanimous partner approval on October 23, 2025, and will take effect January 1, 2026. This partner-owned multinational structure, encompassing RSM Canada and RSM Ireland, will unite over 23,000 professionals to address complex global needs while maintaining firm independence.

Services

Audit and assurance

RSM UK's audit and assurance services primarily focus on providing compliance and financial reporting solutions for middle-market businesses in the . Core offerings include statutory audits, which follow a structured five-step process to deliver audited and strategic insights into performance and risks. is another key service, supporting transactions by analyzing financial data to identify risks and opportunities, often integrated with strategies. support is available through co-sourced or outsourced models, employing a risk-based approach to assess strategic, operational, and financial controls, thereby enhancing resilience and aligning with objectives. In addition to traditional audits, RSM UK provides specialized assurance services such as sustainability reporting and IT audits, customized for sectors including manufacturing and real estate. Sustainability assurance helps clients comply with frameworks like the Corporate Sustainability Reporting Directive (CSRD), offering limited assurance on ESG disclosures to build stakeholder trust and mitigate greenwashing risks. IT audits evaluate technology infrastructure, controls, and compliance, utilizing tools like automation and data analytics to ensure secure and efficient operations amid digital transformation. These services leverage advanced technologies, including AI and Robotics Process Automation (RPA), to improve audit precision and efficiency. These and assurance capabilities contribute significantly to RSM 's position as the seventh largest accountancy firm, with revenue forming a substantial portion of its overall fee income. By emphasizing tailored, technology-enabled audits, the firm supports middle-market clients in maintaining while gaining actionable insights for growth.

Tax advisory and consulting

RSM 's advisory and consulting services provide strategic guidance to middle-market businesses and high-net-worth individuals, emphasizing compliance, minimization, and growth optimization through tailored and support. The firm's specialists offer comprehensive , helping clients navigate complex regulations to develop strategies that preserve assets and enhance efficiencies. This includes advice on and proactive to align with evolving legislation, ensuring businesses remain compliant while maximizing financial opportunities. In the realm of international tax, RSM UK delivers full-spectrum support for cross-border operations, including the design and implementation of transfer pricing policies, entity selection for global expansion, and assistance with tax registrations and payroll in over 120 jurisdictions. The firm addresses post-Brexit challenges by advising on export compliance through the Customs Declaration Service (CDS), ensuring accurate Goods Vehicle Movement Service (GVMS) processes to secure VAT zero-rating, excise duty drawbacks, and customs duty discharges, thereby protecting cashflow and avoiding penalties from invalidated declarations. VAT advisory services focus on minimizing liabilities in indirect taxes, providing guidance on complex environments to reduce risks and support regulatory adherence, particularly for businesses affected by Brexit-related changes. For high-net-worth individuals, RSM UK's private client and family wealth services offer personalized planning, covering compliance via annual self-assessment support, strategies to minimize liabilities on asset disposals, and (IHT) planning to protect intergenerational wealth. These services integrate with broader business advisory offerings, such as outsourcing for and , where RSM manages compliance and reporting through technology-driven solutions like managed services and global compliance management, allowing clients to focus on core operations. Sector-specific strategies cater to firms with fund services, transaction advice, and portfolio company support, while not-for-profits receive tailored and consulting to handle charity finance, , and trading profit exemptions. This middle-market orientation ensures integrated, forward-looking advice that complements services for holistic .

Risk, restructuring, and corporate finance

RSM UK's advisory services encompass a range of specialized offerings designed to help organizations identify, assess, and mitigate potential threats, including cybersecurity assessments, investigations, and compliance risks. The firm's assurance team conducts vulnerability testing on internal and external networks to minimize cyber and data risks, enabling clients to build operational resilience and navigate regulatory demands such as GDPR. In addition, RSM provides services through its forensic experts, who deliver proactive prevention strategies, policy development, and independent investigations into financial misconduct, corruption, and employee irregularities. For compliance, the team supports firms with gap analyses, assurance reviews, and adherence to frameworks like the FCA and PRA handbooks, helping to manage prudential, conduct, and risks while minimizing regulatory scrutiny. The firm's services focus on supporting businesses in financial distress through processes, turnaround strategies, and advice. RSM's advisory team offers rapid assessments and practical solutions to preserve stakeholder value, including for proceedings involving lenders, trustees, and . Turnaround strategies emphasize pragmatic, deliverable plans tailored to sector-specific challenges, such as those arising from economic shifts, to optimize recovery outcomes. solutions include portfolio risk monitoring and recovery support for businesses seeking to resolve debts from corporate customers, ensuring efficient navigation of complex stakeholder dynamics. RSM UK's offerings provide deal advisory across (M&A), valuations, and capital raising, with a strong emphasis on mid-market transactions. The deal services team delivers end-to-end support for entrepreneurs, corporates, and investors, including buy-side and sell-side M&A advice, , and to facilitate smooth transaction lifecycles. Valuations services help enhance pre- and post-transaction, while capital raising assistance covers investments, financing, and public market options to meet needs. These services target mid-market deals, offering specialized support for divestments, carve-outs, and special situations to drive strategic growth.

Organization and operations

Leadership and governance

RSM UK operates as a (LLP), with ownership vested in its partners through the RSM UK Partner Benefit Trust (PBT), ensuring that decision-making emphasizes partner input and long-term stability. The firm's complies with the Wates Corporate Governance Principles, featuring a board that oversees strategic direction and includes an , Nomination Committee, and Partner Remuneration Committee. The National Leadership Team (NLT), which manages day-to-day operations under board delegation, comprises key executives such as the , , Senior Partner, , Head of People, Head of Brand, and service line leaders for , , and consulting. Rob Donaldson serves as , appointed in April 2020 following a leadership transition that aligned with the firm's growth strategy post-rebranding. With nearly 30 years in , including prior roles at in , Donaldson led RSM UK's national corporate finance and restructuring advisory businesses for 20 years before his CEO appointment. He was re-elected for a second four-year term starting April 2024, limited to a maximum of two terms as per partner election processes. John Taylor holds the position of Senior Partner and , overseeing strategy and delivery across risk, consulting, employer services, VAT, , and advisory functions as a core member of the NLT. The board structure supports partner ownership by including the CEO, , up to two partner appointees, three non-executive directors, and two partner-elected members, convening six full meetings annually plus ad-hoc sessions. In 2022, RSM UK's management executed a buyout of shares held by former partners, enabling retired shareholders to exit while consolidating control under active partners and enhancing governance stability. This move, part of broader reforms including Project Tempest, resulted in 100% partner ownership via the PBT by 2023, reinforcing the LLP's focus on partner-led decision-making without external equity influences.

Office network and workforce

RSM UK's headquarters is located at 25 Farringdon Street in , serving as the central hub for its operations across the . The firm maintains a network of 29 offices nationwide, enabling localized service delivery to clients in various regions. Major locations include Birmingham, , and , alongside regional hubs such as and , which support specialized advisory needs in sectors like energy and public services. The workforce comprises approximately 5,400 partners and staff as of 2025, reflecting steady growth driven by strategic expansions. RSM UK emphasizes diversity and inclusion through initiatives like Respect Networks, which foster employee resource groups, and an annual calendar of learning opportunities to promote awareness and equity. Training programs are integral to , offering tailored support in technical skills, , and personal growth to empower staff career progression. In terms of operational scale, RSM UK ranks as the seventh-largest advisory firm in the by annual turnover of £543 million for the year ending March 2024. Globally, its parent network, , stands as the sixth-largest by revenue, exceeding $10 billion in 2024.

Global context

Affiliation with RSM International

RSM International, founded in 1964 as a network of independent accounting firms, underwent a global rebranding to simply "RSM" in 2015 to unify its identity across member firms. Today, it comprises over 65,000 professionals operating in more than 120 countries and 900 offices worldwide, ranking as the sixth-largest network of assurance, tax, and consulting firms globally. RSM UK joined the network in 2014 as its UK member firm, following the integration of Baker Tilly UK. As a leading member of , RSM UK contributes significantly to the network's focus on middle-market clients by delivering integrated , , and consulting services with a strong emphasis on global capabilities. This involvement enables RSM UK to support clients with international operations, leveraging the network's collective expertise to address complex cross-border needs in sectors such as , , and . The firm's participation enhances the network's overall service depth, particularly for mid-sized enterprises seeking scalable solutions beyond domestic boundaries. The affiliation operates under a non-exclusive alliance model, where member firms remain legally independent but collaborate through shared resources, knowledge platforms, and standardized methodologies. This structure provides RSM UK with access to cross-border expertise, including specialized industry insights and coordinated service delivery, allowing it to offer seamless support to multinational clients without the constraints of a fully merged entity. Such benefits foster innovation in areas like and , strengthening RSM UK's competitive position in the UK market while contributing to the global network's growth.

Transatlantic partnership with RSM US

In October 2024, RSM UK and announced their intent to form a transatlantic partnership aimed at enhancing cross-border services for middle-market clients. This initiative built on their existing collaboration within the network, seeking to create a more integrated structure without merging the firms legally. By October 2025, partners from both firms approved the partnership with near-unanimous votes, paving the way for its official launch on January 1, 2026. The partnership establishes a partner-owned multinational with centralized , encompassing RSM entities in the , , , and . While each firm retains its independence as separate legal entities and members of the network, the structure introduces aligned financial incentives, shared client service protocols, and collaborative operations across additional locations including and . This setup forms a to oversee strategic decisions, enabling bolder investments in technology, talent development, and global expansion. At inception, the partnership unites approximately 23,000 professionals and generates aggregate revenues of $5 billion (approximately £3.75 billion), positioning it as a significant player in the and advisory sector. Key benefits include seamless delivery of integrated services such as , , and consulting across borders, which addresses the growing complexity of international business for middle-market clients. It also fosters enhanced talent mobility and opportunities, while avoiding reliance on to maintain partner control. Looking ahead, the partnership targets scaling to a $10 billion platform through organic growth and potential further affiliations, strengthening RSM's competitive edge against larger global rivals. This transatlantic alignment is expected to accelerate innovation in areas like AI-driven advisory and , ultimately delivering greater value to clients navigating geopolitical and economic uncertainties.

References

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