RSM’s global network has reported record global revenues of $5.37bn(£4.1bn) for 2018, up 5.4% on the previous year and marking five consecutive years of growth, driven in part by an increase in demand for consulting services
Revenues from consulting services were up 14.5% on 2017, with RSM citing the introduction of GDPR, increased cross-border trade risk and the growing threat from cybercrime as sources of new opportunities.
Tax advisory services grew by 6%, while accounting services were up 13%. In addition, international collaboration between member firms remains a core contributor to RSM’s growth, with cross-border client fees increasing 18%.
In Europe revenues grew by 12%, more than double the growth achieved in 2017, and twice the network’s 6% growth in North America. Elsewhere, RSM said there was consistent growth in Latin America (8%), the Middle East (4%) and Africa (2%).
Jean Stephens, CEO of RSM International said: ‘2018 was a year of growth across our network, particularly for our rapidly expanding consulting services. Clients around the world looked to RSM for solutions based on a true understanding of their needs, solid expertise in their market and the agility to move quickly as the business landscape shifts.
‘We will continue to focus on realising our global strategy and ensuring that RSM remains the leading adviser to the middle market, wherever we are in the world.’
Report by Pat Sweet