RSM McGladrey has entered into an agreement with Munich-based RSM Hemmelrath Gruppe, to create international tax consulting firm RSM McGladrey U.K. Ltd.
Financial terms of the deal, which should be completed in July, were not disclosed.
RSM McGladrey U.K. will provide the foundation for the global firm's international tax and cross-border transaction support business in seven European countries and China. RSM McGladrey and RSM International, a network of independent member firms, have been working to provide financial services to clients around the globe.
"Our aim is to have high caliber tax, law and financial specialists in major countries outside of the United States to offer our clients a multidisciplinary service approach," said RSM McGladrey president Steve Tait, in a statement. "Establishing RSM McGladrey U.K. marks the first step toward that goal."
RSM McGladrey U.K. will employ the tax, law and financial professionals of RSM Hemmelrath Gruppe already operating in Germany, the United Kingdom, Russia, mainland China, Poland, Hungary, Romania and the Czech Republic. The chief executive of Hemmelrath Gruppe, Alexander Hemmelrath, will be appointed the executive managing director of RSM McGladrey U.K
The expansion is the first outside the United States for McGladrey, an H&R Block Inc. subsidiary that ranked No. 6 on Accounting Today's 2006 list of Top 100 Firms, with revenues of $1.2 billion.
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