Two professional accounting organizations, MGI Worldwide and CPA Associates International (CPAAI), are planning to merge on Jan. 1, and will represent more than 250 accounting, tax and consulting firms in almost 100 countries.
MGI Worldwide is a global network of independent audit, tax, accounting and advisory firms, headquartered in the U.K., and CPAAI is headquartered in Glen Rock, N.J. The new organization will have revenues approaching $1 billion, placing it in 16th position in the current global accountancy network ranking.
MGI Worldwide and CPAAI have complementary cultures and client service philosophies, the organizations say. They were both formed more than 60 years ago and are well established and active in their markets. The combination offers clients access to more than 9,000 professionals with a wide range of specialists.
Clive Viegas Bennett, CEO of MGI Worldwide, says, “This merger greatly strengthens the already solid market positions of both organizations and enhances our global reach, knowledge base, member offerings and services to valued clients. Our new global and regional management team will provide the leadership to take the combined organization to greater levels of success. The shared goal is to help keep all members up to date on the latest technical and business developments, exchange business best practices and expertise, and deepen our strong regional structure.”
Michael Parness, president of CPAAI, states, “Clients remain at the heart of all members’ firms and their goals and objectives are always paramount. The merger ensures that they will have additional ‘trusted advisors’ to call on for the industry expertise and support they need – regardless of where they operate in the world.”
The new group will be co-chaired by Roger Isaacs, chairman of MGI Worldwide, and Jim Holmes, the international chairman of CPAAI. Bennett will serve as CEO with Parness as COO.