Hong Kong BDO And Grant Thornton In Merger Talks

BDO and Grant Thornton plan to combine forces under the name of BDO Limited.

Once all formalities are completed, the combined firm will employ 1,000 staff and 50 partners and service 200 clients listed locally and overseas. It will be in a position of strength, being counted as one of the top five accounting firms in Hong Kong. This move by the two major accounting firms is intended to strengthen the accounting industry in view of the market’s and regulators’ call for greater choice of quality in accounting firms, and preserve Hong Kong’s leading position as an international finance center.

BDO Limited Hong Kong is a member firm of the international BDO network. BDO Limited was established in Hong Kong in 1981, and has 700 professionals and 30 partners providing assurance services, specialist advisory services, risk advisory services, tax services and business services.

Patrick Rozario, CEO of GT says, “Our partners believe that in line with the fast expanding business of the Firm, the business opportunities in China and around the region, we are joining a successful firm which has a solid reputation in the profession and great strength in Hong Kong. BDO provides a well established structure and support, in particular with its capabilities in China, for us to further develop our business. And, going forward, the enlarged practice would be well placed to provide a stronger service platform in both Hong Kong and China and further enhance our position in the market.”

Albert Au, Chairman and CEO of BDO shared, “This is a remarkable and rare opportunity that the two largest mid-tier firms in Hong Kong could come together under one roof. Grant Thornton has been operating since 1949 and is a hugely successful and reputable firm in Hong Kong….BDO would clearly be the 5th largest accounting firm in Hong Kong and we will be ready to challenge the larger firms in the market.”