Merging of RSM Richter LLP with Ernst & Young will bring combined
resources to Canada's entrepreneurs
TORONTO, Nov. 8, 2011 /CNW/ - Ernst & Young has signed a letter of
intent with RSM Richter LLP that will see their Toronto audit, tax and
transaction advisory practices, and Calgary restructuring practice,
merge with our firm. The transaction will grow Ernst & Young's Toronto
and Calgary offices, and enhance the firm's existing Entrepreneurial
"RSM Richter LLP has a long legacy of providing exceptional service to
their clients - particularly those in the entrepreneurial and
private-company space," says Trent Henry, Ernst & Young Chairman and
CEO in Canada. "Their seasoned audit, tax and transaction advisory
professionals in Toronto, and highly regarded restructuring group in
Calgary, will work with ours as a powerful team. Together, we will help
Canadian entrepreneurs evolve, grow and continue to stand out here, and
around the world."
At the core of this transaction is both firms' common belief in the
power of the entrepreneur to propel the economy forward. An Ernst &
Young report released last week shows entrepreneurs require support and
resources from governments and other stakeholders to truly make an
Entrepreneurs speak out: A Call to action for G20 government, notes that Canada is the only G20 country where high levels of
confidence among entrepreneurs are reflected in a similarly high number
of new business registrations. But Henry says there is always more work
to be done.
"Canada has already established an entrepreneurial ecosystem to foster
and encourage new businesses," he notes. "But entrepreneurs need
continued support from governments, corporate Canada and even the
educational system if the next generation is going to thrive over the
long term. Teaming with a firm like RSM Richter to work more closely
with and celebrate entrepreneurs is one way we're working towards
RSM Richter LLP has built a reputation for helping owner-managed
organizations anticipate and meet complex challenges in a fast-paced
and ever-changing world.
"Entrepreneurs have been the focus of our firm for more than 40 years,"
says David Steinberg, Co-CEO of RSM Richter LLP. "Joining forces with
Ernst & Young will allow us to bring their global entrepreneurial
services abilities and experiences to our clients, and that packs a
powerful punch not just for them, but for the country as a whole. This
is a chance to blend our team approach and best practices with their
exceptional brand, and work together to help existing and new clients
achieve their potential."
The transaction is expected to close on December 2. Approximately 140
RSM Richter LLP personnel, including 12 partners, will join Ernst &
Young's Toronto and Calgary practices. The transaction does not include
RSM Richter LLP's Toronto restructuring practice, which is pursuing a
transaction of its own. The transaction does not affect the operations
of RSM Richter Chamberland LLP, a separate limited liability
partnership which will continue to operate under the name of "RSM
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and
advisory services. Worldwide, our 152,000 people are united by our
shared values and an unwavering commitment to quality. We make a
difference by helping our people, our clients and our wider communities
achieve their potential.
For more information, please visit ey.com/ca.
Ernst & Young refers to the global organization of member firms of Ernst
& Young Global Limited, each of which is a separate legal entity. Ernst
& Young Global Limited, a UK company limited by guarantee, does not
provide services to clients.
About RSM Richter LLP
RSM Richter's Toronto audit, tax, corporate finance and consulting
practices and the Calgary insolvency practice have been seen as a
leader of professional services to entrepreneurial clients for over 40
years. With proactive advice and an integrated service model we have
supported clients as they have grown their businesses in the Canadian
and global marketplace.
For further information:
416 943 7121