BDO elects new managing partner

Martin Gill, head of BDO in Scotland, has today welcomed the election of Paul Eagland as the new managing partner of the mid tier accountancy firm following a vote by all its partners.

The firm has announced today that Mr Eagland will take office on 1 October when he succeeds Simon Michaels, who has completed his maximum of two four-year terms as the firm’s managing partner.

BDO said Mr Eagland comes to the role with a wealth of experience having been with the firm for 29 years and a member of its leadership team since 2008.

During that time, he has held a number of senior leadership positions including head of national tax, head of national audit and, most recently, head of national professional services.

BDO paid tribute to his predecessor Simon Michael’s leadership, under whom the firm completed the first proactive strategic merger in the accountancy market for more than a decade when itmerged with PKF in 2013. BDO’s UK revenues have since grown over 40 per cent and are now approaching £400m, with the firm employing nearly 3500 people in 18 UK offices.

Client service has been BDO’s foundation for growth during Mr Michael’s tenure, the company said, with BDO independently ranked as number one for client satisfaction for the last four years, outperforming all its major competitors.

A statement from the firm said: “BDO’s people have been central to this success and, under Simon’s leadership and with the firm’s distinctive values, BDO continues to offer an entrepreneurial and inclusive environment.

“A strong balance sheet has given BDO the financial stability to invest for the long term over the last eight years. As a result BDO has made significant investments in new technology and client processes, including market-leading cloud accounting, global outsourcing and data analytics services, as well as consistently investing in its core audit, tax and advisory services.”

Speaking following his election as Mr Michael’s replacement, Mr Eagland, said: “BDO has a great track record of championing and serving the needs of the UK mid-market and ambitious businesses. This is all down to our people who anticipate the needs of our clients, provide valued expertise and create strong entrepreneurial relationships.

“I am excited about leading this business as we continue to support our people and invest in new technology and services. But no one has a monopoly on good ideas: my first step as Managing Partner-elect will be to engage with the business, listen to our people and learn.

“As well as spending time listening to our people I will be working with our clients. Understanding the market they operate in, and the challenges they face, will help me cement our position as the best advisers to the mid-market. The economic influence of our client base is huge and it’s up to us to help them thrive.”

According to BDO research, the mid-market is overlooked and undervalued in the UK. Mid-market companies generate over £1 trillion in revenue every year and employ six million people across the country. The mid-market is a dynamic and ever evolving part of the UK economy and includes large private companies, sophisticated mid-market private equity houses as well as AIM-listed and other listed companies.

He added: “The mid-market falls in a ‘policy and profile’ gap: too large to benefit from policies tailored to small business, but too small to win the attention that a relatively small number of large global businesses command from the media and policy makers. Under my leadership, BDO will continue to serve and champion the UK mid-market. We will also continue to take the opportunities presented by the recent regulatory changes particularly with public interest entities.”

Martin Gill, head of BDO in Scotland, said: “I’m delighted that Paul will take over as the new BDO Managing Partner. He is passionate about empowering our talented people and promoting our values and has the experience, knowledge and vision to lead this firm successfully. I know Paul will make sure that BDO continues to lead the market by investing in people and technology and ensuring we take advantage of regulatory changes that open up the market.”

BDO has 64,500 people working out of 1,400 offices worldwide, generating revenues of $7.3bn.