Grant Thornton Advisors — part of what used to be just Grant Thornton before private equity got into the mix and split the firm into attest and non-attest entities because they’re required to or the PCAOB will be up their asses — announced this week that they’ve made an agreement to “expand the multinational platform it formed in January with Grant Thornton Ireland” by adding Grant Thornton Switzerland/Liechtenstein (say that three times fast) and Grant Thornton in the Channel Islands (known as Grant Thornton Limited, Channel Islands) to their stable. As the press release explains, this is but a part of their ongoing global strategy:
Earlier this year, Grant Thornton Advisors announced transactions to join the platform with UAE, Luxembourg, the Cayman Islands and the Netherlands. Through this rapidly growing multinational platform, clients across three continents will have access to seamless and enhanced cross-border services, which are underpinned by investments in technology, people and quality.
Adding footprints in Switzerland, Liechtenstein and the Channel Islands strengthens the platform’s unified advisory and tax solutions, as well as its independent audit and assurance practices. It also creates a powerful network of professionals in European financial hubs — from Zurich and Geneva to Jersey and Guernsey, in addition to Bermuda, the Cayman Islands and UAE.
Oh, so they will be doing assurance too. Alright.
With the latest agreements, the Grant Thornton multinational platform will include approximately 13,500 professionals across nearly 60 offices stretching from the Americas across Europe to the Middle East.
Grant Thornton CEO Jim Peko, who thus far has yet to demonstrate he’s as DYNAMIC as certain predecessors, said this: “We are very pleased to have our colleagues in the Channel Islands, Switzerland and Liechtenstein join our differentiated and expanding platform. We’re building the world’s most talented team — delivering seamless offerings through an expanded footprint. The result: an unparalleled client experience and unmatched quality.”
Would you say Switzerland, Liechtenstein and the Channel Islands are your CHOSEN MARKETS? Say it, Jim. Say it for us, please.
The transactions are expected to close later this year assuming regulators don’t cockblock the union(s). Like the deal with GT Ireland announced earlier this year, this latest venture is backed by New Mountain Capital. And it’s New Mountain Capital that brings us the corniest, most over the top quote of the press release:
“The Grant Thornton platform is supercharging itself with the quality, talent and advanced technologies that clients need and want,” said Andre Moura and Nikhil Devulapalli, managing directors at New Mountain Capital. “The addition of these two firms — both well-respected in their markets and renowned for their finance expertise — will continue to elevate Grant Thornton’s world-class and wide-reaching financial services offering.”
Their chosen markets was RIGHT THERE. Don’t do this to us.
