We are extremely excited to announce that Marriotts is to merge with accounting and consulting firm HFK, and will be known as Nexia New Zealand.
We are extremely excited to announce that Marriotts is to merge with accounting and consulting firm HFK, and will be known as Nexia New Zealand. The merger will take place on 1 April 2016.
Combined, Nexia New Zealand will have a staff of approximately 90 and will ultimately come together under one roof, probably early next year.
Mike Medlicott, Joint Managing Partner, said that the firm is responding to the rapidly changing business environment by combining the strengths of the two firms.
“This will allow Nexia New Zealand to offer a broader and deeper range of services to clients, as well as maintaining our access to an international network of accounting firms.
“We are also extremely proud of having three women shareholders out of a total of nine, which goes against recent New Zealand trends of having decreasing numbers of women in leadership roles,” he said.
Greg Cowles, Joint Managing Partner, said that in the last five years the accounting and advisory market has become much more sophisticated.
“Exporters continue to grow, international value chains are more complex, and the increasing number of markets our clients are competing in means Nexia International will be able to add real value to our current and potential clients.
“New cloud-based technology has added another layer to the services we offer and the way we intereact with our clients. With technology evolving so quickly, we are also able to offer a capability in integrating international financial systems from here in Christchurch,” he said.
Both firms are leaders in the mid-tier professional accounting advice and services category. Marriotts has a strong reputation in the agribusiness, manufacturing, hospitality and trade services sectors while HFK is well known for its work in the health, property and corporate recovery sectors.
Medlicott said that the new company is the right size for Nexia New Zealand to continue to deliver the ‘Canterbury’ personal service for which both companies were renowned, and through which both have built a reputation of trust.
Graeme Marriott, a founding Partner of Marriotts, said that the combined histories and resources of two long-established Christchurch accounting firms augurs well for the success of the newly merged firm.
“The Marriotts’ ethos of Service, Excellence and Fun will be aligned with the Vision, Experience, Energy, Integrity values of HFK giving the long term benefit to staff and clients alike.”
Michael Keyse, a joint founding Partner in 1980 of HFK Limited, said that the partners of each firm had determined certain advantages and accumulating synergies and that these factors would accrue to the benefit of the respective clients and the combined professional teams.
“The accounting profession, like many other disciplines, will be subject to substantial change and pressure due to technological advances; a merged firm will be better placed to absorb and apply such anticipated advances.”
Ian Stone, Chairman Nexia Asia Pacific and Director of Nexia International,
said he is delighted with the merger of two iconic Christchurch firms to operate as Nexia New Zealand.
“The opportunities that Nexia New Zealand will be able to deliver to the business community of Canterbury and the South Island will be second to none and will be a further step towards Nexia’s growth strategy of ensuring we are positioned as a top 10 firm in all countries,” he said.
About Nexia International
Nexia International is a leading worldwide network of independent accounting firms, providing clients with national and international audit, accounting, tax and advisory services in a cohesive, personal and customised manner.
Nexia International is the 10th largest global network of accounting and consulting firms with a current fee income in excess of USD$3.1bn, with over 24,000 staff in more than 120 countries.
Nexia New Zealand is a member of Nexia International. All Nexia members are independent firms benefiting from a network of global best practices, ensuring a common commitment to quality. As a member of Nexia International, Nexia New Zealand has professional contacts in 565 offices worldwide, particularly benefiting its clients requiring overseas tax, accounting and audit compliance services.
If you have any questions about how this merger will affect your business, please don't hesitate to get in touch with your regular contact at HFK or Marriotts, either of whom will be able to answer all your questions.
Frequently Asked Questions
Q: Why are you merging?
A: The proposed merger of HFK and Marriotts would enable us to offer a much broader and deeper range of services and advice to clients.
Q: Are you moving offices?
A: Not initially. Both firms would work out of their own respective offices, but we will look to secure new premises in the central city and look to physically move in the next 12 months.
Q: Are there other advantages?
A: The merge will enable us to offer clients a wider range of services and access to an international network of accounting and consulting firms.
Q: Will the fee structure change?
A: Fundamentally there will be no changes
Q: Are my records safe?
A: Yes, your records are safe.
Q: Will the partner and staff that I work with change?
A: Fundamentally there will be no changes but there will be a bigger team supporting them.