Leading accountants and business adviser Scott-Moncrieff has elected a new managing partner and chairman.
Stewart MacDonald has been appointed as the firm’s new managing partner, while Robert Mackenzie has taken on the position of chairman.
MacDonald succeeds Nick Bennett as managing partner of the 15 strong partnership. Nick was managing partner of the firm for five years and will continue on the Board.
Despite the turbulent market, MacDonald, who has been with the company since 1999, believes he has taken on the role at a time when Scott-Moncrieff is in a strong position.
He said: “The strategy of organic growth has served the firm well. We have maximised our offering as a leading adviser to SMEs, the leading adviser to the charity sector in Scotland and the public sector both in our home market and south of the border. The focus will be on maintaining and enhancing our position in these markets.
“The firm is more nimble than ever. Through natural attrition we have fewer partners than 15 years ago, but without a negative impact on our turnover. So, we are leaner and more efficient, and in a prime position to grow by concentrating on what we do best. Consolidation is the buzzword in the professional services market at the moment, and while our door is firmly open to opportunities, we are in the fortunate position of not having to seek out a deal. We can and will take time to evaluate what’s best for us and our clients.”
With regards to the troubled marketplace, MacDonald said: “No one expects trading conditions to return to the pre-recession days so in that respect there’s not an end in sight. However we do expect an entirely new landscape to emerge in which we see an easing of the recent challenges. In the last year the number of clients having to restructure or worse, going to the wall, has dropped significantly. We have retained our good people, trained them well and enhanced our offering, so we are primed to move forward to this ‘new normal’.
“Renewables, manufacturing and service industries are strong growth sectors for Scott-Moncrieff, alongside key areas such as the public sector and charities, where we are extremely strong, and in some cases arguably the strongest.
“I am also keen to boost the Scott-Moncrieff offering across the strong regional centres outside the central belt, in places such as Aberdeen, Perth and Dundee. Our clients will continue to tell us where they need us to be. Further afield, being part of the Moore Stephens network has opened up work for us across the globe in places such as Singapore, the US, Austria and Germany. This partnership will be another key factor in getting back to growth.”
Scott-Moncrieff, which was recently re-appointed as auditor to Lothian Buses plc, has won work with British Red Cross and successfully tendered for a position on the Government framework ConsultancyONE. The firm has also completed the due diligence for six of Scotland’s ten further education colleges which are currently merging.
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