ACCOUNTANCY firm Grant Thornton has moved into Aberdeen amid the shake up in the corporate sector in North East Scotland triggered by the crude price slump.
The business has recruited deal-maker Ian Knott to lead a push for growth in the Aberdeen area where it sees opportunities to win work in sectors such as oil and gas and food and drink.
The sharp fall in oil prices since 2014 has posed big challenges for many businesses in Aberdeen sparking an increase in demand for advisory services in areas such as corporate finance and restructuring.
Experts have noted the downturn has prompted firms to consider mergers and acquisitions to add scale and possibly to take advantage of the resulting fall in asset prices.
Rob Craven, partner and head of advisory services for Grant Thornton in Scotland, said: “The region has been hit hard by the oil and gas downturn and wider economic and political uncertainty.”
But Mr Craven is confident the mix of industry in the Granite City will help ensure it has a bright future.
Mr Knott is an oil and gas specialist who has gained around a decade’s experience working in Aberdeen, including roles at accountancy giant KPMG and Simmons & Company investment bank.
Grant Thornton said it will be recruiting staff for all levels in the new office, without disclosing how many.
It has offices in Glasgow and Edinburgh and employs 185 people in Scotland,
A spokesman said the firm is on track to meet the ambitious growth targets it has set in Scotland.
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