Nexia International re-enters top 10
Nexia International re-enters top 10 networks with 22% jump in revenue
Nexia International announced a growth 22% from 2011 in its total revenue when it published its financial results for 2012, making it the fastest rate of growth among major global accounting networks and placing Nexia International into the top 10.
Regionally, Nexia International saw its highest revenues of US$1.3bn in North America. This was followed by Europe (US$1.09bn), Asia-Pacific (US$300m), Latin America (US$44m) and Africa and the Middle East (US$36m). The global network’s North American revenues were bolstered by recently merged US firms CliftonLarsonAllen and CohnReznick, both of which chose to stay with Nexia International following their mergers. During the year, the international network expanded its presence by attracting member firms in Australia, Bangladesh, China, Mexico and Mongolia, resulting in an 11% rise in total staff to 22,319 based in 581 offices.
“Our two-year growth rate of 34% has been remarkable given the economic climate and shows clear evidence of the successful implementation of our strategy. A continued commitment to recruiting high-quality firms in key and emerging world markets, combined with the delivery of several internal initiatives, have been critical to our success,” said Kevin Arnold, CEO of Nexia International
Brian Tonna, Managing Partner at Nexia BT, the Maltese member of Nexia International, stated: “Nexia International is clearly going from strength to strength, demonstrated by the network’s impressive fee income and the number of enquiries and work generated both on a local as well as on an international basis.”