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29 November, 2006 - 11:44 By Staff Reporter

BDO opens Cambridge office

BDO Stoy Hayward is to open its first Cambridge office after a roaring 18 per cent revenue growth in the East of England helped elevate the company into the top five of the UK’s largest accountancy firms.

Net revenue was up £2 million to £14.2 million this year, while staffing levels in the region increased approximately 10 per cent to 165 employees in Hatfield and the same again in Chelmsford, including several high profile appointments with partners and directors joining from the ‘big four’ accountancy firms.

Lead partner at BDO Stoy Hayward’s East of England regional Head Office, Gary Ives, plans to use the Cambridge office to support the the firm’s growth: “It’s been a fantastic year for the firm.

In Hatfield we have seen growth across the board – with corporate finance, in particular, leading the way. The opening of a new office in Cambridge early next year will only serve to strengthen our position.”Nationally BDO Stoy Hayward announced growth of 27 per cent propelling it past Grant Thornton to become the UK’s fifth largest accountancy firm

.Ives added: “Much of the business we have conducted this year has had a strong international flavour with an increase in technology and US-based clientele.

“For example, advising in-bound American companies and those UK-based operations looking to expand overseas.”

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