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Why Family Business Succession Fails (and how to fix it)
AAB / News / Page 26
The Partners are delighted to announce the promotion of four members of their Management Team to Senior Manager positions.
Carol McGregor, who heads up the firm’s Management Information Solutions (MIS) team, joined AAB in 2004 as a specialist in the installation, set up and support of accounting systems. As well as managing the MIS team, Carol provides IT consultancy in both Accounts and HR software as well as training and on-going support.
Jonathan Leiper joined the firm in 2000 and has a wealth of experience in the field of financial and accounting software. Working alongside Carol in the MIS team, his main focus has been providing IT consultancy and project management services for clients, most recently designing and implementing an electronic global tax tracking system to ensure employment tax and social security compliance for internationally mobile employees for a major oil and gas service company in Houston.
As a member of the firm’s Private Client Team, Lynn Gracie, who joined the firm in 1997, is responsible for providing advice on tax planning and compliance for high net worth individuals, including those leaving or entering the UK and non UK nationals, advising on the taxation of various types of investments, and capital transactions. Lynn is a Fellow of the Association of Tax Technicians and specialises in consulting advice connected to income and capital gains tax exposure arising from employee share awards.
Carole Lovie joined the firm in 2007 and, as part of the Accounting Services team, specialises in the accountancy, statutory compliance and management accounting needs of start up and owner managed businesses. Carole is a fellow of the Association of Chartered Certified Accountants and has considerable experience both in practice and in industry, through undertaking a number of roles in accounting, personal tax and corporate tax.
Graeme Allan, Managing Partner, commented “we are committed to providing specialist advice and excellent service to our clients and these promotions demonstrate the broad range of specialist skills that we continue to develop within our team.”
Anderson Anderson & Brown LLP (AAB) has announced the appointment of two new Partners. They are Chris Masson and Derek Mitchell.
Chris trained and qualified with the firm and was promoted to Director in 2011. He has responsibility for the provision of audit services to a large number of clients across a wide variety of sectors including oil and gas service, construction, retail and manufacturing. Chris has experience in advising owner managed businesses as well as the global co-ordination of audits for a number of international groups.
Derek trained as an accountant before specialising in tax, qualifying as a Chartered Tax Adviser before joining AAB in 2006. He was promoted to Director in 2013 and leads the firm’s Private Client division. Derek advises on corporate and personal tax planning for owner-managed businesses, business owners and families, identifying tax efficient solutions for the firm’s many entrepreneurial clients.
Graeme Allan, Managing Partner commented, “By expanding our leadership team, through these appointments, we are confident that our ability to deliver only the very best of client service will be strengthened further. Both Chris and Derek have made a significant contribution to the firm since they joined and their promotions are well deserved and are recognised as such by both clients and fellow colleagues alike.”
AAB, Aberdeen’s largest independent firm of Chartered Accountants, has been named as the top dealmakers in Scotland in 2014 for the 10th consecutive year, after being recognised by the Scottish Business Insider as the accountants having completed and initiated the most deals in Scotland each year from 2005 – 2014.
The Scottish Business Insider’s review of the Scottish deals market reveals that AAB completed 42 transactions in 2014, 90% more than any other accountancy firm in the same period, and initiated a third (14) of those deals. Transactions completed by AAB in the period included the disposals of VerdErg Connectors to First Reserve backed AF Global Corporation, S & D Fabricators to Global Energy Group and RS Occupational Health to Riverside backed DISA Global Services; and the investments in Fathom Systems by Maven Capital Partners, Task Fronterra by Business Growth Fund (“BGF”) and Rigmar by First Reserve Momentum involving the acquisition of Interocean Marine Services.
Douglas Martin, Corporate Finance Partner, said “It is hugely rewarding to achieve this fantastic milestone for the 10th successive year – reflecting as it does on the efforts and successes of an experienced and committed team of individuals. Each year offers up different challenges and through their exceptional talent and expertise our team continue to rise to the occasion and deliver results time and time again.”
Looking ahead, Martin commented “We are delighted with our transaction successes during 2014 and our current deals pipeline remains very healthy. The current oil price obviously brings some challenges but also presents good opportunities to buy quality assets at a sensible price for those who look beyond the short term outlook. We remain positive about our prospects in the year ahead given our superb market position and look forward to bringing many more deals to fruition during the remainder of 2015.”
The Partners of Anderson Anderson & Brown LLP (AAB), one of the leading independent firms of Chartered Accountants in Scotland, are delighted to announce the completion of the firm’s first acquisition, John F Daly Associates Ltd (“JDA”).
JDA specialise in providing joint venture (JV) and contract audit services to a number of upstream exploration and production (E&P) companies through their team of associates, all of whom are highly experienced Finance professionals with a wealth of industry knowledge. JDA is an international business and in addition to the UK and Europe, it has completed assignments in Africa, Asia, Australia and South America.
John Daly continues to work in the business as a consultant and lead auditor alongside AAB Director, Ian McPherson who has responsibility for the day-to-day operations.
Commenting on the acquisition AAB’s Managing Partner Mike Brown said “John has built a company with a fantastic reputation within the E&P sector and his team of associates all have extensive accounting and audit experience gained with major oil companies both in the UK and overseas.
As we enter 2015, the sector faces some real challenges but we see great opportunities to help our E&P clients streamline their operations and reduce their costs. The services provided by JDA will complement those we currently deliver principally through our Outsourcing and Integrated Employment Solutions team.
We are looking forward to working with John and his team of associates to enhance the services which we can offer to our clients.”
John Daly added “Having been a client of AAB since I started my business twenty five years ago I know from my own personal experience with the AAB team that the business is in safe hands. AAB provide a high quality service which delivers value to their clients and I am delighted that they will continue to drive the JDA business forward.”
Anderson Anderson & Brown LLP (AAB), one of the leading independent firms of Chartered Accountants in Scotland, has announced that the firm’s application for planning permission for a new office at the Prime Four business park in Kingswells has been approved unconditionally by the Aberdeen City Council.
AAB has taken a 15-year tenancy at the park, from Spring 2016 and its purpose built office complex will have capacity for 400 employees. The new, environmentally friendly building will be 45,000 square feet and construction will begin March 2015. The L-shaped corner building features a stunning glass atrium as its centrepiece, and will be located close to Prime Four’s social and amenity plaza, the Fourcourt.
Mike Brown, Managing Partner, commented “We are delighted that the planning application has been approved by the council. We are hugely excited about the new office building at Prime Four, which is going to be fabulous, and will provide our firm with a fantastic platform for future growth.
The firm has been in great locations in Aberdeen, starting at the well-known Carden Church before moving to 9 Queens Road, one of the best of offices in the West End. We have enjoyed our time here but the extraordinary growth which we have achieved over the years continues apace and this will be marked as we enter our 25th year in business and move to our new, landmark office headquarters.”
Graeme Bone, Group Managing Director of Drum Property Group, developer of Prime Four, added “We are now looking forward to starting construction of the new HQ for AAB and welcoming them onto the park when the building is completed early next year.
AAB will be joining a vibrant community at Prime Four – activity has increased significantly since the turn of the year, following the hotel, health club, Starbucks and other social and sporting amenities opening at the Fourcourt plaza at the heart of park.
Despite the challenging market conditions currently facing the energy sector we continue to experience strong interest in Prime Four from major industry players and will announce further new tenants during the course of this year.”
AAB, one of the largest independent firms of Chartered Accountants in Scotland, has announced two key appointments. They are Sean McAuley as Senior Manager within their Fraud Prevention and Investigation service line, and Mark Dailey as Senior Manager within their Internal Audit Team.
Sean, who is a fully accredited Counter-Fraud investigation officer and manager, joins AAB from Dundee City Council where he was the Key National Fraud Initiative contact working in their Revenues Division. Sean’s career has spanned twenty-two years in local Government and prior to joining AAB he played a significant role in a number of cross boundary working groups which included Scottish Government and other Government Departments whose remit was to deliver significant change in how to effectively tackle fraud nationally. Sean brings a wealth of technical knowledge to AAB and his focus will be on leading both AAB’s Fraud Prevention and Investigation service line and independent Whistleblowing service, SeeHearSpeakUp.
Mark, a CIPFA qualified accountant, joins AAB from BP and as well as his E&P sector experience Mark has also worked in the public sector and the accounting profession. In addition to his considerable internal audit experience Mark has been involved in supplier contract audits, JV cost reporting projects and the audit of anti-bribery and corruption processes. Mark will lead AAB’s Internal Audit Team and will work closely with Sean to grow the firm’s controls, compliance and risk management offering to clients.
James Pirrie, Partner, commented “We are delighted to have both Mark and Sean join our team. These appointments strengthen our risk management service offering and further enhances our commitment to providing top quality services to our clients.”
Anderson Anderson & Brown was formed in 1990 and now has 13 Partners, 8 Directors and over 200 staff. The firm has 6 key service areas namely; audit & accounting, taxation (personal, corporate, international and VAT), integrated employment solutions, corporate finance, management information solutions and wealth management.
The Partners of Anderson Anderson & Brown LLP (AAB), Chartered Accountants, have hosted a Champagne Reception at which 11 members of staff celebrated their long service with the firm. Chris Masson, Linda Carmichael, Lesley Connon, Lynn Wilson (not pictured), Gordon Steele and Anna Fergusson (not pictured) are all celebrating fifteen years with AAB alongside Elizabeth Forno, Stephen Burrows, Carol McGregor, Val Huggins and Mairi MacIver celebrating ten years with the firm.
Mike Brown, Managing Partner, acknowledging the long service said “Each of these individuals celebrating their long service with AAB have made significant contributions to the success of the firm since they joined. It is hugely rewarding to see individuals progress through the firm and to witness their career and personal development.
It gives the Partners tremendous satisfaction to add these names to an ever-growing list of long serving employees. Presenting each of them with a gift to commemorate this milestone is a token of our appreciation of their loyalty and service to the firm.”
Anderson Anderson & Brown LLP (AAB) is to move its headquarters to the Prime Four business park in Kingswells, Aberdeen.
AAB has taken a 15-year tenancy at the park, from Spring 2016 (subject to planning consents), and its purpose built office complex will have capacity for over 300 employees. This will see the total number of workers based at Prime Four increase to over 2500 by the middle of 2016.
The new, environmentally friendly building will be 45,000 square feet and construction will begin by Easter 2015 subject to planning consents. The L-shaped corner building features a stunning glass atrium as its centrepiece, and will be located close to Prime Four’s social and amenity plaza, the Fourcourt.
A detailed planning application on behalf of AAB has now been submitted and will be considered shortly by Aberdeen City Council.
AAB will join Village Urban Resorts and major energy operators Statoil, Apache, Nexen, Transocean, OneSubsea and Premier Oil at Prime Four. The hotel complex and the Fourcourt plaza will open this December. Development of the plaza will see a wide range of additional amenities and services introduced to the park. KingsWellies Nursery, delivering private childcare for up to 120 children, will open in March 2015.
“We are delighted to welcome Anderson Anderson & Brown LLP to Prime Four. AAB will be the first professional services firm to arrive at the park, widening the mix of complementary support industries to the tenant base,” commented Drum Managing Director Graeme Bone.
“Prime Four is now established as one of the world’s major energy hubs and we look forward to announcing additional new tenants from the sector in due course.”
Mike Brown, Managing Partner of AAB also added: “Our firm has experienced substantial growth over the past few years and our staff head count has increased accordingly. As a result our current office accommodation at 9 Queens Road is becoming stretched and therefore insufficient for our future needs. Whilst it will be a real wrench to leave 9 Queens Road, which is an outstanding office and one of the best in the west end, we are delighted to announce that agreement has been reached with Drum Property Group for a new office building at the Prime Four business park.
The Kingswells site is Aberdeen’s only world-class business park and, after several months of careful consideration as to the future needs of our firm, the Partners are hugely excited to have entered into this agreement which we believe will provide a fantastic platform for the next stage in the firm’s development.”
We are delighted to announce the appointment of Sean McAuley as Senior Manager within our Fraud Prevention & Investigation service line.
Sean, who is a fully accredited Counter-Fraud investigation officer and Manager, joins AAB from Dundee City Council where he was the Key National Fraud Initiative contact working in their Revenues Division. Sean’s career has spanned twenty-two years in local Government Departments whose remit was to deliver significant change in how to effectively tackle fraud nationally. Sean brings a wealth of technical knowledge to AAB and his focus will be on leading both AAB’s Fraud Prevention and Investigation service line and independent Whistleblowing service, SeeHearSpeakUp.
James Pirrie, Partner, commented “We are delighted to have Sean join our team. Our ongoing success in client gains means that we need to continue to add to our existing breadth of expertise and further enhance our commitment to providing top quality services to all our clients. We are confident that Sean’s specialist skills and experience will enable us to achieve this and that he will lead both the fraud prevention and investigation service and SeeHearSpeakUp to further growth and success.”
Patrick Young aged 13, nephew of AAB Partner James Pirrie and sponsored by AAB, has had a number of achievements in tennis. Prior to the start of the summer tournaments, Patrick played for the North of Scotland in the County Cup which is a British national competition. Qualifying in County Cup was in Wrexham where the North boys defeated Essex, Northumberland and Lancashire to reach the finals in Nottingham 2 weeks later. At Nottingham the North boys won the bronze medal, a record achievement for the North beating Derbyshire and Kent and drawing with Sussex.
Mid-May Patrick won the 16 and under event at the North Angus DC Lighting tournament in Montrose defeating number 1 seed Matthew Forrest in the final, he was also runner up in the men’s doubles at the same event with his coach Kris Soutar. At the end of May Patrick won the 16 and under category in the North East Schools competition played at Ruthrieston in Aberdeen beating Aberdeen Grammar pupil Jason Alexander in the final.
During the summer break Patrick competed in three grade 3 competitions in Glasgow (there is only one grade 2 competition in Scotland per year so Grade 3 is really the highest standard available). In the first, The Scottish (closed) Championship at Strathgryffe Patrick won the 14 and under title beating local Aberdeen rival Ross Martin in the semi-final and North of Scotland team mate Scott Hamilton in the final. Patrick was runner up in the other 2 events at Giffnock and Newlands.
Last month Patrick reached the men’s final in the NESLTA confined tournament at Rubislaw, losing to number 1 seed Rob Ainsley in a Match Tie Break decider 10-6. At age 13 Patrick already has a 5.1 tennis rating, better than is required for his ambition of a tennis scholarship to an American university!