AAB Augment Corporate Finance Service In Yorkshire

AAB, a leading professional services firm across the UK and Ireland, is expanding its corporate finance offering across the North of England with the appointment of two new key team members based in Leeds.  

Patrick Lynch joins as Corporate Finance Partner, alongside Harris Jones as Corporate Finance Manager. Both Patrick and Harris will be based in the heart of Leeds, in the office on St Paul’s Street. 

Patrick, who brings more than 14 years’ experience in professional services, spent almost a decade at an independent corporate finance firm based in Yorkshire. His experience encompasses both buying and selling roles on transactions, on behalf of SMEs and private equity firms based throughout the UK. 

Patrick joins six other Partners and Directors in AAB’s corporate finance leadership team across the UK and Ireland.   

Throughout the past seven years as a Corporate Finance Advisor, Harris Jones has amassed significant experience in advising shareholders, management teams, and institutional investors within the mid-market, most recently in the M&A team of a global environmental consultancy group. He combines this role with being a Lecturer of Finance within the Accounting and Finance subject group at Leeds Business School. 

Commenting on the appointments, Head of Corporate Finance, Gordon Steele said: 

“Welcoming both Patrick and Harris to the team is another key milestone for us. The AAB corporate finance team is the top deal maker in Scotland and Northern Ireland (as per Experian’s M&A Review), and we’re delighted to offer these enhanced services to the North of England. The experience and expertise of both Patrick and Harris will add significant value to our already market-leading team.”   

James Hunt, Head of Leeds, added: 

“Since AAB entered the Leeds market in 2021 we have introduced an enhanced range of services to support our clients across the North of England. With both Patrick and Harris joining our team here in Leeds we are excited about the addition of end-to-end corporate finance services to the expanding offering we deliver locally, to benefit our clients both now and in the future.”  

AAB now has corporate finance team members based in offices across Aberdeen, Edinburgh, Glasgow, Leeds, and Belfast, supporting clients across the UK, Ireland and internationally. The team provides M&A advisory, due diligence/transaction services, business valuations, fundraising support, business rescue and recovery, insolvency, and litigation support.  

Recent accolades achieved by the team include being named the Top Financial Adviser for M&A activity in Scotland, according to Experian’s United Kingdom and Republic of Ireland M&A Review, and Transaction Services Team of the Year Award by Insider Media at the Northern Ireland Dealmaker Awards 2024. 

AAB announces key promotions during period of strategic growth

AAB, a leading professional services firm across the UK and Ireland, has today announced the promotion of five team members into key leadership roles. This move not only underscores AAB’s dedication to fostering talent and commitment to excellence but also signals a continued trajectory of growth with 150 team members promoted across the 12 AAB office locations.

The newly appointed individuals bring a wide range of experience and the new roles will be critical as the company expands its team across the UK and Ireland.

Helen Daniels assumes the role of Audit Partner in the AAB Leeds office. Helen has been a key member of the Audit team specialising in owner managed businesses and the financial services sector.

Lynn Gracie has accepted the position of Private Client Partner based in the AAB Aberdeen office. Leading the Private Client International Tax team, Lynn provides specialist tax advice connected to internationally mobile individuals, including Non-Residents and Non-UK Domiciles, providing holistic tax solutions across global jurisdictions.

Gregor Angus, who joined AAB in March 2023 has been promoted to the role of Business Development Partner, North of Scotland. This appointment marks a commitment from AAB to drive further growth in the North of Scotland region across all service lines.

Based in the AAB Aberdeen office, Andrea Begg has been promoted to Business Advisory Director. In her new role, Andrea will continue to deliver the highest standard of service and advice to owner managed and family businesses over a number of sectors. Andrea is also in the AAB tax investigations team.

Assuming the role of Business Advisory Director based in the AAB Glasgow office, Gillian Rushton joined AAB in March 2016. Gillian provides business advisory tax services to a range of clients across all industries, as well as a being a member of both the AAB technology sector team and the tax investigations team.

Emma Lancaster, Chief Executive Officer of AAB commented on the promotions: “Helen, Lynn, Gregor, Andrea and Gillian are dedicated team members at AAB and it is a great
pleasure to recognise each of these individuals with their promotion to our leadership team. We are committed to promoting from within, ensuring that every team member has the opportunity to progress their career. As we continue to grow, their contributions will be pivotal in driving our vision forward and maintaining the high standards our clients know we can deliver to support their own business and individual growth.”

Since securing investment from August Equity in 2021, AAB has tripled in size and now employs c1,000 people across 12 office locations in the United Kingdom, Ireland and the United States, with strategic plans in place to continue to scale the business rapidly, supported by the promotions announced today.

AAB Raises Over £100K At Second AABIE Charity Ball

FPM, an AAB Group Company, hosted over 450 guests at the AABIE Charity Ball, held for the first time in Newry on Saturday night (June 8) 

Held in the city’s Canal Court, the Ball raised a remarkable  £100,369 for the AABIE Charitable Initiative (known as ‘AABIE’) with all funds going directly to the charity.   

Feargal McCormack, FPM Managing Partner commented “We are incredibly grateful to everyone who played a part in making the AABIE Ball such a success. To our connections who made such generous donations, our table hosts and guests who joined us on the night and to every person that made our event possible, thank you so very much.  

“One of the driving forces behind FPM joining AAB Group back in 2022 was the synergy across both our teams. Being active members of our local communities and giving something back through AABIE is key to this. We are truly thrilled, and incredibly proud, of what we have achieved together for AABIE this weekend.” 

Formed in 2016, AABIE is AAB Group’s very own charity, and is the platform which enables everyone across AAB Group, including FPM team members, to invest in their local communities through grant funding and volunteer time. This approach means that the support AABIE provides is varied and widespread, and the charity is well-placed to help many people.  

To date, AABIE has supported over 180 charities across the UK and Ireland. The latest grant round (ended 31 March 2024) saw AABIE pledge over £38,000 to 28 different charities, the largest amount the charity has ever pledged in a single grant round.   

Some of the charities supported as part of this grant round include the Edinburgh Food Project, enabling them to cover the cost of mental health and wellbeing workshops, Leeds Baby Bank who are now able to purchase 42 buggies and prams because of the funding, and Befriend a Child who now have the costs of running activities for the next 12 month covered by AABIE. Down Right Brilliant were able to provide an overnight residential trip to an outdoor activity centre for adult members of DRB and to provide a workshop for siblings of members with Down Syndrome. The charity also issued top-up funding to six team members across its offices in the United Kingdom and Ireland to support their own fundraising activities.  

Following these donations, AABIE reached the milestone of pledging over £300,000 of vital grant funding since the charity was launched. Another recent milestone achieved by AABIE was reaching over 6,000 hours of volunteer time delivered. All AAB Group team members are entitled to a day of volunteer leave each year to support community projects and causes close to their hearts.  

Sheena Anderson, AABIE Chair said “When we launched AABIE in 2016 we only had one community we worked within, which was Aberdeen, and it is fantastic to see how we have managed to increase the reach and impact AABIE has in new and different communities as the AAB Group has grown.  

“Raising over £100K is a wonderful result and will enable AABIE to continue to support so many charities and worthy causes across the UK and Ireland. It is a privilege to work with my fellow AABIE Trustees and see what a significant impact grant funding and volunteer time can have on the lives of so many people.”   

Emma Lancaster, AAB Group Chief Executive, added: “AABIE is a very special charity, and the way we operate is that bit different. Everyone across AAB Group is involved with AABIE, and it is our team members who truly make the work AABIE does possible through volunteering and raising almost all money donated through grant funding. 

“We are very proud of AABIE, and proud of the work our teams do to ensure AABIE is successful. But we know there is so much more we can do to continue to support the communities we operate in, and we can only do that if AABIE has the funds available to support the charities and worthy causes who need our help. Achieving what we have this last weekend will enable this amazing charity to continue to carry out its great work, and we are so thankful to everyone for their support and generosity.”  

The current AABIE grant round closes on 30 June 2024. More information on how to apply for funding or volunteer time can be found at aab.uk/about/aabie.

AAB Wealth announces Synergy Financial Planning acquisition

Award-winning chartered financial planning firm, AAB Wealth, has today announced the acquisition of Synergy Financial Planning, based in Bishopbriggs, Central Scotland.  

Having experienced year-on-year growth since the firm was established in 2011, following this latest acquisition, AAB Wealth will have assets under advice (AUA) in excess of £800 million. The combined team of 37 are spread across Scotland, England and Northern Ireland, each of whom is dedicated to helping families and individuals plan for their future. 

The Synergy Financial Planning business led by David Neely, supports over 200 families across Central Scotland and shares the same evidence-based approach to investing as AAB Wealth.  

Andrew Dines, Head of AAB Wealth, commented: “Synergy Financial Planning is a fantastic addition to our expanding team. David has been instrumental driving the growth of the business and his approach to financial planning and client support match perfectly with our philosophy. I look forward to welcoming David and his team to AAB Wealth to continue delivering the very best financial planning advice for our clients.” 

David Neely, owner and Financial Planner at Synergy Financial Planning added: “This is a truly exciting next chapter for our team and clients. Synergy and AAB Wealth have the same ethos.   Developing long-lasting relationships which deliver the best outcomes in helping our clients to get the most out of life lies at the heart of what we do. The transition for Synergy Financial Planning clients will be seamless, as both of our firms utilise the same platforms and systems to support clients to achieve their financial goals.” 

The team from Synergy Financial Planning will join AAB Wealth with immediate effect and will remain based in their office in Bishopbriggs.

This marks the second acquisition for AAB Wealth following the announcement of Kilkee Financial Planning in January 2023. AAB Wealth was awarded the PFS Financial Planning Firm of the Year accolade for 2023, and has recently been announced as a VouchedFor top-rated firm for 2024.  

Featured image left to right: David Neely and Andrew Dines.

AAB Announces Promotions For Three Key Leaders To Drive Growth

AAB, a leading professional services firm across the UK & Ireland, has today announced the promotion of three business leaders to drive forward its ambitious growth plans. With a commitment to building deeper relationships with clients, AAB has appointed Lyn Calder as Chief Growth Officer, John Beevers as Head of Professional Services and Neil Robb as Head of Business Advisory. 

As the newly appointed Chief Growth Officer, Lyn Calder brings a wealth of experience in strategic planning and business development, poised to drive expansion initiatives and cultivate key partnerships. Lyn has been with AAB for six years and was previously the Managing Partner for the AAB Edinburgh office.  

John Beevers, in the role of Head of Professional Services, will leverage extensive expertise in business performance to enhance service quality and drive operational excellence overseeing Audit, Corporate Finance, Business Advisory, Tax and Private Client. John is based in the AAB Leeds office. John had previously been a partner for more than twenty years and joined AAB in 2021 as part of AAB’s strategic acquisition of the accountancy business. 

Neil Robb, who takes on the role of Head of Business Advisory, will lead efforts to provide tailored solutions for SMEs through delivery of accounting & tax compliance, digital accounting solutions and strategic advisory projects. Neil is based in Glasgow and joined AAB in 2023 in the eighth strategic deal for AAB in the acquisition of French Duncan. 

Emma Lancaster, Chief Executive Officer of AAB, commented: “The business has been on an incredible growth journey over the last three years. As part of our growth strategy, we are committed to providing unmatched opportunities for our team members to develop their own careers. Their proven track records and commitment to excellence make Lyn, John, and Neil key leaders as we continue to grow the business.  

“In their respective roles, these individuals will spearhead initiatives aimed at enhancing AAB’s position as a trusted advisor to clients. Their combined experience, expertise and passion will ensure that the business retains its client-centric focus and provides unparalleled service delivery.  

“With these appointments, we reinforce our commitment to deliver exceptional value to our clients and remain at the forefront of our industry.”  

Since securing investment from August Equity in 2021, AAB has trebled in size and now employs c1,000 people across 12 office locations in the United Kingdom, Ireland and the United States, with strategic plans in place to continue to scale the business rapidly, supported by the promotions announced today. 

AAB announces new director for Restructuring & Recovery team

AAB, the tech-enabled business critical services group, has announced a significant appointment to its Restructuring & Recovery team. Glasgow-based Phil Dunn has joined AAB as Restructuring & Recovery Director, bringing over 20 years restructuring experience within three of the big 4 accounting firms.  

With Phil’s appointment, the Restructuring & Recovery department now comprises 28 professionals across the UK and Ireland, and Phil is the fourth director in the team, joining Judith Howson, David McGinness, and Duncan Raggett. Judith recently gained her Insolvency Practitioners Licence with ICAS, and with 28 years’ experience in insolvency, she is also a Chartered Certified Accountant.  

The AAB Restructuring and Recovery team includes team members Gary Digney and Seamas Keating leading the Irish team who are shortlisted as finalists at the Irish Accountancy Awards 2024.  

The growth of the Restructuring and Recovery team within AAB’s Corporate Finance division follows a steep increase in demand for support from businesses facing financial challenges.  Recent statistics published by R3 show that corporate insolvency numbers in Scotland for Q3 2023-2024 increased by 7.4% compared with Q3 2022-2023. 

AAB’s Head of Corporate Finance, Gordon Steele, said: “Although the growth of the Restructuring & Recovery team has been prompted by challenging circumstances faced by other businesses, it is important to highlight that we have some of the best insolvency practitioners here at AAB. They approach each case with empathy and meticulous care.” 

“Our latest appointment, Phil Dunn, is a very welcome addition to AAB as the business continues to grow. He possesses a wealth of expertise in finding solutions for distressed SMEs, sole traders, and private individuals. He will work alongside another five high quality partners and directors in the Restructuring & Recovery team based across all AAB locations.” 

Phil commented: “At AAB, I have been welcomed into a highly capable team that respect and trust each other, and we exemplify this in our approach to clients. Personally, I find that one of the most satisfying elements of what we do is the positive aspects of a restructuring process such as safeguarding jobs and preserving businesses, and I will continue to advise clients on the best options available to them, as I have done throughout my career to date.” 

AAB Group Launches ESG Division To Support Businesses Build Sustainable Futures

In line with the global imperative for decarbonisation, Environmental, Social and Governance (ESG) reporting legislation is ramping up around the world. In the last year ESG reporting changes have been written into EU regulations and will be written into UK regulations over the next three years, impacting a range of businesses from larger companies through to SMEs.

In a bid to support businesses of all sizes to integrate sustainability principles into their operations and so comply with these legal requirements, AAB Group has announced the launch of their ESG division.

An increasing number of businesses will have to report and be audited on their carbon footprint as part of the Streamlined Energy and Carbon Reporting regulation (SECR) in the UK and Corporate Sustainability Reporting Directive (CSRD) in the EU, with a risk of fines for non-compliance.

However, in addition to compliance, businesses stand to gain a number of competitive advantages by taking action to establish this framework for measuring and reporting on ESG topics, potentially including: greater attraction and retention of talent, access to finance, cost savings, increased profitability and retention of contracts, as well as acquiring new business.

Alasdair Green, ESG Partner at AAB Group explained the rationale underpinning the establishment of the new division, “In today’s rapidly changing business landscape, ESG factors are becoming increasingly important considerations for investors, regulators, and consumers. It has been consistently highlighted that companies performing strongly across all three factors of ESG have been shown to be more profitable, with one study finding up to 6 times more. These businesses not only mitigate risk, but also stand to gain a competitive edge by fostering long-term resilience and value creation.

“At AAB Group, we recognise the critical role that businesses play in addressing pressing global challenges, such as climate change and social inequality. Our ESG proposition is designed to support businesses in embracing sustainability as a core component of their operations, driving positive outcomes for both society and the bottom line.

“We are extremely proud to offer this proposition, which not only complements our existing portfolio of business and professional services, but also adds significant value to our clients, both established and new. ESG is considered a key growth area within AAB Group, with plans including further recruitment, team development and training.”

AAB Group’s ESG team have extensive expertise in this increasingly important field, and hold credentials from Cambridge University, Chartered Accountants Ireland and the Institute of Accountants in England and Wales. With a trained B Leader on the team, AAB can also support companies pursuing B Corp certification.

Aveen McShane, ESG Director at AAB Group added: “Our clients realise that by commencing their sustainability journey, they will not only drive profits, but they will become more resilient, adaptable and avoid the real risk of being left behind. We are here to support forward-thinking businesses with our five-stage pathway. Our goal is to build resilient and future-proof organisations that can meet today’s needs, without endangering those of future generations.”

AAB Group’s ESG service offering is designed to assist businesses in navigating the complexities of sustainable business practices by offering:

• Stakeholder Engagement: To provide businesses with comprehensive assessments of their ESG risks and opportunities, AAB can conduct materiality assessments which identify positive and negative social and environmental impacts.
• Strategic guidance: With a team of experienced ESG specialists, AAB offers tailored guidance and strategic recommendations to help businesses align their ESG policies with their broader business objectives. The AAB experts provide practical insights to foster meaningful change.
• Transparent reporting: AAB’s reporting tools, including carbon footprint software, enable businesses to track and communicate progress towards sustainability goals effectively. By setting transparent and standardised metrics, businesses can enhance accountability and build trust with stakeholders.

If you have any queries or are looking to find out more about our ESG service offering please do not hesitate to get in contact with Alasdair Green, or our ESG Team.

AAB short-listed for prestigious Tolley’s Taxation Awards

Tech-enabled, business critical services group, AAB, has been shortlisted for the Best Private Client Tax Practice award, in the coveted UK-wide Tolley’s Taxation Awards 2024.

The Group’s Private Client team are set to attend the glittering awards dinner in London on 16 May. The Awards celebrate exceptional achievements, unwavering commitment to the industry, and groundbreaking contributions to the tax industry.

The Private Client (PC) team, which consists of 66 entrepreneurial, highly-skilled advisors from across UK and Ireland has been instrumental in AAB’s organic growth.

Success has been fuelled by record client wins over the past financial year, both in terms of quality and quantity of new clients. The team also grew by an additional 12 people, enhanced by strategic acquisitions, new hires, seamless team integration, and fostering talent from within, ensuring they have the requisite skills and resources to meet demand.

Well-positioned to support clients with innovative value accretive solutions and strategic tax advice, the PC team works with a global portfolio of entrepreneurs, high net worth individuals and families, family companies,  international private clients, trusts and estates.

A dedicated PC leadership team of 24 supports the multi-disciplinary, cross-jurisdictional teams, excelling at entrepreneurial and cross-border tax planning, International advice, trusts/estates, worldwide/offshore disclosures, asset restructuring and wealth protection.

Utilising their significant levels of tax expertise, the PC team has contributed to both organic growth and service excellence at AAB Group.

Paula Fraser, Head of Private Client, leads the team. She said:

“At AAB we are exceptionally proud of our Private Client team, so being short-listed for the final of the Tolley’s Taxation Awards by a panel of our esteemed industry peers is a truly gratifying experience.

“Our team excels, with an ability to quickly see to the heart of the matter and demonstrate a positive and commercial approach to working up a bespoke solution.

“Progress is driven by our all-in-one client services strategy– combining seamless compliance, proactive tax transformations, innovation, teamwork, strategic partnerships, and technology to maximise client satisfaction. We consistently go above and beyond in devising tax solutions for our clients, capitalising on new technology, harnessing AI, and adapting to the evolving role of tax. Success is measured by how we help clients achieve their goals.

“We are looking forward to celebrating with our fellow finalists at the Tolley Taxation Awards ceremony next month, and wish everyone the best of luck!”

Bumper Round of Leadership Promotions Recognises AAB Top Performers

AAB, the tech-enabled business critical services group, has announced that 10 members of its team have been promoted to senior leadership positions in the group, as part of a wider promotion round across offices in the United Kingdom and Ireland.

Amanda Ollason, Corporate Tax Partner, Graeme Penman, Audit Partner and Stuart Rose, Audit Partner all joined the business in 2008 through the AAB Group graduate programme. During that time each has pursued their individual progression, while supporting an ever-growing client-list as the group continues to evolve and expand.

Linda Kelly has also been promoted to Payroll Partner. She joined French Duncan in 2001, before becoming part of the AAB team in April 2023, when French Duncan was acquired by the rapidly expanding group. The four new Partners have a combined service of 65 years with the company.

In addition to the Partner promotions, six team members across the group have also been promoted to the role of Director:

• Aveen McShane, Business Advisory Director – Newry
• Caroline Butler, Corporate Tax Director – Dublin
• Claire Walker, AAB People Director – Edinburgh
• Gregor McCallan, Corporate Tax Director – Aberdeen
• Jenny Buchanan, Virtual Finance Function Director – Aberdeen
• Sarah-Jane Murphy, Business Advisory Director – Newry

A further 46 team members have been promoted across the wider AAB organisation.

Emma Lancaster, Chief Executive Officer at AAB Group commented: “As a group we pride ourselves on our commitment to developing our people, and this promotion round is no exception. Amanda, Graeme, Linda and Stuart have all demonstrated superb leadership, and I’m delighted to see them progress to Partner. I look forward to working with them, and our newly appointed Directors, as we continue to deliver unparalleled services for our clients.

“What a fantastic way to kick-start 2024, by recognising the expert knowledge, commitment and dedication of 56 team members with these well-deserved promotions across our office locations.”

Since securing investment from August Equity in October 2021, AAB Group now employs c1,000 people across 12 office locations in the United Kingdom, Ireland and the United States.

TAG Alliances membership expands global reach of AAB Payroll

AAB Payroll Inc, a leading provider of comprehensive payroll solutions across the USA, has recently affiliated with TAG Alliances – a global multi-disciplinary alliance of high-quality, independent professional services firms. 

Becoming a Best Friend of TAG Alliances is poised to enhance AAB Payroll Inc’s global reach and collaboration opportunities. 

AAB acquired its US payroll partner Dominion Systems Inc, including its highly sophisticated US payroll software and experienced US payroll team, in March 2023, when it began trading as AAB Payroll Inc. 

By becoming a Best Friend of TAG Alliances, AAB Payroll Inc will foster connections with top-tier law firms, accounting firms, and other professional service providers worldwide to support businesses trading in any state with payroll and employment taxes. 

Chris Andree, President of AAB Payroll Inc said: “We are thrilled to join TAG Alliances as a Best Friend, a move that aligns seamlessly with our commitment to delivering exceptional payroll services on a global scale.  

“This partnership not only opens up new avenues for collaboration, knowledge-sharing, and innovation within the professional services landscape, but also underscores our dedication to staying ahead of the curve when it comes to industry trends and best practices, while providing clients with seamless and efficient payroll solutions.” 

As a Best Friend of TAG Alliances, AAB Payroll Inc will gain access to an extensive network of professionals, facilitating cross-border collaboration, knowledge exchange, and the ability to address the unique challenges of an ever-evolving global business environment. 

Richard Attisha from TAG Alliances commented: “We are delighted to welcome AAB Payroll Inc as a Best Friend and Strategic Partner of TAG Alliances. Their expertise in payroll services adds significant value to our network, and we look forward to a fruitful collaboration that will benefit our members and their clients alike.”