FOR IMMEDIATE RELEASE: November 5, 2019
CONTACT: Nancy Damato, President, Accountants Advisory Group, LLC firstname.lastname@example.org and 917-921-6768
MGI Worldwide & CPAAI Merge to Create a Major International Accounting Network
New York, NY: MGI Worldwide, a global network of independent audit, tax, accounting, and advisory firms, headquartered in the U.K., and CPA Associates International (CPAAI), headquartered in the U.S., have announced that they will merge, effective on January 1, 2020. The newly created organization, MGI Worldwide with CPAAI, will have more than 250 accounting, tax, and advisory member firms in almost 100 countries throughout the world. The new organization will have revenues approaching $1 billion, placing it in 16th position in the current global accountancy network ranking. The merger agreement was recently finalized at MGI Worldwide’s Annual Global Meeting in Dubai, UAE. Members of both organizations throughout the world utilized the latest technology to participate, vote, and view the proceedings via live streaming.
MGI Worldwide and CPAAI are highly complementary in terms of culture and client service philosophy. They were both formed more than 60 years ago and are well-established and active in their markets. The combination offers clients access to more than 9,000 professionals with specializations in a wide range of audit, tax, and advisory services, additional industry expertise, and significant resources in a larger geographic footprint. The merger provides member firms with a full array of new benefits, access to more business opportunities, wider global scope, technology exchange, and stronger brand recognition.
Clive Viegas Bennett, CEO of MGI Worldwide, said, “This merger greatly strengthens the already solid market positions of both organizations and enhances our global reach, knowledge base, member offerings, and services to valued clients. Our new global and regional management team will provide the leadership to take the combined organization to greater levels of success. The shared goal is to help keep all members up to date on the latest technical and business developments, exchange business ‘best practices’ and expertise, and deepen our strong regional structure.” Bennett added, “In addition to helping both organizations retain our existing excellent member firms, the merger will also assist in attracting new member firms who are looking for a different approach and greater support from a global international network.”
Michael Parness, the President of CPAAI, stated, “Our organization and MGI Worldwide have a lot of synergies, shared values, and a similar client base. We are very excited about this merger as it increases our global scope and helps our members and clients become ever more interconnected. Clients remain at the heart of all members’ firms and their goals and objectives are always paramount. The merger ensures that they will have additional ‘trusted advisors’ to call on for the industry expertise and support they need – regardless of where they operate in the world.” Parness added, “We are confident that the future will be very positive for our newly formed organization and we are looking forward to developing new connections and implementing new strategies. We will create an environment for all members, and our clients, to grow, succeed, and flourish in this competitive marketplace.”
The new group will be co-chaired by Roger Isaacs, the Chairman of MGI Worldwide, and Jim Holmes, the International Chairman of CPAAI. Clive Viegas Bennett will serve as Chief Executive Officer, with Michael Parness as Chief Operating Officer. The organization plans to hold additional regional meetings for its members in North America, Latin America, Europe, UK & Ireland Africa, Asia, Australasia, and the Middle East.
For additional press comments and information, please contact Nancy Damato, President of Accountants Advisory Group, LLC at email@example.com or 917-921-6768.
Clive Viegas Bennett, CEO, MGI Worldwide – With a broad and deep career background, Clive has acted as the CEO of MGI Worldwide, the major global accounting network, for more than half a decade. Clive has deep multicultural skills with an MA and an MBA and is a CIOL qualified linguist, speaking fluent Portuguese, French, and Spanish, as well as, his native English. He divides his time between Lisbon, London, and worldwide travel to meet with MGI Worldwide members.
During his tenure with MGI Worldwide, Clive has launched major market-focused strategic initiatives, introduced global quality assurance, and transformed the former alliance into a network. Prior to joining MGI Worldwide, Clive was the Managing Partner of a leading executive search firm in Portugal, the Managing Director of a large shipping agency, and has worked in a senior position in the House of Commons in the U.K.
Michael Parness, President, CPAAI – Michael has spent his career in business management positions, both in the financial services and accounting industries. He holds an BA and an MBA, is based in New Jersey, and travels widely for CPAAI. At the helm of four distinct businesses his successes have come as a result of unique strategic and tactical planning. As President of CPAAI, Michael’s primary focus has been on the growth of the organization, while maintaining a culture of best practices and business development both within and among its members.
Roger Isaacs, Chairman of MGI Worldwide – Roger has several decades of experience in the accountancy profession and was recently named ‘Partner of the Year’ at the British Accountancy Awards. Roger is a Partner with Milsted Langdon in the U.K. specializing in insolvency, mediation, and forensic accounting. His expertise is regularly called on by the Courts, other professionals and the press, as well as, by his fellow MGI Worldwide members.
Jim Holmes, International Chairman of CPAAI – Jim began his accounting career with Vrakas CPAs + Advisors in Milwaukee, Wisconsin in 1985. He progressed to the roles of Managing Shareholder and President and is responsible for key strategic management and decision-making activities for the CPAAI member firm. Jim attributes his success to his ongoing commitment to furthering his knowledge in the accounting industry, which he frequently shares as a speaker.