- RSM achieves 18.5% growth in Asia Pacific, marking its highest ever revenue in the region
- Regional innovation hubs attract business investment and top talent
- Helping businesses through succession becomes key area of focus as first generation leaders seek exit
- Results announced in tandem with new global growth strategy
RSM, the leading provider of assurance, tax and consulting services to middle market businesses, has grown by 18.5% in Asia Pacific (APAC), with annual revenues surpassing $1billion for the first time.
The rapid growth was primarily driven by increased demand for IT consulting and risk advisory services as well as corporate finance support. This has seen RSM’s firms in APAC increase their headcount by more than 1,600 people in the last 12 months, 1as well as the addition of a new firm in Japan, RSM Shiodome Partners.
M&A and corporate transactions have been a major source of growth for RSM in APAC. RSM has recorded combined growth of 43% in its corporate finance and financial due diligence services. Business succession solutions have also come to the fore, as a generation of established business leaders prepare to exit.
RSM’s IT consulting services in the region grew by 27% as businesses embraced digital solutions and data-led projects to drive long-term growth and stability. And as the proliferation of cyber threats continues to grow, RSM’s risk advisory services across APAC saw growth of 25%.
In addition, RSM’s audit services grew by 19% and tax by 18% in 2022.
Jason Yau, Regional Leader for Asia Pacific at RSM, commented: “Change has been the single common thread running across businesses in the region over the past year. Whether implementing long-term pandemic recovery and growth plans, targeting the top talent now available in our region’s emerging innovation hubs, or planning ahead to strengthen leadership teams, our clients are laser-focused on evolution and how best to unlock opportunity because of change.
“This has coincided with the rise of regional innovation and manufacturing hubs as businesses seek alternative sourcing and exporting opportunities outside of China. From Singapore to Sydney and India to Indonesia, we have seen regional hubs drawing businesses and talent out of more traditional economic centres in APAC.”
2030 Global Strategy marks new era for RSM
Launched this month, RSM’s 2030 Global Strategy outlines a major multi-year growth and transformation programme that targets 100% growth in revenue by 2030. Through the Strategy, RSM will make increasing use of global, digital delivery models, enhanced insight generation and wider use of automation, big data, machine learning and artificial intelligence to support businesses through change.
RSM’s Strategy will further unite its firms under common international methodologies and structures that enable it to continue to drive service quality and promote responsible business practice, whilst constantly enhancing agility and innovation. With an ever-increasing global client base of growth-orientated, internationally-minded companies, RSM remains focused on ensuring they receive exceptional client-service, expert human insight powered by technology, and compelling, tailored solutions.
The strategy will see significant investment in talent and transform RSM into a seamless global organisation, with teams, culture, governance and processes actively aligned across borders to empower both clients and RSM people to achieve their ambitions.
Jason Yau added: “Our rapid growth in Asia Pacific is being replicated in many parts of the RSM network as we support businesses through unprecedented change. Our new strategy will enable us to continue our transformation into a data-driven, technologically enabled, international organisation.”
Jean Stephens, Chief Executive Officer of RSM International, said:
“We have entered a new and transformative business age, characterised by data-driven technological products and services, new approaches to working, and a clear focus on sustainability and purpose. Our growth has largely been driven by our ability to meet those challenges effectively. Our mantra as an organisation is to ‘Take Charge of Change’. By building deep, long-standing relationships and giving our clients and our people what they need to make confident decisions, we will help them to be more successful. As an organisation, our own accelerated transformation will ensure our growth continues at pace, instilling within all of our clients and colleagues a fundamental confidence to thrive.”