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Friday, Jan 27, 2023
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RSM to Keep Staff Following Deal

RSM McGladrey, an Indiana-based financial services firm with San Diego offices, said its acquisition of American Express Tax and Business Services completed in August should not result in any layoffs at the purchased firm.

“Our intention is to retain all the employees that we can. These are professionals that are in very high demand now, and we don’t want to lose anyone,” said Benjamin Boyer, a spokesman for RSM.

With the acquisition, RSM’s total employment in San Diego is 80, including 58 at an RSM office in Mission Valley and 22 at an American Express office in the University Towne Center area, Boyer said.

On a national level, the purchase means the addition of 2,500 new employees to RSM’s payrolls, bringing its total head count to about 7,000 persons.

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RSM, together with its accounting partner, McGladrey & Pullen LLP, now has more than 100 offices in 63 markets, and total revenues of more than $1 billion, making it the fifth-largest accounting firm in the nation.

RSM, a subsidiary of H & R; Block Inc., focuses on middle market businesses.

H & R; Block paid $191 million in stock for American Express Tax and Business Services in a deal that closed last month.

, Mike Allen

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