Baker Tilly International Announces Expansion of Global Brand in the US
20 Aug 2008
Baker Tilly International, the 8th largest worldwide accounting and business services network, announced today that discussions are underway with Virchow, Krause & Company, LLP to pursue a name change that would make it the exclusive US branded firm in the Baker Tilly International Network. The Virchow Krause partners have voted unanimously to seek regulatory approval to change the name of the firm to Baker Tilly, LLP.
Virchow Krause, an independent member of Baker Tilly International since 1999, and the 15th largest CPA and Consulting firm in the US,* is the largest independent US member firm in the Baker Tilly International Network. The firm will maintain its independent member status and will not assume any management responsibilities within the network as a result of the name change.
In making the announcement, Geoff Barnes, CEO and President of Baker Tilly International stated, "The independent members of Baker Tilly International desire to develop the brand worldwide, and as the largest US member firm, Virchow Krause became the logical choice to carry the brand in the US. Discussions ensued and Virchow Krause was extremely interested in pursuing this opportunity."
Tim Christen, Virchow Krause CEO, said the decision to move forward in the discussions was met without hesitation. "The world is becoming smaller and many of our current clients, and the new clients we're engaging, are involved in international commerce," he said.
"Representing the Baker Tilly Global Brand in the US will strengthen our ability to provide clients with seamless resources and benefits as they develop business abroad." Virchow Krause is not merging with Baker Tilly, the UK member firm, or any of the network's independent member firms, nor is it being acquired. "We are simply moving forward to change the name of the firm," Christen stated. No official name or implementation date will be established until all regulatory and compliance standards have been met.
According to Christen, consideration of a name change is part of Virchow Krause's long-term global branding strategy. "The firm has extensive international capabilities in-house, but the common international brand will greatly reduce the confusion that often occurs when collaborating with other independent member firms throughout the world to serve client needs," he said.
"Virchow Krause has long been a leader in the accounting profession," said Jim Castellano, Chair of Baker Tilly International and past Chair of the American Institute of Certified Public Accountants. "Their solid reputation for excellence will play an important role in the continued growth of the Baker Tilly brand throughout the US, and the continued success of all of its independent members around the world." With staff totaling more than 1,300, Virchow Krause provides a wide range of accounting, tax, assurance, and consulting services. The firm has offices in Chicago, Detroit, Minneapolis, and throughout Wisconsin. The name change will have no impact on any of the firms existing office locations.
Baker Tilly International is a worldwide network of 144 high quality, independent accounting and business services firms in 108 countries, with more than 24,000 staff. The combined worldwide revenue of independent member firms exceeds $2.7 billion.
*According to Public Accounting Report's "Top 100 of 2007"
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