Johnston Carmichael opens London office

Accountancy and advisory firm Johnston Carmichael has opened a London office as part of the expansion of its financial services sector offering. The new location is the first premises the firm has opened outside Scotland since it was established over 80 years ago.

Johnston Carmichael employs 800 people across its 12 locations, making it Scotland’s largest independent business advisory and accounting firm. The professional services company reported revenues of £49 million in 2018, following record fee income of £43.7 million in 2017. Looking forward, the firm is looking to strengthen its offering across all service lines.

Earlier in 2019, this saw Johnston Carmichael bolster its restructuring wing, as the UK insolvency market continued to grow, with the installation of Jenn Stewart as Restructuring Director, and head of the firm’s Dundee office. In August, the company also boosted its executive structure, with the appointment of Andrew Walker as its CEO.

Now, the accounting and advisory organisation has boosted its financial services offering, with the news it has launched a new office in London, located in the heart of the City at Birchin Court. The southward expansion of the Scottish firm sees it arrive in Europe’s leading financial hub at a time of major uncertainty, with many financial industry incumbents currently trying to plot the best way to insulate themselves from Brexit headwinds. This is driving demand for consultants in the sector, who can help clients develop strategies to cope with the rapid change on the horizon.

Andrew Walker, CEO of Johnston Carmichael, said, “Our London office is a very significant step forward for our firm. Although we already carry out a range of cross-border work, this is our first permanent geographical base outside of Scotland. The UK has a long and proud history of providing financial services; indeed, it is where some of the world’s first banks were established. We are committed to playing a bigger role in the sector and contributing to a positive, resilient industry. Our London office is central to achieving our ambitious aims.”

The locale is being spearheaded by Ewen Fleming, Financial Services Partner, who joined Johnston Carmichael in March 2019. Fleming boasts more than 30 years of experience in financial services in both industry and advisory roles. His areas of expertise include retail banking, wealth management and business consulting. Since being appointed he has led the charge on expanding Johnston Carmichael’s financial services capability and meeting growing demand for its experienced and dedicated team across the UK.

Fleming commented, “With London and Edinburgh well established as the UK’s key financial services hubs, launching an office in the UK capital is the obvious next step for Johnston Carmichael in expanding its financial services offering. It will enable us to work much more closely with our clients based in the south east of England and it’s also important to building our network of contacts, including potential new staff as we add to our growing team.”