MSI sets pace with 35 per cent annual growth

MSI Legal & Accounting Network Worldwide (MSI) achieved the fastest 'organic growth of the top 20 professional services networks in 2003.

(PRWEB) January 31, 2004 --As reported in the International Accounting Bulletins recent World Survey, MSI grew by 35 per cent last year, taking its combined annual fee income to US$867M, and the number of constituent lawyers and accountants to just over 6,000.

In contrast to the top 20 network which grew faster, MSIs growth was 'organic as it was achieved from 'within and through the appointment of individual member firms, rather than through merger or acquisition.

The network also increased the number of countries in which it is represented to 90, with new member firms appointed in Bolivia, El Salvador, Finland, Israel, Latvia, Nigeria, Saudi Arabia and Swaziland.

James Mendelssohn, Chief Executive, says: Another year of strong growth can be attributed to our ability to attract strong local firms to the network, in some cases ex-Big Four firms, and also to accounting members taking advantage of the opportunities created by regulatory change, particularly the Sarbanes-Oxley Act in the U.S.

"Clients of significant size are waking up to the fact that they dont particularly need to use one of the larger international firms as strong local firms with an international link can provide an attractive alternative and levels of personal service and value for money that cant be matched by the larger firms."
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