RSM adds restructuring & insolvency firm Brooke Bird in Melbourne
Professional services firm RSM has boosted its insolvency and restructuring expertise through the addition of Melbourne-based specialists Brooke Bird.
Based in the inner-city suburb of Camberwell, Brooke Bird has provided insolvency services to individuals and corporate clients for more than 50 years, with around 70 ongoing engagements to transfer to the books at RSM from the start of the month.
Brooke Bird is led by Adrian Hunter (formerly at PPB Advisory and Ferrier Hodgson), who joins RSM as a partner, while the firm's other partner, Robyn Erskine, crosses to RSM as a senior consultant.
“In the face of challenging business conditions and rising insolvencies among businesses of all sizes, the integration of Brooke Bird into RSM helps us meet the growing demand for restructuring and insolvency services among our clients and the mid-market sector,” stated outgoing chief executive partner Jamie O’Rourke.
O’Rourke noted RSM had been building up its restructuring & recovery practice in Melbourne into a full-service provider over the past four years, and the addition of Brooke Bird would see the division double in size with a 16-strong headcount attending to more than 200 active assignments and bringing in $5 million in revenues per annum.
“As trusted advisors within the industry, Adrian and Robyn bring a wealth of knowledge and experience to our practice that will no doubt build on this position, working alongside Jonathon Colbran and Tristana Steedman to meet the needs of our Melbourne clients.” O’Rourke continued, pointing to the dramatic rise in administrations.
Administrations
According to RSM, the number of Australian companies entering administration so far this financial year is up by more than 20 percent compared to the previous period, totalling some 12,000 distressed businesses. The post-Covid collapses of building firm Langford Jones and gourmet food-delivery outfit Providoor are among RSM’s high-profile local appointments.
Led by Frank Lo Pilato out of Canberra, RSM’s national restructuring & recovery business now boasts almost 100 practitioners across the country, including those based in the recently-launched practice in Adelaide, while the Brooke Bird bolt-on in Melbourne will see the local team grow to four registered liquidators and three trustees.
Like Hunter, Erskine brings more than three decades worth of industry experience, and is noted as being the first woman to have served as president of what is now ARITA. Her time leading the professional body and wider contribution to the accounting sector have seen Erskine recognised as a Member of the Order for Australia (AM).
“Throughout my career, I’ve seen how vital it is for individuals and businesses to seek the right advice as early as possible,” Erskine said. “We’ve been at the front-line of financial distress for decades, and this unique position gives us a window into the business community that few others have; insight we’re proud to bring to this new chapter.”
Hunter adds; “Joining RSM represents a significant opportunity to expand our impact and support even more clients across the country. With insolvency appointments on the rise, the need for trusted, practical restructuring advice is greater than ever, and I look forward to working with my new colleagues to meet that challenge head-on.”
