During the 2019 World Conference held in Rome, three Latin American firms were celebrated as winners in the Member Firm Growth Awards: Costa Rica, Mexico and Brazil. Despite many political changes and numerous tax reforms, our partners in the region are managing to find new opportunities and navigate through changing business environments.
With a 66% increase on fee income in 2018-2019 amongst firms with a total fee income below US$ 10 million, RSM Costa Rica was one of the Latin America award winner firms. According to Thomas Alvarado Acosta, Managing Partner, “The key factors for our growth last year were based on our ability to sustain our audit portfolio with a reasonable growth, while at the same time achieving extraordinary growth in other less traditional services. Among those services were BPO, tax advisory and corporate finance, which had a very small base the prior year. At the same time, internally the firm worked to be more efficient and be able to attend the increased demand on services”.
With a spectacular 283% increase in fees, RSM Brazil was also an award winner at the World Conference amongst firms with a total fee income between US$10 – $30 million. According to Marcelo Conti, Managing Partner, “The three factors for our increase in 2019 were:
- Solid and sustainable organic growth in all line of services: Audit – 34%; Tax – 42% and Consulting – 46%. We have opened two new offices in regions of the country that we were not present in before.
- Merger with a large BPO Company with young and motivated leadership with focus on international clients and a fast growth history.
- The incorporation of an IT Consulting Company”.
For a second year in a row, RSM Mexico maintains significant growth, with a 29% increase which represents the second largest percentage increase in fee income for 2018-2019 amongst firms with a total fee income over US$30 million. According to Alfonso Elías Bornacini, Managing Partner, “This was only possible thanks to a strong commitment from all our partners and team, even though our economic outlook was not great. Also, investment in new service lines are starting to bear fruits which helped to overcome the shortcomings in some of our regions”.