RSM reports 15.8% revenue growth, promotes 83 to partner and principal in US

RSM International reported $7.26 billion in revenue for 2021 on the back of rising global demand for consulting services. RSM US, meanwhile, announced the promotion of 83 team members to partner and principal, effective January 1.

RSM’s global revenues rose 15.8% from $6.3 billion in 2020 to $7.26 billion in 2021, as a rebounding global economy and lingering pandemic challenges drove demand for professional services.

The accounting and consulting network’s revenue growth was powered by its consulting services line, which grew fees by a healthy 38.2%. General business consulting services grew by 128% year-over-year as clients sought out support in business process outsourcing, automation, and supply chain resilience.

RSM’s accounting service line grew by 18.7%, tax grew by 8.4%, and audit grew 7.6%.

North America recorded 15% revenue growth, with consulting services growing by a blistering 50% in 2021. RSM’s Europe and Africa regions also had 15% revenue increases, while the Middle East grew 23%, Asia grew 20%, and Latin America grew 11%.

Jean Stephens, global CEO of RSM International, said, “RSM Professionals from around the world have worked exceptionally hard to empower our client base of highly dynamic, entrepreneurial, and ambitious businesses to thrive during this challenging time. This has required new perspectives, innovative approaches and a forward-looking gaze to ensure company owners, boards and leaders are primed for growth in the new business age. Our outstanding financial results reflect this pace of change, and our unwavering commitment to supporting the growth ambitions of today’s leading businesses.”

RSM US, meanwhile, announced the promotion of 83 team members to partner and principal, effective January 1.

“We’re appreciative of the contributions these individuals have already made to the firm, and we look forward to the positive impact they will have as they move into this next phase of their careers,” said Joe Adams, managing partner and CEO of RSM US.

The US member firm promoted 28 people within its consulting business, the growth engine of RSM and many other accountancies as audit and tax lines continue to be outstripped by client needs to evolve business models and organizational technologies.

The consulting line promotions include: