The global accounting, audit and tax network, Russell Bedford International, has reached a monumental milestone, marking its 40th year.
Since 1983, the Russell Bedford group of professional services firms has provided financial expertise and business consultancy to companies and business owners in an array of markets and industries.
Established by London member firm, Lubbock Fine, Russell Bedford International has grown from humble beginnings to become the organisation it is today, one that strives for excellence above all else.
At its inception, Russell Bedford had a modest footprint, setting out with a presence in a handful of countries. Since then, it has seen much change and continued progress, as growth and development took centre stage in the network’s strategy.
Geoff Goodyear, who was a driving force behind the network, and served as Chair of Russell Bedford for 18 years from 1996, said: "From small beginnings, the Russell Bedford network has seen impressive growth through the years, bolstered by the appointment of Kempton Bedell-Harper in 2000. Network membership more than doubled in the following ten years and by 2010, Russell Bedford was represented by 81 member firms, while its country presence expanded from 29 to 80 countries.”
Quality assurance became a priority in the early 2000s, with the network taking steps to develop an audit quality control system. The organisation successfully implemented a globally coordinated quality assurance programme in 2007, leading to Russell Bedford International being named one of the first full members of the IFAC Forum of Firms in 2008.
In 2013, the network appointed its first CEO, Alan Bezzant and by 2016, it had reached a significant milestone of 100 member firms. Stephen Hamlet succeeded as CEO in 2017, leading to considerable change and further substantial growth in the subsequent five years, including a brand relaunch and creation of Russell Bedford’s slogan ‘taking you further’.
Laurence Newman, partner at Lubbock Fine and Russell Bedford’s finance director on the global board said: "In my extensive association with Russell Bedford, I’ve enjoyed watching the network grow from strength to strength, while developing great business relationships and friendships along the way. The appointment of Stephen Hamlet has undoubtedly been a great success and he has added another dimension to the development of the organisation.”
Today as Russell Bedford continues to grow, it is recognised as a Top 20 global accounting network, with a global fee income of more than USD 750 million. It is represented by 1000 partners, over 9000 staff and some 350 offices in 110 countries.
Colleagues and clients can expect to see further communications, with exciting celebrations to commemorate this very special occasion, throughout the year.
Speaking about the milestone, Russell Bedford’s CEO, Stephen Hamlet, commented: "This is a significant moment for Russell Bedford. I feel privileged to be part of a network that is steeped in so much history yet refuses to stay still, continuously flourishing to new heights. I am confident that with our ambitious mindset and with the support of our global colleagues, along with recent new recruits, the Russell Bedford network will continue to see the consistent growth to which it has become accustomed.”