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AAB Group / News / Page 8
AAB has appointed Debbie Connolly as Wealth Director in Northern Ireland.
This senior appointment, which follows the recent appointment of Chartered Financial Planner Tom La Dell as Wealth Director in the North of England, further enhances AAB’s business-critical client services at a time of growing demand for personal finance, retirement and tax planning advice.
Debbie, who has more than 16 years’ experience in tailored financial services, is the seventh Chartered Financial Planner to join AAB’s wealth management team since the firm’s foundation in 2011. She is a member of the Irish Ladies Fly Fishing Team, plays darts in her local league and has represented Northern Ireland in ladies pool events.
Welcoming the appointment, AAB Managing Partner – Ireland Feargal McCormack said:
“Debbie’s extensive financial services experience will add significant value to our market leading wealth management team. As a Fellow and Chair of the Personal Finance Society, and a Chartered Financial Planner, Debbie is a real asset to have on board. We look forward to working together to realise our vision of helping clients achieve the best from life through personal finance, pension savings and retirement planning.”
Andrew Dines, Head of AAB Wealth, said:
“Welcoming Debbie to the team is another key milestone for AAB Wealth. In the past year, we have doubled the number of Financial Planners in the team, extending the breadth of service we offer across all our locations. We now have Chartered Financial Planners in our offices across Northern Ireland, Aberdeen, Edinburgh and Leeds and our team’s diverse range of talent and depth of expertise allows us to deliver awesome outcomes for our clients.”
Debbie Connolly said:
“It’s fantastic to be part of the firm’s growth and I’m really looking forward to delivering for our clients and helping them to protect and take advantage of the wealth they have worked so hard to achieve.”
For more information and a full list of services, click here or contact Debbie directly on +44 (0)28 9024 3131
With 19 different categories showcasing an impressive array of winners spanning across every type and size of business here in Northern Ireland, Feargal was hand-picked by the judges to receive this special award, bestowed to the individual who has made a significant and lasting contribution not just to their own business or sector, but also to the Northern Ireland business community and economy as a whole.
On announcing the winner of the Lifetime Achievement Award, Richard Buckley, Editor of Business Eye said,
“This recipient is perfect for a lifetime achievement award and as soon as his name was mentioned by one of our judging panel, we agreed on the spot and ended the discussion … we had our winner. On a personal note, our recipient tonight is one of the most positive, optimistic, helpful and inspirational people that Brenda and I have ever had the pleasure to meet during our business life. Ladies and gentlemen, the lifetime achievement award goes to … Feargal McCormack.”
‘An award not given every year’ reminded our Awards Host for the evening, critically acclaimed broadcaster Pamela Ballantine, as she welcomed Feargal on stage in front of a 600+ strong audience. Surrounded by the support of his AAB business partners, his wife Anne and son Ruairi, Feargal joined the judges on stage to receive the prestigious award, saying:
“I am very humbled, surprised, but honoured to receive this Lifetime Achievement Award. I am very aware of the significant contribution Business Eye and its principals Richard & Brenda Buckley are making to the Northern Ireland economy. On behalf of all the award winners this evening I express sincere thanks to them and the entire Business Eye team and all the Award sponsors, especially AIB. From a personal perspective, my life has been a journey of learning and leadership experiences. Since I founded FPM (now AAB), over 30 years ago, my motivation in business, has been to create a legacy business. The recent merger of FPM and AAB will enhance the legacy of the business, by facilitating succession and transition to existing and future generations. From day one, I have been very conscious that anything we have been fortunate to achieve, has been the result of a passionate collective TEAM effort, and I express sincere thanks to all current and former AAB team members, who have helped us along the way. I am very grateful, that all my fellow AAB partners are here this evening. Our exciting journey together, has been reflected in this recognition tonight.”
“I am very humbled, surprised, but honoured to receive this Lifetime Achievement Award. I am very aware of the significant contribution Business Eye and its principals Richard & Brenda Buckley are making to the Northern Ireland economy. On behalf of all the award winners this evening I express sincere thanks to them and the entire Business Eye team and all the Award sponsors, especially AIB.
From a personal perspective, my life has been a journey of learning and leadership experiences. Since I founded FPM (now AAB), over 30 years ago, my motivation in business, has been to create a legacy business. The recent merger of FPM and AAB will enhance the legacy of the business, by facilitating succession and transition to existing and future generations. From day one, I have been very conscious that anything we have been fortunate to achieve, has been the result of a passionate collective TEAM effort, and I express sincere thanks to all current and former AAB team members, who have helped us along the way. I am very grateful, that all my fellow AAB partners are here this evening. Our exciting journey together, has been reflected in this recognition tonight.”
Above all else, Feargal acknowledged the support of his family and the experiences that have shaped his life.
Feargal concluded his speech saying:
“Congratulations to all the award winners this evening and sincere thanks and gratitude to the judges and Business Eye for bestowing the great honour of a Lifetime Achievement Award upon me this evening.”
Brian Gillan, Head of Retail & NI at AIB highlighted the importance of celebrating success especially in the current climate,
“These awards act as a fantastic showcase of best-practice, leadership and innovation given the challenges currently facing our business community. It’s more important than ever that we take a step back and shine a light on the qualities that make our local business community so successful.”
Congratulations Feargal, your team at AAB are incredibly proud of you and your achievement.
Onwards and Upwards, the AAB way.
Scroll down for all the photos and fun from the evening…
The Irish Accountancy Awards showcase ‘best in class’ and underscore profession’s fundamental role in delivering business and organisational success.
Leading cross-border accountancy and tax consultancy firm, AAB took center stage on Thursday 1st September 2022 when they were awarded Tax Team of the Year at the prestigious Irish Accountancy Awards which took place at the Clayton Hotel in Dublin.
Over 400 accountancy leaders gathered for the return of the glittering gala post pandemic to celebrate the high achievers in the Irish accounting profession and honour the teams and individuals who have been leading lights within the Irish accounting profession over the past 12 months.
Launched in 2016, the awards were hosted by Colm O’Regan, critically acclaimed stand-up comedian, columnist and broadcaster and were presided over by an expert judging panel, with 22 winners announced on the night. On receiving the award, AAB were commended for the practice’s cross-border tax excellence incorporating Irish and UK taxes.
Tax Partner, Malachy McLernon accepted the award on behalf of AAB from award sponsor, Mary Cloonan, Director of Marketing Clever.
He commented, “We are immensely proud of our team and their dedication to providing exceptional cross-border tax results to our clients across Ireland, Northern Ireland and around the world. We see every day how passionate they are about client solutions and service and it’s truly humbling to be recognised nationally by our peers in the industry.”
Since inception AAB has picked up some of the highest accolades our industry has to offer. These awards and accreditations are testament to everything we’ve achieved so far.
Take a look… at AAB’s accolades and key milestones including:
Pictured (L to R): Anne Dougan (Think People), Graeme Allan (AAB), Emer Hinphey (Think People), Feargal McCormack (AAB)
AAB, the tech-enabled business critical services group, has today (Monday 22nd August 2022) announced a key acquisition to expand the HR consultancy services offered across the group.
Think People Consulting Ltd is an HR consultancy with an annual revenue of c. £1.7million, and a team of 24 people based across Belfast and Dublin.
Established by Anne Dougan and Emer Hinphey in 2006, Think People provides support to clients across a diverse suite of HR services, people development and organisational development. The company has a wide range of clients in both the private and public sector. Both Anne and Emer are remaining with the business to support ambitious growth plans to grow the Think People business as part of AAB.
AAB already has a strong track record in this field: Purpose HR joined the group in July 2021, and within 12 months reported the doubling of both turnover and headcount.
Following investment from August Equity, AAB has begun building strong regional hubs across the UK and Ireland. In May 2022, independent audit, accounting, tax and business advisory firm, FPM, was the first in Ireland to join the group. The addition of Think People is another significant step forward as AAB builds its reputation as a diversified business critical services group in the region.
Graeme Allan, Chief Executive of AAB, commented: “This is an incredibly exciting opportunity to expand the range of HR consultancy services that we can deliver for our clients. We are delighted to welcome the fantastic team at Think People to the group, and look forward to developing our HR offering across the UK, Ireland and internationally.”
Anne Dougan and Emer Hinphey, Managing Partners of Think People added: “We are delighted to join AAB, as we share strong values with the AAB team and their approach to delivering unparalleled services. We look forward to realising the benefits of the wider group support and range of services, to bring more value to our clients, and to help us realise our shared growth plans.”
Feargal McCormack, Managing Partner – Ireland of AAB added: “Since joining AAB 4 months ago we have been getting to know the enlarged team and collaborating on some new and exciting projects. We see the addition of Think People to the group as a perfect fit to offer our clients even more services maximising their success. Our shared synergies will ensure our clients and teams will continue to benefit from our Better Together approach.”
Following the acquisition, AAB will continue to actively pursue its organic and M&A growth plans, strengthening its team with further recruitment across all locations, and continuing to identify attractive M&A opportunities which augment the group’s current activities.
Alastair, originally from County Down, Northern Ireland, previously worked for AAB Wealth for 5 years in Aberdeen before leaving in order to relocate home to Northern Ireland.
Earlier this year AAB announced a merger with a leading all-Ireland independent accountancy and business advisory firm, FPM. AAB has a team of over 120 people across 5 locations in Belfast, Dublin, Dungannon, Mallusk and Newry.
The merger has created the opportunity for AAB Wealth to expand their service offering to cover Northern Ireland and as a result, they will welcome Alastair Moore back to the AAB Wealth team.
Andrew Dines, Director & Chartered Financial Planner at AAB Wealth said: “We are delighted to be welcoming Alastair back to our team. We are well-established in Scotland and look forward to developing our client base across Northern Ireland with Alastair back on board.”
Alastair Moore, Chartered Financial Planner added: “I am really looking forward to re-joining the AAB Wealth team and working closely with my new AAB colleagues across their offices. Growing the AAB Wealth business across Northern Ireland is an incredibly exciting opportunity and I can’t wait to introduce our service to clients here, partnering with them to plan and achieve their unique personal and financial goals.”
Paddy Harty, Private Client Partner at AAB said: “We are thrilled to welcome Alastair in-house, bringing with him the vast skills and strength of AAB Wealth to the people of Northern Ireland. Alastair will be an invaluable asset to both our clients and local business owners, entrepreneurs and professionals in Northern Ireland, who have experienced a boost in personal wealth, estimated at £11bn, as a direct result of personal savings during the pandemic.”
Financial planning is a process that helps individuals make sensible decisions about money to achieve the best from life. It covers all aspects of personal finance, everything from pension planning to savings, retirement planning to investments. Put simply, it protects the wealth our clients have worked so hard to achieve. The team at AAB Wealth have developed skill, insight and understanding to financially maximise a client’s business into a legacy for future generations, while simultaneously structuring investments to boost return and keeping tax to a minimum.
A full list of services on offer are available at www.aabwealth.uk/
Launched in 2016, the Irish Accountancy Awards recognise & celebrate excellence in the accountancy profession in Ireland over the past year.
This year, AAB are finalists for not one .. not two .. but THREE of the prestigious awards! In response to the announcement, AAB Managing Partner – Ireland, Feargal McCormack says: “To be nominated for Employer of the Year, Large Practice of the Year and Tax Team of the Year is a great achievement and I can’t think of a team that deserves it more. Over the past few months our firm has undergone massive change, that simply wouldn’t have been possible without our incredible, collective team. Congratulations to all nominees, we look forward to celebrating with you all in Dublin in September!”
With a tough lineup and some strong competing nominees, we wait in anticipation for the awards ceremony in September. Watch this space …
Leading Irish independent accountancy and business advisory firm FPM today announced a merger with Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, to fast-track ambitious growth plans and create a significant regional presence across the UK and Ireland.
FPM is an independent audit, accounting, tax and business advisory firm with revenue of c£9.5m and a team of over 120 people across 5 office locations in Belfast, Balbriggan (Dublin North), Newry, Dungannon and Mallusk. The 9 FPM shareholder directors are all remaining in their current roles and will continue to drive the growth of FPM as part of the AAB Group.
AAB Group has grown rapidly in the last 12 months, following 3 M&A transactions and investment from August Equity in October 2021. FPM’s complementary geographic presence will further enhance the wider AAB Group as a key player in the UK & Irish accountancy and business services markets. The merger with FPM is another major step forward in AAB’s growth journey as it becomes a group with £50M+ revenue and 550+ team members in 10 offices across the UK and Ireland.Following the merger, AAB shall continue to actively pursue its organic and M&A growth plans, looking to strengthen its team with further recruitment across all locations, and continue to identify attractive M&A opportunities which augment the group’s current activities.
Managing Director at FPM, Feargal McCormack added:
“We are delighted to be merging with AAB. The synergies across our teams, service provision and sector specialisms, provide a fantastic platform for exciting future growth. In addition to this, we were attracted to AAB as the group has impressive global connections and experience working with high-growth SME businesses and large corporations internationally. This instantly gives us the capabilities to do even more for our clients, wherever they wish to do business across the world, whilst also providing our teams with enhanced opportunities to progress and develop as part of a larger group.”
Graeme Allan, Chief Executive at AAB commented:
“This merger is a very important milestone for the group. With FPM, we gain an impressive team with a great reputation and significant presence. There is a strong cultural fit between our firms, and at the heart of this is a passion for helping team members and clients achieve their goals, which makes us hugely excited about the opportunity this merger presents.”
On Thursday 3rd March 2022, AAB’s Transaction Services team took to the Europa Hotel in Belfast for the Insider Northern Ireland Dealmaker Awards 2022.
Celebrating alongside the region’s market leaders in transaction services, the night recognised the major transactions and professionals enabling a whole host of mergers and acquisitions in Northern Ireland, Ireland and around the world.
After a record breaking year for deals in 2021 for AAB’s Corporate Finance team, the team was honoured to be shortlisted for two awards, namely Deal of the Year (£2.5m – £10m) and Transaction Services Team of the Year for a second consecutive year after being named winners in 2021.
The Team was both honoured and delighted to be part of the winning Deal of the Year, described by the judges as ‘the outstanding deal this year.’
Winner: Investment in RGM Vent by Foresight Group (Benchmark International, Edwards & Co., AAB, HNH, TLT LLP, RP Advisory, Confidas, FWB Park Brown, Amplifi Talent, KryptoKloud, Marsh Commercial) The Judges described the investment as having, ‘substantially increased the market share of RGM, a bespoke ductwork design and installation company, and allowed it to work on larger projects. The judges felt that by increasing the scale of RGM’s operations across the UK and Ireland, and therefore contributing to the region’s economic recovery, this was the outstanding deal this year.’ Feargal McCormack, Managing Director of AAB continued by adding, ‘Team AAB is delighted to have contributed to what has been acknowledged as one of the most exciting deals of the year.’
Winner: Investment in RGM Vent by Foresight Group (Benchmark International, Edwards & Co., AAB, HNH, TLT LLP, RP Advisory, Confidas, FWB Park Brown, Amplifi Talent, KryptoKloud, Marsh Commercial)
The Judges described the investment as having, ‘substantially increased the market share of RGM, a bespoke ductwork design and installation company, and allowed it to work on larger projects. The judges felt that by increasing the scale of RGM’s operations across the UK and Ireland, and therefore contributing to the region’s economic recovery, this was the outstanding deal this year.’
Feargal McCormack, Managing Director of AAB continued by adding, ‘Team AAB is delighted to have contributed to what has been acknowledged as one of the most exciting deals of the year.’
Looking to 2022, the team are focused on the year ahead which is shaping up to be another year of award-winning deals!
For the full story, visit Dealmaker Awards 2022
Working with a diverse range of sectors, AAB’s Corporate Finance team delivered exceptional results in 2021, providing transaction assistance to deals with a combined total value in excess of £190m for leading brands and growth economy.
This represents the HIGHEST deal value in the firm’s 30 year track record in the mid-market segments across Ireland.
The team has a proven track record of delivering creative deal strategies, structured around the unique needs of each client, hundreds of times over—from corporate clients to family businesses. Testament to their success, the team are recognised as market leaders in transaction services and as a result, secured the inaugural Transaction Services Team of the Year Award at last year’s Insider Northern Ireland Dealmaker Awards.
Furthermore, AAB was recently shortlisted for a second consecutive year by the Insider Northern Ireland Dealmaker Awards 2022, for Transaction Services Team of the Year, as well as Deal of the Year. Winners will be announced at the awards ceremony on Thursday 3 March 2022.
Transactions are currently at record levels as companies take advantage of deal making opportunities, says AAB Tax Director MALACHY McLERNON.
Merger and acquisition activity accelerated last year as businesses reset their strategies following two years of intense disruption. Globally, deals in excess of $5 trillion were reported with new customer habits, digital transformation and availability of capital contributing to a record-breaking year.
“Despite risks ranging from potential new Covid-19 variants to supply chain issues, high inflation, interest rate hikes and political uncertainty, deal activity is extremely buoyant,” says AAB Tax Director Malachy McLernon. “Well-capitalised businesses are taking advantage of opportunities to consolidate their market position while proactive companies are bringing on board new skills to enhance their product or service offering.”
“Despite risks ranging from potential new Covid-19 variants to supply chain issues, high inflation, interest rate hikes and political uncertainty, deal activity is extremely buoyant,” says AAB Tax Director Malachy McLernon.
“Well-capitalised businesses are taking advantage of opportunities to consolidate their market position while proactive companies are bringing on board new skills to enhance their product or service offering.”
Queen’s University honoured Feargal McCormack today (Friday 24th September 2021) by conferring an honorary degree of Doctor of Science in Economics (DSc Econ) for services to business and commerce, in the presence of new University Chancellor Secretary Hillary Rodham Clinton.
In the degree citation, Feargal a former Queen’s graduate and past President of Chartered Accountants Ireland (2018/19) was also acknowledged for his considerable contribution to the Public and Charity sectors.
Feargal commented:
“It is a great honour to receive this honorary degree of Doctor of Science in Economics (DSc Econ) from Queen’ s University Belfast, my Alma Mater, where I have fond memories of studying economics and accounting, being the inaugural President of Queen’s University Accountancy Society (1982/83) and having been pro-active in sports administration with the Queen’s Gaelic Football Club”.
Each year Queens University celebrates the outstanding achievements of individuals by presenting honorary degrees to leading figures from the world of business, politics, sport, the arts, policing and education. The conferring ceremony took place in Whitla Hall and the honorary degree programme included the following citation,
“Feargal McCormack is a leading figure in the field of professional accounting and a past President of Chartered Accountants Ireland. A Queen’s Graduate, Feargal qualified as a Chartered Accountant with KPMG in 1986. He joined the Industrial Development Board (now Invest NI) as a Principal Officer, one of the youngest in the history of the Northern Ireland Civil Service. In 1991, Feargal established FPM Accountants LLP, now AAB. Under his leadership, the company has grown significantly and now operates out of 5 locations with over 120 employees. Feargal has also made a considerable contribution to the Public and Charity sectors.”