Moore Stephens in Brisbane and Pickards BDS today announced the merger of the two firms, creating a formidable new force in the accounting and business advisory marketplace in Queensland.

Following the merger, on 1 July 2007, the new firm - Moore Stephens Queensland - will have more than 175 staff across 7 offices throughout Queensland including Brisbane, Townsville, Cairns, Tully, Innisfail, Ayr and Home Hill.

Mr Ken Pickard, Managing Partner of Pickards BDS, said the merger will establish a unique, major accounting and business advisory firm with the ability to deliver services across the whole of the state. "The combined firm will be the sixth largest Queensland firm with a full range of services," he said. "We see the merger as being particularly important for the accelerated growth of our audit, forensic, tax and financial planning divisions - and the synergies in our expertise in the rural, construction and property industries will result in enhanced opportunities for the new firm," he added.

"An added bonus was the excellent fit between Pickards’ office in Brisbane and Moore Stephens in Brisbane," Mr Pickard added. "This will give us the scale to build on Pickards’ excellent regional knowledge, network and expertise.

"And, of course, we will also have access to the outstanding Moore Stephens network in Australia and around the world which means we can grow and develop beyond regional Queensland," Mr Pickard said.

Mr Kevin Blinco, Managing Partner of Moore Stephens in Brisbane, said greater depth of resources and technical strength delivered by the merger were the key drivers of the deal. "We believe the merger of these two great firms will provide us with significant opportunities to strengthen both our service offering and the delivery of that offering to our clients," he said.

"For Moore Stephens in Brisbane, the merger with Pickards means we can leverage off its impressive local knowledge and better service our clients across Queensland," Mr Blinco added.

Mr Kevin Neville, The Chairman of Moore Stephens Australia, welcomed the merger as an outstanding development for the network. "Pickards is a quality firm made up of exceptional professionals," he said. "The two firms complement each other remarkably well and this merger will boost the Moore Stephens network towards our goal to be the first-choice mid-tier network in our chosen markets."

Moore Stephens Queensland will adopt a corporate structure including a Board with an independent Chairman. Mr Neil Summerson, current Chairman of Pickards BDS and a former Managing Partner of Ernst and Young, will be the inaugural Chairman. Other members of the initial Board will include two executive members from Moore Stephens Brisbane, two executive members from Pickards BDS and two independent/non-executive members. The Chief Executive Officer of the merged business will be Mr David Kippin, currently CEO of Pickards BDS.