In a bold move that defies current market conditions, accountancy giant Grant Thornton has unveiled plans to recruit 160 new partners over the next two years, positioning itself as an outlier in a sector experiencing widespread job cuts.
Private Equity Backing Fuels Expansion
The ambitious recruitment drive comes after Grant Thornton's partners unanimously voted in favour of an investment from private equity firm Cinven back in December. The landmark deal is expected to value the firm at up to £1.5 billion, making Grant Thornton the largest UK professional services business to accept external equity investment.
This strategic shift has enabled the firm to establish what it describes as a "new benchmark for ambition in the professional services market". The transformation includes changes to the partner model, now offering "a balance of in-year and long-term incentive reward" to attract top talent.
Strategic Hiring and Financial Performance
Grant Thornton has already made significant progress toward its goal, with 40 partner appointments secured this year alone. The firm is pursuing a dual approach to recruitment, combining internal promotions with targeted external hiring.
On Tuesday, the company announced partnerships with leading recruitment specialists Korn Ferry and Wilton & Bain, while also working with an advisory firm to enhance its partner selection process across audit, tax, and advisory divisions.
The recruitment expansion extends beyond partner level, with the firm also focusing on developing its director-level talent through similar promotion and external hiring strategies.
Financial results underscore the firm's growth trajectory. In the twelve months to 31 December 2024, Grant Thornton's UK net revenue increased from £654 million to £724 million, while operating profits saw a modest rise from £146 million to £147 million.
Leadership Vision Amid Sector Challenges
Malcolm Gomersall, CEO of Grant Thornton UK, characterised 2025 as a "transformative year" for the firm. "We reimagined what the multi-disciplinary professional services partnership of the future should look like – combining equity ownership with external investment from Cinven to unlock unprecedented competitiveness," he stated.
Gomersall emphasised the firm's exceptional growth ambitions, noting that "our strong brand, unique operating model and industry-leading quality will continue to drive our momentum over the years to come."
The CEO also highlighted the rapidly changing professional services landscape, asserting that "the evolution of our business model puts us in prime position to capitalise on these dynamics."
Addressing prospective candidates, Gomersall added: "Joining our partnership means joining something genuinely unique and special, so we're excited to share this opportunity with many more people whose values and ambitions are aligned with ours."
This aggressive expansion strategy emerges as many competitors, including the Big Four accounting firms, have been eliminating thousands of positions due to profitability pressures and technological advancements. The broader professional services sector is confronting what industry observers describe as its most pivotal moment in two decades.
