Record revenue in a year dominated by consolidation and change
Combined global revenue is up 7.8 per cent to US$4.3 billion as we ended the year with just under 39,000 people working out of 706 offices across 148 territories.
We are delighted to confirm Baker Tilly International recorded another record year in 2021, with revenue growing to US$4.3 billion, representing 7.8 per cent growth year-on-year. The number of people in our global network has also grown, and we ended 2021 with just under 39,000 people working out of 706 offices across 148 territories.
Global Chair Alan Whitman said the results reflected significant activity in key markets, including the acquisition of five firms under the Baker Tilly brand in North America, expansion of territory in Africa, and substantial growth in Baker Tilly’s advisory services business where revenues grew to US$1.136 billion, representing 27 per cent overall.
Like-for-like growth in Baker Tilly’s biggest market, North America, was US$794 million, with firms recording growth rates above 26 per cent.
Other stand-out results include an 16.8 per cent growth in revenue from the Middle East & Africa, where we continue to grow our presence, adding two new territories.
Europe grew by an impressive US$221 million (19.5 per cent), where the network added its first standalone legal firm, Freeths.
In the Asia Pacific, we saw a significant rise in headcount of 12.3 per cent, while revenue grew 16.2 per cent. Latin America recorded 14.4 per cent growth.
“As we enter 2022, we are focused on growing our presence in key strategic markets, as well as continuing to engage and develop our 39,000 people, who work to support our clients, now for tomorrow,” Mr Whitman said.
“We are delighted with the strong result from 2021 and continue to build and acquire the capability in our business to respond as client needs change.”