Russell & Russell shakes up top team and eyes deals

Steps to growth: Alastair Russell, Stuart Clark, Rosslyn McMaster, Ian McMonagle, Ken Russell

Accountancy and business advisory firm Russell & Russell has restructured its senior management team and targeted acquisitions.

Stuart Clark has been appointed managing director of the Glasgow-based firm, which was set up in 1976 by Bert Russell and his son Ken whose younger brother, Alastair, has become chairman.

Mr Clark qualified as a physiotherapist, switching career a year after graduation to join the Edinburgh office of accountancy firm Johnston Carmichael in 2005. He joined Russell & Russell in 2012.

He said: “In the next three to five years, we would like to triple our turnover and this growth could well come through acquisitions, as we believe the shift towards Making Tax Digital will lead some of our competitors who are nearing retirement to exit the accountancy profession.”

He and his fellow directors, Rosslyn McMaster and Ian McMonagle, have acquired shares in the business with the intention of adding to their holdings.

Ms McMaster has been at Russell & Russell nearly 20 years, having originally joined the firm in 2000 as an administrative assistant. She was made a director in 2014.

Mr McMonagle, a qualified chartered tax adviser and member of the Chartered Institute of Taxation, spent 12 years at HMRC and has more than 40 years of taxation experience. He joined Russell & Russell in 2006.

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