AAB boss outlines plans to double size of the business

Graeme Allan, managing partner at Aberdeen-headquartered accountancy practice Anderson Anderson Brown has spoken of the firm’s ambitious plans to grow and expand throughout Scotland following one of its busiest ever years.

Last year saw AAB increase its headcount and double revenues, which currently sit at about £22 million.

The summer of 2016 also saw the firm move to a new purpose-built 45,000 square feet headquarters building at Prime Four Business Park, Kingswell, providing roughly twice the space of its previous base in the Granite City’s Queens Road.

The growth that has already taken place means AAB already employs 250 staff across the firm, headed by 13 partners.

Mr Allan said this headcount is set to grow further, alongside the increase in fee income, although not necessarily at the same pace.

“I think we will need 25 partners to achieve what we are trying to do,” he explained. “It’s maybe not as straightforward as doubling the overall headcount.”

Mr Allan, who cut his teeth in the industry as part of global giant PwC’s Edinburgh operations prior to joining Stephen Hay & Associates as a senior manager, has told the Scotsman newspaper that last year’s developments constitute a key part of a 15-year growth project for the business.

Speaking to the paper, Mr Allan outlined his plans for the future: “There has been a significant investment by the partners to give us a platform that allows us to grow the business the way we want to. We recognise that not all of that growth is going to come from Aberdeenshire. Undoubtedly the Central Belt will be one of our target areas from a geographic perspective and I suspect that London will be an attractive option for us at some point,” observes Allan.

“As a firm we have grown horizontally with 37 different service lines. That has been supported by clients who want access to all of these services under one roof. To double in size we will need to enter into new markets. There are a couple of options to achieve that target of doubling the business. We could merge somebody into the business or grow organically as we have done until now.”

Mr Allan also noted that the spectre of Brexit is something that could impact on his plans but has to be seen as a challenge to be met head-on: “I can’t say I was a supporter of Brexit,” he said. “We have ended up with a lot of uncertainty, and we really need to see what develops. However, the country has voted that way and we have to make the most of it now. Anything that creates an environment where advice is required is obviously right up our street and with sterling under pressure you can also see where acquisitions would be good for overseas investors.”