Boston and Peabody, Mass. and Portland, Maine – In a joint statement, Baker Newman Noyes (BNN) and Shatswell, MacLeod & Company, P.C (Shatswell MacLeod), a MA-based accounting firm that specializes in community banking, announce that the external audit and tax practices of Shatswell MacLeod and BNN will join forces under the BNN umbrella. The transaction is expected to be completed on July 1, 2015. Glen MacLeod, CEO of Shatswell MacLeod, along with his other partners, John Marsh, Kevin O’Brien and Joseph Jalbert, will become audit principals at BNN. John Fitzgibbons, the leader of Shatswell MacLeod’s tax practice, will also join BNN.
“We’ve known Shatswell MacLeod for a long time – their firm is a respected leader in the community banking space,” said Eleanor Baker, BNN’s Managing Principal. “We welcome their team’s focused approach to client service, deep experience and expertise as we grow this practice area together to meet the increasing needs of the financial services sector in New England and beyond.” BNN already serves a diverse banking client base that includes commercial and savings banks, credit unions, trust companies, and investment advisory firms.
“We are excited to join a firm that shares our focus on high-level client service. Combining our two firms’ external audit and tax practices brings an even higher level of expertise, support and attention to our valued clients,” MacLeod said.
All of the employees of Shatswell MacLeod’s external audit and tax practices will become employees of BNN and continue to operate out of the existing Peabody and Springfield, MA offices, further expanding BNN’s presence and commitment across Massachusetts.
In a separate transaction, Shatswell MacLeod will be spinning off its well-known internal audit, IT and regulatory compliance practice areas. Tom Jendrysik, a current partner in the Internal Services Division of Shatswell MacLeod will be taking the lead. This re-alignment is targeted for completion on July 1, 2015 and will give both firms a better opportunity to serve clients.
Baker Newman Noyes is ranked by Inside Public Accounting as one of the top 125 firms in the U.S. The firm currently has more than 200 employees, including 34 principals. This news comes on the heels of the merger with William Steele & Associates, P.C., which went into effect January 1 of this year.
Banks and other interested parties may access BNN’s industry newsletter at: www.bnncpa.com/resources/newsletters/banking_financial_services_insights.
About Baker Newman Noyes
Baker Newman Noyes is known nationally as a leader in the accounting and consulting profession, with offices throughout New England in Boston, Manchester, Portland, and Portsmouth. The firm supports a variety of clients with a special focus on banking and financial services, healthcare, not-for-profit, manufacturing and distribution, public sector entities, privately held and family-owned businesses, and high net worth individuals. Baker Newman Noyes is an independent member of Baker Tilly International.www.bnncpa.com
About Shatswell MacLeod
Shatswell, MacLeod & Company is one of the most respected certified public accounting firms in New England, with dedicated service to the banking industry since 1903. The firm has achieved an excellent reputation within the region’s banking community. While specializing in providing accounting, tax and management advisory services to the banking industry, Shatswell, MacLeod also offers its clients business consulting, information technology consulting, compliance and internal audit reviews. www.shatswell.com