UHY Hacker Young

Hacking it

The earliest incarnation of the accountancy firm UHY Hacker Young was founded in London in 1925 by friends Johnny Rubens and Mark Hacker.  In 1930, the firm merged with Horner, St Clair and Gotelee, and began providing tax advice and compliance services to a client base struggling with changing regulatory constraints.  In the 1960s, the firm merged with Stuart Young & Co, and changed its name to Hacker, Rubens, Phillips & Young.  In 1973, it was shortened to the more succinct Hacker Young.  In 1986, the final letter ("U") joined the fold, as Hacker Young along with United States accounting firm Urbach Kahn & Werlin created Urbach Hacker Young International, now known as UHY International, with 45 independent member firms operating across 211 offices in 72 countries worldwide.

Since 2000, UHY Hacker Young has grown substantially, with new member firms joining from across the UK and complimenting the group's fee income.  It has also spread out geographically, with northward expansion into Scotland with the inclusion of Campbell Dallas in April 2006, and new firms joining the group in Sheffield in 2007 and South Wales in 2009.

Far and wide

UHY Hacker Young offers wide technical expertise to clients which include quoted PLCs and overseas businesses, to owner-managed businesses, high-net-worth individuals, partnerships and not-for-profit organizations.  It advises on sectors including specialists in corporate finance, turnaround and recovery, corporate tax planning, personal financial advice, AIM admission and advice, VAT planning, trust and estates, Sarbanes-Oxley and internal audit.  UHY also offers a variety of sector groups advising on, amongst other things, property, motor trade and transport, freight and shipping, hotels and restaurants, charities, health care, agriculture and professional practices.

AIM-ing high

Since the Alternative Investment Market's 1995 inception, UHY Hacker Young has helped companies prepare for listing, and for continued public life, on this stock exchange.  Today the firm punches above its weight in this arena; it was recently listed as the 12th-largest auditor of AIM-listed firms, an impressive achievement given its standing as the UK's 19th-largest firm by fee income.  Its representation of the FTSE 50 on the AIM is also noteworthy: it is seventh, right after the much larger Grant Thornton, a firm that tops the mid-tier market in the rankings by fee income. 

As of December 2008 the firm had some two dozen AIM clients.  Its service offerings include pre-IPO fund-raising, admissions services (including an introduction to a nominated advisor), due diligence and tax assistance and planning.  Among these are Black Rock Oil & Gas plc, Verona Pharma plc and Desire Petroleum plc. It has a particular strength in representing commodities clients, such as basic materials and Oil & Gas, though whether the dip in this market sector will affect UHY Hacker Young's fortunes remains to be seen.

Evidence of the firm's international expertise is apparent, given its two most recent additions to the client list.  In 2008, UHY Hacker Young's London office advised RedHot International Limited on its admission to the AIM.  The company primarily buys advertising space for clients and almost three-quarters (73 per cent) of its total 2007 revenue came from activity in Malaysia. It was also appointed as auditor to China Wonder, which through its subsidiary Jinzhou Wonder Packing Machinery Co., Ltd., manufactures and distributes specialist packing machinery to the pharmaceutical industry. Based in the Channel Islands, it primarily operates in Qilihe Village Economic Development District, Jinzhou City, and Liaoning Province, the People's Republic of China. 

Hanging in there

In recent years, the firm has seen strong growth in areas such as audit and accounting, turnaround and recovery and its AIM practice.  Between 2006 and early 2008 alone, its growth surged and the group increased its fee income by 53 per cent to reach a record £40 million.  In 2008, earnings were at £43 million, a 10 per cent increase from 2007.  In 2009, UHY ranked No. 19 in Accountancy Age's annual Top 50 survey.

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UHY Hacker Young


Quadrant House
17 Thomas More Square
London E1W 1YW
Phone: 44 (0) 20 7216 4600
Fax: 44 (0) 20 7767 2600
www.uhy-graduate.com

STATS


  • Employer Type: Private
  • Group Chairman: Howard Spencer
  • 2009 Employees: 650

Major Office Locations

  • London, United Kingdom

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SALARY FINDER

SALARY FINDER

Health Service Administrator

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  • 25
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  • 100+
Yearly Salary Range (US$ Thousands)