RSM grows global revenue to $10B

RSM International today announced its 2024 financial results, reporting $10 billion in global revenue, up 6% from $9.4 billion the prior year.

Global fee income for assurance services grew 15% to $3.2 billion, and tax revenues rose by 11% to $2.9 billion. Global consulting revenue rose to $3.9 billion, up from $3.1 billion in 2023. North America, RSM's largest region by revenue, saw a 5% increase to $6.6 billion in fee income.

"The combined revenues recorded by our organization are testament to the value our member firms bring to a core part of the global economy, and underpin the vision of RSM's 2030 global strategy," RSM International CEO E.J. Nedder said in a statement. "Our seamless and specialist cross-border solutions enable middle-market businesses to navigate challenges and build upon opportunities with confidence." 

Igor Emmerich

"This year's results demonstrate both our clients' and member firms' resilience amidst challenging market conditions," he continued. "As we look ahead to 2025, our organization is committed to building on this solid foundation through evolving the global RSM experience to truly enable our clients and our people to unlock value and take charge of change."

Nedder succeeded longtime CEO Jean Stephens in June 2024. He was formerly a partner and chief strategy officer at RSM US.

In October 2024, RSM US and RSM UK announced their plan to combine into one firm by the end of 2025, creating a transatlantic giant of over 23,000 professionals and annual revenues of $5 billion, with locations in the U.S., the U.K., Canada, Ireland, India and El Salvador.

"We see this strategic move as a key part of RSM's journey in driving ever-closer collaboration through shared purpose, initiatives and goals," Nedder said. "Innovating and succeeding together are key and fundamental values at RSM, which we are focused on harnessing to enhance our service capabilities to clients across borders."

RSM's member firms completed seven acquisitions across Europe last year, which contributed to 8% growth across all service lines. 

"Our member firms' recent acquisitions in Europe not only expand our footprint but also enhance our capabilities across important sectors," Nedder said. "Taking our local, regional and global developments in 2024, RSM is reinforcing our position as the leading global provider of professional services to the middle market."

RSM in the Middle East and North Africa saw 38% growth in fee income thanks to investments in talent, technology and digital transformation. A merger of six member firms in Latin America resulted in 13% annual growth and $190.1 million in revenue. And RSM in Africa saw 17% growth, while the Asia Pacific region saw 7% growth to $1.1 billion.