Nexia plans to double business in Romania through partnership with local company

CRG Nexia, part of the global network consultancy Nexia, plans to double its business in Romania until 2012, after partnering Group Expert Consulting 2000, according to the company. The partnership should be completed by the end of this year. „This move is part of the 5-year strategy adopted in November last year, in Dubai“, according to Kevin Arnold, Chief Executive Nexia International. CRG Nexia currently has two offices in Romania, one in the capital city and one in the city of Constanta, but plans to open new offices across the country, in cities like Sibiu, Timisoara, Brasov. According to a study conducted by CRG Nexia, the Big Four companies in Romania, namely Deloitte, PriceWaterhouseCoopers, Ernst&Young and KPMG, remained the leading providers of audit, consultancy and accounting services in 2010 in Romania, even though their share fees decreased from 76.5 percent in 2009 to 72.12 percent in 2010. Nexia ranks 16th in the top 25 companies of audit, consultancy and accounting in Romania. However, the company plans to reach the top 12 ranking next year, according to Luminita Ristea, Managing Partner CRG Nexia. Foreign direct investments in Romania more than doubled in the first quarter of 2011, up to EUR 294 million, compared to EUR 140 million reported in the same period of 2010, according to the Nexia International report „Doing business in Central and Eastern Europe“. Moreover, according to the same report, retail is expected to be the leading sector for overseas investments by the end of 2011. Nexia International is currently present in over 100 countries, with over 500 offices and about 20,000 employees. Irina Popescu, irina.popescu@romania-insider.com