TMF launches Asia Hub in Hong Kong

TMF launches Asia Hub in Hong Kong

April 19, 2007

    HONG KONG, April 19 /Xinhua-PRNewswire/ -- On 1st
February 2007, global management and accounting outsourcing
firm, TMF, took a major step in its Asia strategy to acquire
two companies - Asian Financial Services Limited (AFS) and
the client accounting and company secretarial businesses of
Baker Tilly Hong Kong. 

    The two organizations will merge to form the Hong Kong
office, and regional headquarters of the TMF Group. This
new office will fulfil the management and accounting needs
of regional clients, from high net-worth individuals to
fortune 500 companies. It will also bring TMF one step
closer to becoming the sole provider of comprehensive
global services.

    TMF has recently been enjoying a rapid rate of growth.
This global management and accounting outsourcing firm has
over 2,000 professionals working from 72 offices in 56
countries around the world. With established offices in
Shanghai and Beijing, TMF is pursuing an aggressive growth
strategy in Asia. Offices are planned in Singapore,
Bangkok, Seoul and Tokyo in the coming months.

    For AFS, a merger with an important global firm
represented a timely progression in its strategic plan.
Since its incorporation five years ago AFS has grown
rapidly, from a small start-up to a thriving firm of 20
employees and over 500 clients. Ken Deayton, the CEO of
AFS, remarked "AFS becoming part of a truly global
firm is the next logical step in growth and
development." 

    The merger was prompted by TMF's recognition of a gap
in the market, a gap which evolved when the Big 4, along
with other large international accounting practices,
divested their corporate services divisions. This move
created a need for a full range of services available on a
truly global basis. TMF is determined to answer this call. 


    To that end, TMF began the search for suitable local
partners. Recognizing the synergy with the two dynamic
companies, TMF initiated negotiations with AFS and Baker
Tilly in the middle of 2006. The final agreements were
signed in January and February of this year. Brian Jackson,
Regional Director of TMF Asia, reported "We are very
pleased to have completed phase one of our Asian strategy
plan. We are looking forward to rapid growth for TMF Hong
Kong."

    AFS will retain its name for a short period, until the
two companies are relocated to one office. At that time,
the whole company will be re-branded TMF Hong Kong Limited.
In the meantime services will not be interrupted and AFS
clients can now benefit from the international network of
resources and comprehensive range of services. 

    TMF is a global management and accounting outsourcing
firm with 72 offices in 56 countries and over 2,000
professionals (February 2007). TMF is expanding rapidly
throughout the world. Learn more about our unique network
and our services and visit our website at
www.tmf-group.com.

    Press Office and PR: Covatta Communications Ltd



    For more information, please contact:

     Amy Ling				
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     Rachel Muscat	
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     Mary Covatta
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