02.06.2008 BOB DALLAS TO STEP DOWN AS MANAGING PARTNER OF CAMPBELL DALLAS

Bob Dallas, one of the founders of mid-tier Scottish chartered accounting firm Campbell Dallas, is to step down as the company's managing partner and will be replaced by Chris Horne, head of Corporate Finance.

Under the new leadership, the company also revealed plans to beef up its head count by at least 100 over the next three to five years, taking its staff members up to almost 300 across its bases in Paisley, Glasgow, Stirling, Aberdeen and Perth.

Dallas said the company, which formed in 1999 from the amalgamation of Campbell & Co in Bearsden and Paisley based Dallas Nicol & Co, had grown into Scotland's third-largest independent accountancy firm with turnover up 15% in the year to £9m, and that the time had come to "pass the baton to the next generation".

Horne, 37, will take over the helm at the Glasgow based company on June 1.  Asked about his plans once he took over the top job, Horne said: "Its going to be more of the same, and that means beefing up our operations.  "This is a real opportunity to build a dynamic, full service accountancy firm that will geographically cover all of Scotland".

"At the moment, I'd say Glasgow is our only office that is a full service operation,and we want to extend to all offices in Scotland".  Horne joined Campbell Dallas in 2002 with the remit to build a corporate finance practice.

Meanwhile, Dallas, 63, will return to what he described as his "first love" - private client work.  Asked if this was precursor to an exit, Dallas said: "Not just yet.  It'll still be a few years before I exit completely.  This change over is something we've planned for a while.  It's all about growing the firm and realising the time has come to pass the leadership of Campbell Dallas to a new generation.  "But there will still be a few wise, old faces around to provide advice and counsel when required".

Earlier this year, the firm revealed to The Herald plans to spin out its fast growing independent financial advisory business and float it on the Alternative Investment Market within two to three years.

Jim Campbell, senior partner at the firm, said at the time that the idea behind the prospective flotation was to expand the business and to "provide an exit" for its "older shareholders", which included Campbell himself and eponymous partner Dallas.

Publication:  The Herald
Date: 1 June 2008