Mike was most recently MD of Abacus in the Isle of Man,
but has more than 30 years experience in the financial
services industry including previous roles as a main
board director of Ansbacher in the UK as well as
Regional Managing Director of Ansbacher Caribbean.
He spent 24 years at Royal Bank of Canada including
postings in the Channel Islands, Hong Kong, Taiwan, and
Singapore and of course Toronto, and was an executive
officer of the parent bank in Canada. In addition to 2
undergraduate university degrees, Mike has an MBA
from Ivey Business School and is a member of the
Society of Trust and Estate Practitioners.
Alex spent 5 years as a Director of Abacus and has a
high level of expertise in advising on the establishment
and ongoing administration of a variety of bespoke
fiduciary structures dealing with assets ranging from real
estate to operating businesses to yachts and aircraft.
Prior to this Alex worked for Coutts (formerly Natwest
International Trust Corporation) since his move to the Isle
of Man from Scotland in July 1990. Whilst at Coutts he
held various positions and worked in several areas of the
Bank and was responsible for setting up and managing
the Investment Administration Team, setting up and
managing the Groups’ offshore booking centre, which
included Bank deposit, Credit, Investment and Fiduciary
services. Alex is a member of the Society of Trust and
Estate Practitioners (TEP) and holds the Society’s
Diploma in International Trust Management.
Prior to joining IOMA Solutions Paula was an Associate
Director at Abacus, having previously worked for Abacus
as a tax manager responsible for both Isle of Man and
United Kingdom tax matters in relation to offshore
structures. Paula has a significant level of expertise in
advising on the establishment and ongoing
administration of offshore structures, both from a trust
and a taxation perspective. Paula is a Chartered

Certified Accountant (FCCA), a Chartered Tax Advisor
(CTA) and a member of the Society and Estate
Practitioners (TEP), holding the Society’s Diploma for
England and Wales and the Diploma in International
Trust Management. Previous roles include Senior Tax
Manager for Ernst & Young LLC where Paula was
responsible for the tax advisory function, and provided
consultancy advice to individuals, trusts and companies
regarding both UK, Isle of Man and offshore taxation
issues. Paula also worked for KPMG and PKF (Isle of
Man) Limited initially working as an accountant,
progressing to an auditor and then as a tax advisor,
gaining experience on the audit and taxation of offshore
structures and individuals.
As Managing Director at IOMA Solutions, Mike Hodgson,
says: “The three of us have all worked closely together
for some time and together have an outstanding depth of
experience in the Financial Services Industry. We look
forward to leveraging the traditions, breadth of offering
and experience of the IOMA group.”
Commenting on the appointments, Nigel Wood,
Managing Director of IOMA group said: “We are very
pleased to welcome Mike, Paula and Alex to IOMA
Solutions and believe they will be a valuable asset to the
group. They have significant experience in developing
fiduciary services and consultancy and we are excited
about what we anticipate to be a very dynamic period of
development for IOMA group.”

[/private]

With more than 400 multi-national corporations as clients, Abacus Enterprise’s leading web-based software is used by customers to determine applicable taxes, and to comply fully and accurately with ever-changing local tax laws.  As tax laws increase in complexity and scope, tax compliance and remittance has become more important for corporations, and for the accounting firms who support them.  Intensified regulatory scrutiny and audits of tax returns have dramatically increased the need for accuracy, and since complex corporate returns can number in the thousands of pages, tax compliance software has emerged as a critical tool for tax professionals.

“Abacus is an excellent complementary fit with our business and our strategy, and we believe our focus on software and customers is a perfect match with the Deloitte approach that has been so successful over the years.  The Abacus products will combine well with our global product suites, and build on our strong and growing position in the U.K. market,” said Roy M. Martin, Jr., President and CEO of Tax & Accounting. “Our plan is to thoughtfully integrate the existing Abacus product line with our global products in tax planning, transfer pricing, provisions and workflow management, while simultaneously providing meaningful investment in new product development, customer support, and broader marketing of the Abacus line.”

“Integrating the Abacus suite of products with a leading global provider of tax and accounting software and service solutions will allow the Abacus business and the Abacus product team to realize their full potential,” said David Sproul, Managing Director of U.K. Tax at Deloitte LLP. “Deloitte’s strategy is to remain the leading consulting firm when clients are considering how to use technology in managing their tax compliance and accounting processes. Our Tax Management Consulting business comprises over 500 people globally focusing on tax technology consulting, which we combine with our leading tax advisory services.”

The Abacus products fill a gap that enhances Thomson Reuters’ overall portfolio in the U.K. market. Abacus solutions will be integrated with other leading Thomson Reuters software and digital brands such as ONESOURCE, a web-based corporate tax portal that provides single sign-on capabilities and tools that help practitioners manage documents and track their workflow, as well as TaxStream, Paisley, and Checkpoint.  This announcement follows Tax & Accounting’s launch of its sales and support operations in the U.K. in 2007, and the very successful acquisition of national software provider Digita in 2008.

Digita provides integrated tax compliance, and accounting software and services to accounting, tax, and corporate finance professionals serving a client base of over 5,000 users, including 16 of the top 50 accounting firms and three top 10 firms. Abacus also has a strategic distribution relationship in the UK with software provider Sage, which will be retained by Thomson Reuters.  Post acquisition, Thomson Reuters will employ over 150 tax technologists and professionals in the U.K.

“We are excited about the prospect of the future for both our U.K. businesses, and for the Abacus customers in Europe and around the world,” said Mr. Martin.  “Our vision is one that will offer our customers a steadily increasing array of high-quality and leading edge software products and services, all designed with one goal in mind: to help customers accurately and efficiently comply with complex tax laws, wherever they may be.”

The transaction is expected to close at a later date. The terms of the transaction were not disclosed.[/private]

Andrew has 20 years experience of advising high net worth personal clients. He trained at KPMG and subsequently became a tax partner at accountant Smith & Williamson. Before joining EY, he was a director of Royal Bank of Canada’s Global Private Bank, having been a director of Abacus, the Channel Islands-based fiduciary and wealth management group, which RBC acquired in November 2005. At Abacus/RBC, Andrew was a key figure in the development of the Group’s onshore private client base.

Andrew said, “This is a very exciting time to be joining EY’s Private Client team, which has enjoyed major client wins and has also capitalised on the explosive growth in the private client sector. I’m thrilled to be joining an organisation which has such exceptional talent and an outstanding international tax network and track record.”

EY’s London Private Client Services recently made two other appointments – Ann Gurney, who has joined as a senior manager from BDO Stoy Hayward, and Elizabeth Roberts from accountant Wilson Wright. The division is planning a significant UK recruitment drive over the next three years, reflecting its success to date and growing demand for its services.