Independent chartered accountants and business adviser Bloomer Heaven, which has offices in Birmingham, Lichfield and Stourport, has strengthened its team at the expense of troubled rival Wenham Major.
The practice has taken on John Edwards, a former Wenham Major director, and Kari Campbell, who was head of tax consultancy services.
Mr Edwards will assume the main role of head of corporate finance, although he will retain some mainstream audit client responsibilities. Ms Campbell is to lead Bloomer Heaven's tax consultancy.
The moves form part of Bloomer Heaven's long-term strategy to become one of Birmingham's leading independent accountancy and business advisory firms.
Managing director Chris Stephen-Haynes said he was delighted to have secured the services of two such experienced people and the aim was now use their knowledge to build up the range of services available to clients.
"Both bring first rate credentials in their respective fields, and are extremely well respected within the Midlands' professional services community," he said.
"Most importantly, John and Kari have demonstrated that they share our client service values, and their skills are extremely complementary to those of our existing team.
"Over the coming years we plan to really make our mark as one of the leading independent accountancy and business advisory firms in the region. These are significant appointments and will form an essential part of our plans."
Mr Edwards' background is in corporate finance at a 'Big Four' firm, as well as most recently at Wenham Major. He has also been group secretary of a FTSE 350 company, while he continues to maintain an interest in the listed sector through his links with the Quoted Companies Alliance, for which he sits on an accounting standards committee.
Mr Edwards said: "I am terrifically excited to take on this new role at such an important time in Bloomer Heaven's development.
"Long established and locally controlled city centre firms are becoming something of a rarity in a sector dominated by national and international practices."
Ms Campbell trained in a regional practice in Worcester, then joined Baker Tilly's Birmingham tax department. She specialises in tax consultancy, specifically corporate tax planning and transactional work.
She said: "Clearly the events of recent weeks have been extremely unsettling. I am delighted to be joining Bloomer Heaven and to be building on the considerable efforts of colleagues in the tax part of the practice."
Bloomer Heaven, founded in 1877, provides accountancy and business advisory services predominantly to the SME and not-for-profit sectors. In addition to the core business, it offers niche accountancy services to medical practices and to a number of barrister's chambers.
The company, which employs 60 people across its three locations, has just been named Small Accountancy Firm of the Year by the West Midlands district of the Institute of Chartered Accountants of England and Wales.
Wenham Major went into administration last week after disclosing "financial irregularities". The core audit, accounting and tax compliance business has subsequently been acquired by RSM Bentley Jennison in an undisclosed deal.
About 30 of Wenham Major's employees are being transferred to Jennison's Birmingham office, adding £2 million to the firm's fee income.