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...of a majority stake to a consortium of investors led by New Mountain Capital....
...A dozen former partners, including ex-chief executives Brad Preber, Ed Nusbaum and Mike McGuire, have formed a group to “act as a point of contact” with the firm, according to an email it sent to retirees...
...“Tax is a tremendous brand and I’m a big believer that you never dilute a brand that has meaningful value,” Griggs told the FT....
...that has been fast expanding beyond traditional tax and accounting into consulting services....
...The firm’s largest business, consulting, continued to be its fastest growing, posting revenues up 19.1 per cent in local currency, to $29.6bn....
...H&F’s investment also underscores the growing interest of private equity in professional services firms, and represents a return to large-scale dealmaking in the US accounting sector after a hiatus caused...
...EY and its rivals have come under pressure due to a prolonged slide in M&A activity and a slowdown in broader consulting work as companies reduce or cancel projects and push for lower fees....
...Pre-tax losses at the private equity-backed business widened to £10.6mn during the 12 months to March, compared with a £10.2mn loss a year earlier, following a rise in staff and financing costs....
...In contrast to some M&A, there can be room for both sides to think they are getting a marvellous deal....
...“I’m not sold on this one-stop shop idea. I’m just not a believer,” said one FTSE 100 chair. “How many can say they’ve made a real success of the multidisciplinary approach?...
...This is in order to concentrate on larger, sector-focused M&A activity. As a consequence, we are proposing to close some parts of that business....
...A former top investment banker at Centerview Partners did not strike a valid agreement to become a full-fledged partner at the elite advisory firm during a restaurant meeting held more than a decade ago,...
...Big Four consulting firm Deloitte is scaling back its UK deals business to focus on higher value transactions after a review of its profitability, in a strategic shift away from work it has done for decades...
...Among the failings on the M&C Saatchi audit, the FRC said KPMG did not apply sufficient professional scepticism over a client payment that increased revenues by £1.2mn....
...US megadeals are slowly bringing M&A action back If a UK paper and packaging company is at the centre of a bidding war, then M&A must be back....
...“I’m in favour of letting the market decide. If it succeeds, we’re all better off and if it doesn’t, well, the exchange’s investors lost.”...
...Latham & Watkins has hired Yohei Nakagawa as partner in the M&A and private equity practice in Tokyo. He previously worked for Morrison & Foerster....
...The Big Four accounting and consulting firm first launched the internal tool, called “PairD”, in the UK in October, in the latest sign of professional services firms rushing to adopt AI....
...I’m afraid I can’t share the enthusiasm for IBM’s new “cash-balance” pension plan as described in Brooke Masters’ column “Could a US pensions revolution be on the cards?”...
...It raises fresh questions over the consulting firm’s denial that it ever worked for Beijing....
...“At the moment, I’m sheriff for only half the county . . . and my arsenal is weaker than other regulators....
...McKinsey boss Bob Sternfels is facing a tougher than expected bid for re-election after a backlash to his restructuring of the consulting firm and a slowdown in growth....
...Dechert has hired Brian Miner as a partner in its corporate and securities practice group. He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...Dealing with the dividends doubters So, I’m not saying Daniel Peris got lucky....
...Bain & Company has picked the head of its European private equity advisory business to be its next global chief executive, as the consulting group deals with an industry slowdown and the fallout from a corruption...
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