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Former US partners hire lawyers in fight for bigger share of the proceeds from New Mountain deal
Accounting firm recently agreed to sell a majority stake to New Mountain Capital
...services....
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...De Vusser began his career in the consumer products industry, initially at Procter & Gamble as a section head of purchasing, before joining Bain in 2000....
...Credit Suisse sold the majority of its securitised products unit to Apollo in November 2022, just a few months before the Swiss bank was rescued by its rival UBS in March 2023....
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
...Institutional Shareholder Services, another high-profile shareholder adviser, is recommending shareholders vote in favour of Abrdn’s proposals at its meeting....
...But charging would represent the first time that Google — which for many years offered free consumer services funded entirely by advertising — has made people pay for enhancements to its core search product...
PCAOB imposes total penalties nearing $12mn against PwC, Deloitte, KPMG and others
...While tech consulting slowed from the heady pace in the wake of the coronavirus pandemic, companies are still upgrading their IT and digital services, Deloitte said, and it has started selling AI and metaverse...
...“Tax and audit work is being replaced by technology and the lowest price is winning, hence the transformation to consulting and advisory services....
...Some have blamed this on Google’s fragmented structure, big-company bureaucracy and the lack of a coherent company-wide plan for rolling out generative AI across its range of products and services, the Financial...
...Then, there is the market opportunity in terms of the services consultants can provide....
...Oil and refined products is one area where the available data on supply levels, demand patterns and logistical variables has ballooned in recent years, Barrack told the Financial Times....
...In October, the Financial Times reported that Deloitte was planning to axe about 150 junior consulting roles as part of its initial redundancy round....
...The Cold Chain Federation, which represents businesses trading perishable products, estimated the new border could add £1bn a year in costs to the food and plant supply chain when customs fees and other...
...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....
...and search products, which compete with AI advancements by Microsoft’s Copilot....
...The software company made an early bet on ChatGPT-maker OpenAI and quickly embedded its AI-powered CoPilot service into most of its main software products....
...EY can do itself a service by dropping its carbon negative boast as part of a far more rigorous climate strategy....
...“We are putting a product into 2027, when there is not much other product coming out,” Mistry said, adding that the deal marked a “‘dramatic increase” in Citadel’s London footprint....
...How far should regulators go in dictating the basic designs of some of the most widely used tech products and services?...
Big Four firm says suspicious activity quickly spotted but industry disagrees about relying on the new technology
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
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