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...“If a group of partners came along and said, ‘join our lawsuit’, I would not have wanted to sign away my right to do that,” the former partner said. Grant Thornton declined to comment....
...A group of retired partners, including three former chief executives, are negotiating with the current leadership to try to get a better deal....
...that has been fast expanding beyond traditional tax and accounting into consulting services....
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
...In a multi-stage process that first involved a change of the existing group’s legal structure, the firm then carved out its highly profitable consulting, tax and M&A advisory operations through an asset...
...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...
...EY’s audits of collapsed payments group Wirecard were “at the very least” negligent and in some cases grossly negligent, according to people with direct knowledge of the details of an investigation by the...
...equity stake in the unit known as Atlas SP and committing to buy future assets from the lender in what is expected to be one of the largest partnerships between a traditional insurer and a private capital group...
...For now, at least, people remain pre-eminent in professional services firms. Private equity’s interest is not the only change challenging the partnership ethos....
...In the professional services, the numbers leaving firms of their own accord have swung to historic lows, as tech groups, investment banks and other destinations have gone from hiring mode to firing mode....
...EY also last year rejected a proposal from US private equity group TPG to break up the firm globally and take a stake in its consulting business....
...“Tax and audit work is being replaced by technology and the lowest price is winning, hence the transformation to consulting and advisory services....
...Professional services group Accenture has cut its full-year forecast, as economic uncertainty weakens demand for its consulting services....
...Consulting revenues fell 3 per cent to $8bn while sales at its managed services, or outsourcing, division grew 3 per cent to $7.8bn....
...failed to request crucial account information from a Singapore bank where Wirecard claimed the cash was deposited — a routine audit procedure that could have uncovered the vast fraud at the German payments group...
...The groups were placed in the classes below, based on the average number of recommendations in that sector or service: • The top 10 per cent of consulting firms (based on the total number of recommendations...
...The founder of the accounting firm hired by Donald Trump’s social media group has used 14 variations of his name in filings with the industry regulator, far more than any other US auditor, according to a...
...Below the Big Four, there are a group of mid-sized firms that include Grant Thornton and Oliver Wyman. Last year the financial services industry accounted for £5.86bn of the market, the report found....
...The shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally...
...In October, the Financial Times reported that Deloitte was planning to axe about 150 junior consulting roles as part of its initial redundancy round....
...Consulting firms increase pressure on low performers Twenty-something-year-olds with Ivy League pedigrees have historically been able to rely on a well-trodden path to success: work for a top-tier consulting...
...Czerniawska predicts that larger consulting firms will outperform their smaller rivals: “Companies that buy consulting and other services tend to be very large and need scale....
...Jad Shimaly, head of EY Canada, will take on some of Baldwin’s role overseeing client services, and Raj Sharma, head of the US consulting business, will become global managing partner for growth and innovation...
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