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...Retired US partners of Grant Thornton have stepped up their fight for a bigger share of the proceeds from the sale of the accounting firm, hiring lawyers to challenge management over the terms of the deal...
...After a fractious call with Grant Thornton’s management last week, retirees said the sum they were offered was unfairly low, in some cases coming up short by $1mn or more....
...Senior partners at the accounting firm BDO USA are in line for a big windfall after the arrangement of a $1.3bn debt deal with Apollo Global Management, according to people familiar with the situation....
...The expansion by Citadel, among the world’s biggest hedge funds by assets under management, comes as others investors including the activist fund Elliott have been growing their Japan-focused teams....
...Deloitte has been training its UK team leaders in performance management as part of Project Hudson, according to people at the firm....
...“Professional services firms don’t normally do overhauls of management teams. They do it slower,” said one senior recruiter when told about the overhaul....
...It expanded into advising on employee benefits and wealth management through the purchase of Premier Pensions Management in January 2022....
...Like Amitrano, Hudson is a PwC lifer. In 2019 she became head of audit and has been on the firm’s management board for more than seven years....
...Deloitte has been training its UK team leaders in performance management, a reflection of growing pressure in a tougher economic environment....
...John McClain, a portfolio manager at Brandywine Global Investment Management, described Citadel’s entry into investment-grade credit as a “natural progression” but added that high-yield corporate debt was...
...EY has hired crisis adviser David Gold to conduct a review of the failed attempt to split its audit and consulting businesses....
...EY has resigned as auditor to MJ Hudson, saying it had “lost trust” in management of the investment consultancy whose shares have been suspended since December as it battles to establish the true state of...
...Many professional services groups are facing similar dilemmas, such as law firms and management consultants....
...Additional reporting by Hudson Lockett and Cheng Leng in Hong Kong...
...It signals the onset of tighter scrutiny of the accounting and consulting sector and rising uncertainty over the future of Deloitte, PwC, KPMG and EY in China....
...“I think you will see a lot of challenge of management.”...
...Consulting was the fastest-growing of Deloitte’s business lines last year....
...Previously we planned to move our headquarters to Singapore, but now that plan is on pause,” said Adrian Wang, chief executive of Metalpha, a crypto asset management service provider....
...The London-listed company said MHA MacIntyre Hudson had agreed to become its new group auditor, replacing Deloitte, which stepped down in April after Russia’s invasion of Ukraine made it impossible to work...
...Backing came from Raven Capital Management, a New York alternative asset manager known for its esoteric investments....
...While holders of $400mn of the loan quickly returned the money to Citigroup, funds including Brigade Capital Management and HPS Investment Partners refused to send the cash back....
...The new company would compete with McKinsey, BCG and Bain on strategy and management consulting as well as with mid-tier tax and transaction advisers that “have been born only because of the conflicts the...
...Consultants McKinsey and Boston Consulting Group announced last week that they were suspending work for Russian clients but said they would continue work on some existing projects in the country....
...The new company, later named Apollo Global Management, after the sun god, was led by Black and five other former Drexel executives....
...People close to the matter told the FT’s Tabby Kinder, Cheng Leng and Hudson Lockett that the agreement was based on the same deal signed between the superpowers in 2013....
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