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...He is already proving a valuable addition to the Board and management teams.”...
...offer put to them by management last week....
...Grant Thornton is the seventh-largest accounting firm in the US with $2.4bn in annual revenue. The sale of a majority stake to New Mountain represents the biggest private equity deal in the sector....
...BDO is the sixth-largest accounting firm in the US by revenue, having grown annual revenues from about $600mn a decade ago to $2.8bn in the financial year just ended, under the longtime leadership of chief...
...It expanded into advising on employee benefits and wealth management through the purchase of Premier Pensions Management in January 2022....
...Anne-Marie Malley, head of consulting, is the most high-profile of the trio, having overseen a 44 per cent rise in revenues since 2019 when she became the first woman to lead the practice....
...From the lay-offs to the management cutting budgets for projects. The quality of meals in the cafeteria declined, and they stopped providing snacks and drinks.”...
...According to DD’s Antoine Gara and the FT’s Stephen Foley, partnerships catching the eye of private equity buyers range from accountancies to large consulting and advisory groups, wealth management platforms...
...Until last November, he was a top executive at Compass Lexecon, a division of management consulting firm FTI Consulting....
...As an aside, four consulting firms, including McKinsey and BCG, are under political pressure due to their work with PIF....
...Bruce Falck, its revenue product head, is also departing the company....
..., the consumer campaign group, that also found the energy sector had the highest number of dissatisfied customers, followed by telecoms....
...It has been adept at picking winners, developing close relationships with groups like Thoma Bravo and Vista before they became the giants with over $100bn in assets under management that they are today....
...The changes cut subsidies and imposed a new 7 per cent tax on revenue from all power generators....
...Revenues increased 24.4 per cent to $25.8bn, thanks to booming demand for advisory services sold in alliance with groups such as Amazon Web Services and Google....
...Backing came from Raven Capital Management, a New York alternative asset manager known for its esoteric investments....
...This involved transferring some of the property group’s legal team to Beyond Leasing, part of the law firm’s consulting function....
...News round-up EY bosses approve radical break-up of Big Four firm (FT) Banks try to offload $15bn of Citrix buyout debt to ‘gun-shy’ investors (FT + Lex) Deloitte revenues hit record on back of tech consulting...
...Lawyers arrived in groups, trading gossip in hushed murmurs, occasionally breaking into laughter....
...“Asset managers are going after this space [because] their investors are asking for it,” said Ju-Hon Kwek, head of asset management consulting at McKinsey....
...Equity Partners and Brookfield Asset Management in part due to concerns over whether the social media group can become more profitable....
...As always, reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to share your feedback on today’s newsletter. Happy reading!...
...“China has already made it abundantly clear that gambling is a vice through a series of anti-gambling edicts,” says Ben Lee, an Asian gaming expert at Igamix Management and Consulting....
...Middle-market buyout firms and companies securitising everything from pharmaceutical royalties to restaurant franchises now turn to the lending businesses of Blackstone Group, Apollo Global Management and...
...At the same time, the Tokyo Olympics, which were supposed to bring in revenues to buy the company time to address its shortcomings, have become a heavy drag on management resources....
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