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...Advocates say private equity can bring more efficiency to the profession and access to capital for critical investment, but the financial terms of such deals can prove controversial....
...that has been fast expanding beyond traditional tax and accounting into consulting services....
...Its notable deals include the advertising agency Young and Rubicam in 1996 and the wealth manager LPL Financial and business advisory group AlixPartners about a decade later....
...KPMG sold the insolvency and restructuring business to private equity group HIG Capital in 2021....
...Private equity groups have taken a greater interest in the sector in recent years as consolidation has gathered pace....
...The deal follows Deloitte’s £220mn sale of its UK restructuring and insolvency practice to US professional services group Teneo in 2021....
...The heads of the risk advisory and financial advisory service lines, Andy Morris and Richard Bell, are also among those to leave the executive group....
...EY’s global consulting business....
...Roger Hartelius, Fortnox’s chief financial officer, told the FT that it also counted other organisations, including condominium associations and sports associations....
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...Media groups more focused on traditional forms of advertising are already feeling the effects....
...Deloitte would mainly target jobs in its consulting, financial advisory and risk advisory businesses as well as a small number of roles in its audit and assurance and a cross-sector Enabling Functions advisory...
...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...
...Revenue in consulting grew 16 per cent, to £1.6bn. Houston said the firm’s financial services, energy and resources, and public sector teams had all experienced “significant demand”....
...Those regulations were scrapped after lobbying by the financial services industry over the cost of new corporate reporting rules, including annual statements on financial resilience....
...The SoftBank-backed chip designer spent the most on IPO-related non-underwriting costs since the flotation of insurance group Axa’s US arm in 2018, according to a Financial Times analysis of SEC filings...
...DD spoke to multiple partners from both firms about the raid, which was in part triggered by the exit of Roger Johnson, one of Kirkland’s top lawyers in London....
...Medical technology company Smith & Nephew has chosen John Rogers to succeed Anne-Françoise Nesmes as chief financial officer. He previously held the same role at WPP....
...Kirkland & Ellis M&A partner Roger Johnson was asked to leave the firm after news leaked that he was in talks with a rival, Financial News reports....
...He will replace John Owen, who took over on an interim basis from Roger Hochschild after he was reportedly removed by the credit card group’s board in August....
...TPG, CAA and Artémis declined to comment on financial details....
...EY has hired crisis adviser David Gold to conduct a review of the failed attempt to split its audit and consulting businesses....
...EY has rejected a proposal from US private equity group TPG to break up the Big Four firm and take a stake in its consulting business, according to a statement sent to partners yesterday....
...A decision led by US-based partners, including Calder, to hire Alvaro Membrillera from Paul Weiss’s London office without consulting their own colleagues in the city, ended with Roger Johnson and other London-based...
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