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...The retirees’ decision to hire lawyers represents an escalation of the fight, even though individuals on both sides continue to describe talks as “productive” or “professional”....
Accounting firm recently agreed to sell a majority stake to New Mountain Capital
Deal with New Mountain Capital is largest to date as PE firms rush into accounting sector
...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....
...The Public Company Accounting Oversight Board fined PwC’s Greek business $3mn on Tuesday and levied a $500,000 penalty on KPMG in Japan on Wednesday for failing to meet US standards in their audits of New...
...EY declined to comment but an executive at the firm said they were unaware of any such policy at the company....
...In other areas, too, the results showed the professional services firm’s ability to swap in new services for those that have slowed....
...The debt deal with Apollo marks one of the largest deployments of private capital into professional services and will be closely watched by the rest of the accounting sector, which has typically shied away...
...Anguilla was using a legal device called a derivative lawsuit to sue the Apollo founders on behalf of the company itself, asserting legal rights that it said the company’s directors were unlikely to enforce...
...TPG sold a controlling stake in the talent agency CAA to Artémis, the holding company of the Pinault family, at a $7bn valuation....
...It comes on top of the 800 redundancies Deloitte announced in September — later reduced to about 700 — as professional services firms contend with slowing demand from clients and rising costs amid a tougher...
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...The roll out highlights how the professional services industry is increasingly adopting generative AI to automate tasks....
...But it is uncommon for a portfolio manager to take a big team of investment professionals with them, as Megia has done....
...Over the past few weeks, there have been multiple lawsuits filed by news providers large and small, as well as comedians, authors and other creative professionals who allege that their work is being unfairly...
...One issue, Stephens said, was that a company might regard its detailed financial data as proprietary information....
...The professional services sector has, however, been hit by rising costs and falling demand from big companies over the past year....
...In mid-December Mobileum terminated longtime chief executive Bobby Srinivasan over what it described as “serious personal and professional misconduct”. Busted buyouts are common....
...However, Asness said that the availability of more data was actually making things harder for most investors, whether they were individuals trading at home or investment professionals at a large financial...
...That is more than double India’s average rate of 21 per cent in 2022, according to a report by professional services firm Aon....
...Deloitte’s figure for 2021 also reached about £1mn, after taking into account a one-off £200,000 average gain per partner for the sale of a restructuring business to Teneo, a private-equity backed professional...
...In 2013, the private equity firm helped Michael Dell take his technology company private for a bargain, then later basked in tens of billions in profits....
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...Arm’s $5bn initial public offering this week was the most expensive in fees for five years, earning a $84mn windfall for the professional services firms that advised it, including Deloitte....
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