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...a $1bn investment by Hellman & Friedman in Baker Tilly US, another top 10 firm....
...Grant Thornton’s retired US partners are demanding a greater share of the spoils from its sale of a majority stake to private equity, after accusing the accounting firm’s management of short-changing them...
...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...H&F’s investment also underscores the growing interest of private equity in professional services firms, and represents a return to large-scale dealmaking in the US accounting sector after a hiatus caused...
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
...The US audit regulator set up in the wake of Enron’s collapse two decades ago has set a record for fines in a single year, after a flurry of enforcement actions against accounting firms including PwC, Deloitte...
...Deloitte and KPMG have advised some US-based executives not to use their usual work phones in the territory, according to multiple people with knowledge of the policies....
...In other areas, too, the results showed the professional services firm’s ability to swap in new services for those that have slowed....
...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...
...Black, who was forced out over revelations that he had paid $158mn for tax advice and other professional services provided by the late sex offender Jeffrey Epstein, is in line to receive about $276mn from...
...A burst of dealmaking in 2022, when three of the top-25 US accounting firms took private equity cash, has reignited this year....
...“One of the biggest things our customers and industry tell us about is this overarching challenge around skills and leveraging AI,” he says....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...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...
...“Technology is already applied in quite a big way to help us with risk assessment, with risk identification,” Barrow said. “AI will be increasingly another tool at our disposal to do that.”...
...Karin Kimbrough, chief economist at professional network LinkedIn, says such forecasts “spook people”, prompting panicked thoughts of, “Oh gosh, I have to become a coder” or apply for jobs in green industries...
...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...
...FWIW: PaLM is currently predicting a slower reversion to the Federal Reserve’s 2 per cent inflation target than professional human forecasters . . ....
...Other investors include a former US solicitor general and quantitative traders from funds including Jane Street and the venture capital arm of Emerson Collective — the philanthropic organisation run by Laurene...
...Backers, who also include Japan’s SoftBank and US private equity firm Tiger Global, will offload part of their stakes in the sale....
...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....
...Stock will be available to the public in the US and through private placements on the professional segment of Paris’s Euronext exchange for the first time, subject to approval from France’s market regulator...
...*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....
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