Big Four giant KPMG downgrades equity partners April 24, 2026 Big Four giant KPMG has begun demoting UK senior equity partners – members who hold a stake in the firm and share its profits – and instead offering them lower status salaried partner roles. KPMG, which last year paid its equity partners on average £800,000 each a year, has reportedly been inviting the partners for [...]
AI-focused services make up 40 per cent of BCG’s 2025 revenue April 23, 2026 The global revenue of the consultancy group Boston Consulting Group (BCG) reached $14.4bn (£10.6bn), a single-digit increase over the previous year, credited to AI. BCG reported seven per cent global revenue growth, rising to $14.4bn in 2025 from $13.5bn in 2024, marking its 22nd consecutive year of growth. The firm said its AI-and tech-focused services [...]
The AI cracks are starting to show at law firms April 23, 2026 Law firms have poured vast sums into AI in a race to modernise, but ‘hallucinations‘ and security concerns are exposing the technology’s risks, writes Maria Ward-Brennan. There has been intense pressure on legal, advisory, and consultancy firms to invest in, embed, and deploy AI over the last couple of years, but this pressure is now [...]
End of the runway for Gatwick as top court kicks out insurance lifeline April 22, 2026 Gatwick Investment’s appeal against insurance giant Liberty Mutual has been struck down over whether insurers can deduct government furlough payments from business claims. The Supreme Court ruled that insurers do not have to pay an estimated £1bn to the hospitality and leisure companies involved in the case that suffered financial losses during the pandemic because [...]
Elite law firm apologises for AI ‘hallucinations’ in bankruptcy case April 22, 2026 An elite US law firm has had to apologise to a judge after its restructuring team made a filing in a high-profile case that contained multiple AI generated ‘hallucinations’. The head of Sullivan & Cromwell’s restructuring practice, Andrew Dietderich, apologised in a letter to the New York federal judge for mistakes that included misquoting the [...]
Mike Ashley appeal case confronts ‘unjust’ trademark claims April 21, 2026 Billionaire businessman Mike Ashley‘s company, Sports Direct, is back before the court today as it seeks to challenge damages awarded in a trademark infringement claim. The appeal follows a long-running dispute between Sports Direct and the Beverly Hills Polo Club brand, owned and managed by Lifestyle Equities, which claimed Sports Direct had infringed its trademark through products [...]
As private equity booms, law firm partner moves hit record high April 21, 2026 Partner moves in London’s private equity market are hitting a new high, according to a report that revealed last year’s numbers doubled those of 2024, marking a record for the City’s legal sector. New data from legal search boutique Macrae shows there were 50 movements of partners with practices in the private equity sector in [...]
Trojan tools: AI is professional services’ newest cyber liability April 21, 2026 As the UK government ramps up pressure on businesses to strengthen their cyber defences over Anthropic’s Mythos, professional services firms are already feeling increasingly anxious about cybersecurity. In the last month, a hacker gained access to one of Bain & Co’s internal AI tools, which followed another attack that exposed cybersecurity flaws in a system [...]
BDO culls senior partners to clear path for younger staff April 9, 2026 Leading mid-tier advisory firm BDO is set to cut around 6 per cent of its total partner headcount, targeting older partners. The firm is set to axe 31 partners, mainly older staff who were expected to retire soon, or hires from rivals, as it seeks to open space for younger staff, according to the Financial [...]
As KPMG looks to cut hundreds of staff, expect more layoffs at the Big Four March 31, 2026 The Big Four giants, after hitting pandemic-era highs, are currently navigating a perfect storm of challenges: a harsher market, a surge in AI investment and a stagnant economy. These pressures are forcing firms to take a pair of shears to their workforces as the industry’s traditional “attrition model” fails to keep pace with reality. Over [...]