City should brace itself for €900bn Brexit hit if Brussels plays clearing politics September 17, 2021 The City and several financial services groups in Brussels are lobbying for an extension to clearing house access beyond June of next year. Yesterday, a trio of major lobby groups for Europe’s finserv sector called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to [...]
Prince Andrew can request unsealing of 2009 deal that protects him from sexual assault lawsuit September 17, 2021 Prince Andrew is permitted to request the unsealing of a 2009 settlement agreement that his lawyer claims protects him from a lawsuit alleging he sexually assaulted a girl two decades ago, a US judge has said. Manhattan Judge Loretta Preska said in a written order that Andrew can seek the information to support arguments that [...]
London’s Keystone Law boss eyes ‘busy market’ and post-pandemic recruitment September 16, 2021 London-headquartered Keystone Law has declared an interim dividend this morning, following six months of revenue growth and zero debt. The challenger law firm posted a revenue of £33.7m for the six months to 31 July, up more than 37 per cent in comparison to the first half of last year. As a result, Keystone has [...]
PwC: 80 per cent of Big Four’s staff hail from higher socio-economic class September 15, 2021 Less than 15 per cent of the Big Four’s workforce come from a lower socio-economic background, according to data published by the accountant for the first time today. Staff from a higher socio-economic background, on the other hand, make up over four-fifths of the workforce at PwC UK, which was named the top employer for [...]
BDO hires record number of new trainees to its audit team September 15, 2021 Accounting firm BDO has announced that it has hired over 450 new trainees into its audit team this year, as the so-called ‘challenger’ firm bolsters its auditing arm. BDO said it had brought on more than 600 new trainees across departments since the start of 2021 – more than it has ever done before. Most [...]
PwC to reveal pay gap between employees from different social classes September 13, 2021 PwC will publish data about the pay gap between its employees of different socio-economic backgrounds, the Big Four firm has reportedly said. The details, which will be published this week, will mark the first time the accounting giant makes such information public according to This is Money, which first reported the news. The pay gap [...]
Mishcon de Reya partners back IPO plans as firm edges closer to listing September 10, 2021 Mishcon de Reya partners approved the law firm’s plans to go public on the London Stock Exchange, according to reports. Mishcon de Reya officials confirmed that at least three quarters of the partnership voted in favour of the planned initial public offering (IPO) of the firm, according to The Times. The law firm will be [...]
EY to spend $2bn on improving audits after Wirecard scandal September 9, 2021 EY will invest around $2bn (£1.4bn) over three years to improve the quality of its audits after the high-profile collapse of payments company Wirecard, according to the Financial Times who first reported the news. The funding is part of a larger, and record, $10bn investment plan, announced by EY yesterday, to finance staff training and [...]
KPMG wants nearly a third of staff to be from working class backgrounds September 9, 2021 In a first for a large business in Britain, KPMG has set a target for 29 per cent of its UK partners and directors to come from a working class background by 2030, the company said in an announcement today. Currently less than a quarter of KPMG’s partners, and a fifth of its directors, are [...]
Deloitte global revenue rises to $50bn with surge in Covid consulting September 8, 2021 Deloitte has today reported a 5.5 per cent rise in its global revenue for 2021 up to $50.2bn as it has seen demand for its advisory services grow during the pandemic. The firm also saw its workforce grow by 3.2 per cent to over 345,000 for the fiscal year ending 31 May 2021. The big [...]