U.S law firm Armstrong Teasdale buys Kerman & Co in London expansion February 10, 2021 U.S law firm Armstrong Teasdale has bought City law firm Kerman & Co, adding 50 lawyers to the American firm. Kerman & Co, which is based in The Strand, specialises in corporate law, mergers and acquisitions, capital markets, commercial and intellectual property, litigation, employment and immigration, sports and entertainment and real estate. “We have [...]
KPMG chairman ‘sorry’ for telling staff to ‘stop moaning’ about working conditions February 10, 2021 KPMG UK chairman Bill Michael has apologised after telling consultants to “stop moaning” about working conditions during the pandemic. In a virtual meeting on Monday, members of KPMG’s consulting team told Michael they were worried about potential cuts to pension contributions, pay and bonuses, the Financial Times first reported. They also raised concerns about the [...]
Disgruntled client ordered to pay law firm £25,000 over Trustpilot review February 9, 2021 A man who left an angry review of a legal firm on Trustpilot has been ordered to pay £25,000 in damages after a judge ruled he had committed libel. Philip James Waymouth hired Summerfield Browne to represent him in a dispute concerning the enforcement of a court order, paying a fixed fee of £200. Waymouth [...]
Astia launches $100m venture fund for growth companies with women at the helm February 8, 2021 Astia has launched a $100m early-stage venture fund that will invest globally in high-growth companies that have at least one woman in an executive, equity-holding position. The fund was created to help to address the disparity in funding for companies that include women in founding or executive roles. Mastercard is the fund’s main investor. Astia [...]
HIG joins private equity pack circling KPMG’s restructuring arm February 8, 2021 HIG Europe has joined a pack of private equity bidders vying to buy the UK restructuring arm of KPMG. HIG is one of four parties shortlisted to acquire the business, which was put up for sale last year, Sky News first reported. It is understood Intermediate Capital Group is another private equity business interested in [...]
Begbies Traynor buys chartered surveyors as acquisition spree continues February 8, 2021 Professional services firm Begbies Traynor has bought London-based chartered surveyors Hargreaves Newberry Gyngell (HNG), in a deal worth £1m. HNG employs 13 staff, who will all integrate with Eddisons, Begbies Traynor’s property advisory and transactional services division. The acquisition is for an initial cash consideration of £0.4m on a cash free, debt free basis. Contingent [...]
Deloitte China whistleblower circulates damning presentation on social media that alleges audit failures of RYB Education February 5, 2021 Big Four firm Deloitte is under pressure after one of its employees reportedly made a 55-page PowerPoint presentation that exposed the firm’s alleged accounting violations in China. The PowerPoint, which has been circulating on Weibo, a Chinese website similar to Twitter, has alleged that when Deloitte was auditing the financial data of its client RYB [...]
Freshfields to take on students from racially diverse and poorer backgrounds February 4, 2021 Magic circle law firm Freshfields will take on hundreds of students from lower socio-economic and racially diverse backgrounds, in a push to promote social mobility and racial equality in professional careers. For the next three years Freshfields will take on 100 students per year, aged 16 – 17, as part of a UK-wide programme to [...]
EY to buy Frank Hirth’s UK business, leaving some staff in limbo February 3, 2021 Big Four firm EY will acquire the UK business of tax advisory and compliance business Frank Hirth for an undisclosed fee. Around 200 employees and more than 5,000 clients of Frank Hirth will move across to EY. Four Frank Hirth employees currently working out of New Zealand have been left in limbo as a result [...]
KPMG partners take 11 per cent pay cut as Covid-19 eats into profits February 3, 2021 Partners at KPMG have had their pay cut by an average of 11 per cent, from some £640,000 to £572,000, as Covid-19 hit profits and revenue at the firm. KPMG’s chairman was paid £1.7m for the year, a decrease of 14 per cent on 2019. Partners across Big Four firms saw pay cuts in [...]