Exclusive: EY plans major private equity push as audit reform looms over sector January 19, 2020 Big Four firm EY is planning a major private equity push as it grapples with potential regulatory changes that could dramatically alter the face of the firm, City A.M. can reveal. Its transaction advisory division is understood to be looking to boost its capabilities in the private equity sector, with the goal of winning more [...]
Hays issues profit warning as political uncertainty slows hiring January 16, 2020 Recruitment firm Hays issued a profit warning today, blaming political uncertainty for a slow three months to the end of December. The group anticipates first half operating profit to be around £100m, down from the £124.1m reported in the same period last year. London-listed shares fell by as much as nine per cent in early [...]
Til divorce do us part: advice for couples considering separation January 16, 2020 Christmas is meant to be a relaxing time, but for many people it’s also a period of stress, tension, and tribulations — especially for married couples. The financial burden of the holidays plus the pressure to have a “perfect Christmas” and the familiar strain of dealing with in-laws can lead to squabbles and even full-blown [...]
Shares in listed law firm Ince halve after £12m placing January 15, 2020 Shares in listed law firm Ince Group plunged nearly 50 per cent today after the firm raised £12m via a share placing. The firm’s share price plunged 47 per cent today on the placing at 45p, falling from 89p at yesterday’s close to 47p today. Ince – formerly Gordon Dadds – became the second English [...]
Firm at centre of mini-bond scandal ‘overstated’ value of holdings January 14, 2020 A firm at the centre of the London Capital & Finance (LCF) scandal was found to have “overvalued” a major asset on its balance sheet by a court today, meaning it was unlikely it could have paid back the money it owed LCF. London Oil & Gas was the biggest recipient of cash from LCF, [...]
EY UK boss Steve Varley takes global sustainability role January 13, 2020 EY today announced the appointment of its UK and Ireland boss to a new position as global vice chair for sustainability. Steve Varley, who is chairman and managing partner of EY UK and Ireland, will relinquish the latter role when he takes up his new position on 1 July. Varley will continue to chair EY [...]
Former Freshfields tax head charged over alleged fraud scheme January 9, 2020 The former head of tax at Magic Circle law firm Freshfields Bruckhaus Deringer has been charged by German prosecutors for his part in a suspected fraudulent trading scheme. Ulf Johannemann, who resigned from Freshfields last year, was charged alongside six former bankers of the now-defunct Maple Bank. Read more: Deutsche Boerse offices raided in German [...]
New internal audit code of practice launched to help prevent corporate collapses January 9, 2020 A new code for internal auditors was launched today as an attempt to help prevent corporate scandals such as the collapse of outsourcer Carillion and cake shop Patisserie Valerie which went to the wall in January 2018 and 2019 respectively. The new code from the Chartered Institute of Internal Auditors was launched today following a [...]
Watchdog calls for end to tick-box approach to corporate governance January 9, 2020 Audit watchdog the Financial Reporting Council (FRC) today said there was “significant room for improved corporate reporting” by FTSE companies. After an examination of corporate reporting last year against the 2016 UK corporate governance code and the 2018 code which has yet to take force but has been adopted by some companies, the watchdog found [...]
World’s largest law firm Dentons set to launch in Ireland January 8, 2020 The world’s largest law firm Dentons is poised to open its first office in Ireland. Dentons has hired banking partner Peter O’Brien from Irish firm Matheson to spearhead its expansion into the market. Since the Brexit vote in June 2016, Ireland has been targeted by UK and international law firms looking to set up operations [...]