‘You can blame us’: The firm that sparked accountancy private equity gold rush Accountancy Blick Rothenberg’s chief executive, Nimesh Shah, told City AM the firm ‘killed’ the traditional partnership model a decade ago, and now stands as the blueprint that every mid-tier accountancy competitor is trying to emulate. City-based Blick Rothenberg is widely recognised as the first major UK accountancy firm to receive private equity backing, after HgCapital invested [...]
Regulator flags BDO’s ‘unacceptable’ audit issues for fifth year in a row Accountancy Accountancy giant BDO has been flagged for an “unacceptable” standard of audit quality by the watchdog for a fifth year in a row. The Financial Reporting Council (FRC) said in its yearly audit quality report that BDO’s overall audit quality fell below expected standards and “has received unsatisfactory results from regulatory inspections” consistently for five [...]
Layoffs and an executive exit: What’s going on at London’s first listed law firm? Markets Gateley, the City’s first listed law firm, is set to lose its chief executive and axe dozens of jobs as it grapples with a swelling cost base and fears of a slowdown in client spending. The group, which is listed on the London Stock Exchange’s Alternative Investment Market (AIM), informed shareholders on Tuesday that chief [...]
You don’t have to be psychopathic to work in the City… but it helps July 15, 2026 The perfect CV? 60 per cent genius and 40 per cent psychopath, says author and former 'Cityboy' Geraint Anderson in today's Notebook.
Magic circle Freshfields ousts equity partners amid US push July 13, 2026 Senior staff are bracing for a shake-up at magic circle law firm Freshfields, as partners have been forced out to boost growth and fund its US expansion. The City-based firm has ousted several equity partners in recent weeks across several European offices, including London, according to the Financial Times, as it focuses on growth. Speaking [...]
Exclusive: PwC set to cut audit jobs amid market slowdown July 9, 2026 PwC is set to slash its headcount in its UK audit division, the latest in a series of redundancies at Big Four accountancy giants. City AM understands that those affected are senior associates and managers in the audit practice. It is understood this is due to low staff attrition in the firm’s audit practice, a [...]
Exclusive: Big Four giant KPMG to cut more jobs July 9, 2026 Big Four giant KPMG is set to lay off around 10 per cent of staff in its UK group corporate services division, City AM understands. The division, which includes HR, corporate affairs, marketing, tech, and procurement, is understood to be cutting around 200 people. A KPMG UK spokesperson told City AM: “As we continue to [...]
BTG Consulting cites poaching from ‘major competitors’ for boosted revenues July 7, 2026 London-listed professional services giant BTG Consulting’s revenue has spiked by 10 per cent for the financial year, partly driven by a push to poach senior talent from top competitors in the City. The consulting firm, previously known as Begbies Traynor before undergoing an official rebrand in February this year, said its revenue for the financial [...]
British consultants face slowdown as corporate spending slumps July 7, 2026 The British consulting industry is set to grow by a single digit this year as the sector faces a slowdown in spending from corporate clients. According to research from the Management Consultancies Association (MCA), the primary representative body for management consulting firms in the UK, the UK consulting sector’s predicted growth for 2026 stands at [...]
Professional services firms can either embrace AI or be swept away by it July 7, 2026 Professional services firms must strategically integrate AI to remain competitive, while ensuring that core human values like trust and judgement remain at the heart of what they do, says Phil Jenkins Professional services firms are at a technological fork in the road. One route involves embracing AI and doing it well. The other, either ignoring [...]