Ex-HSBC chair tipped to lead Standard Life Aberdeen October 7, 2018 The ex-chair of HSBC is in the running to become board leader at the £610bn fund manager Standard Life Aberdeen, the Sunday Times reported. Sir Douglas Flint, who left HSBC in September last year after 22 years at the firm, is among two or three candidates under consideration to replace Sir Gerry Grimstone. Read more: Phoenix [...]
Moore Stephens partner says it is ready to take on FTSE audits as revenues grow for third year October 5, 2018 The managing partner of Moore Stephens, the UK’s ninth-biggest accountancy firm, has said the company is “well-positioned” to pick up FTSE-listed clients, as it announced revenue growth for the third consecutive year. The professional services firm’s UK operation posted revenue of £137.5m in the year to April, a 13 per cent rise on the year [...]
Mystery banker’s wife loses anti-corruption order appeal in victory for National Crime Agency October 3, 2018 The high-rolling wife of an anonymous banker has been defeated in her push to overturn efforts by the National Crime Agency (NCA) to make her reveal how she was able to afford properties in Britain worth £22m. A High Court judge overturned an attempt by the woman, identified as Mrs A, to block the NCA’s [...]
Head of KPMG South Africa steps down after one year, following corruption scandal October 3, 2018 KPMG South Africa said today it was searching for a new chief executive from outside the company, after its current boss stepped down after just 12 months in the role. The professional services firm has seen its reputation in the country devastated by its involvement in a series of corruption scandals, which have seen it [...]
City Moves for 2 October 2018 – who’s switching jobs at KL Communications, Barclays and CBRE? October 2, 2018 Today’s City Moves cover comms, corporate broking and property. Take a look at these movers and shakers: KL Communications KL Communications, the financial PR and communication consultancy, has hired Charles Gorman to lead its listed company practice. Charles, who joins from Neustria Partners, specialises in advising listed investment and specialty financial companies on their strategic [...]
PwC global chair says firm ‘cannot rest on laurels’ as global revenues pass $40bn October 2, 2018 The global chairman of PricewaterhouseCoopers (PwC) has said audit remains “at the heart of what we do”, after global revenues at the professional services giant rose above $40bn (£30.66bn) for the first time despite a series of accounting scandals. Total revenue across PwC’s international network of firms hit $41.3bn, a seven per cent rise in [...]
Too little too late – why the Debenhams rebrand is a frivolous deckchair rearrangement October 1, 2018 According to the press stories that announced a rebrand of Debenhams at the beginning of September, the objective of the exercise was to put “joy” back into the brand. Six days later, the company announced that it was calling in KPMG to help it restructure, which doesn’t sound too joyful. It’s quite farcical really. [...]
Pressure mounts on the CMA to break up accountancy’s Big Four October 1, 2018 The UK’s competition body has been told to “bare its teeth” and investigate breaking up the Big Four accountancy firms, as it prepares to announce a decision on whether it will investigate the sector. Three senior politicians from across the main parties have called on the Competition and Markets Authority (CMA) to find ways to [...]
Business secretary Greg Clark orders competition watchdog to carry out review of audit sector September 29, 2018 Business secretary Greg Clark has ordered the competition watchdog to carry out a sweeping review of the UK's audit sector. In a year when the Big Four audit firms have been hit by numerous scandals, Clark has told Andrew Tyrie, head of the Competition and Markets Authority (CMA) to carry out the review into competition in [...]
It’s time to throw young employees into the deep end September 28, 2018 It takes a village to raise a child – so goes a famous African proverb that describes the role of entire communities in nurturing a safe environment for a child to grow. To me, however, this is a maxim that should extend to a young person’s transition into adulthood, and how we continue to [...]