Big Four accountancy firm EY is finalising the combination of its two high-profile acquisitions, Riverview Law and Pangea3, into one managed services business under the EY Law brand.
The rebranding means that both Riverview and Pangea3, acquired over the last year, will be absorbed into EY Law’s global managed services delivery, while also keeping an onshore presence through Riverview’s office in Wirral. Continue reading “Riverview Law and Pangea3 brands to be dropped following EY acquisition”
This title is on the record as having doubts regarding the Big Four’s legal ambitions, at least judged against claims typically made by some outside observers. Readers will all know such assertions: that the group are more sophisticated, slicker and tech-savvy than law firms and set to disrupt law on a global scale.
But while the last 25 years has not yet seen them live up to such claims, the Big Four clearly have formidable assets, contacts and brands and have collectively stepped up their investment in the last three years. Continue reading “Comment: A Big Four breakthrough will need a far better GC offensive”
‘I have never instructed a Big Four firm on a legal matter,’ says one UK general counsel (GC) of a large multinational. ‘The accountants’ legal offering is not something I’m close to,’ concedes Tesco GC Adrian Morris. The respective legal chiefs at The Royal Bank of Scotland (RBS) and Lloyds Banking Group strike a similar note: ‘We don’t currently use any of them,’ says Michael Shaw, while Kate Cheetham notes: ‘Our use of these offerings is quite limited.’
Canvassing 20 GCs for this piece – including ten from the FTSE 100 – found only four had used the Big Four’s legal services. Continue reading “The Big Four meets GCs – The hard sell”
This title is on the record as having doubts regarding the Big Four’s legal ambitions, at least judged against claims typically made by some outside observers. Readers will all know such assertions: that the group are more sophisticated, slicker and tech-savvy than law firms and set to disrupt law on a global scale.
But while the last 25 years has not yet seen them live up to such claims, the Big Four clearly have formidable assets, contacts and brands and have collectively stepped up their investment in the last three years. Continue reading “Cross-selling to glory will only get the Big Four so far”
Less than a year after it acquired Riverview Law, EY has maintained its acquisitive form by agreeing to buy the managed legal services business of Thomson Reuters.
The acquisition of the business, named Pangea3, will see EY bolster its corporate legal department by more than 1,000 legal professionals across eight service delivery lines. Pangea3 aims to mitigate legal risk, reduce cost and provide efficiency to legal teams. Continue reading “EY makes further inroads into the legal sector after acquiring Thomson Reuters’ LPO arm”
Thomas Alan asks if Deloitte can find a new angle on legal services
The often cited but seldom-seen legal arrival of the Big Four has long passed into a professional joke, though renewed investment from the major accountancy groups in the last three years has given the debate fresh urgency. But, truly, something must have changed in the wind, as even that traditional hold-out, Deloitte, has signalled its intention to build a significant law presence. Continue reading “New Law meets Big Four – Has Deloitte got the conviction to match its free-thinking legal pitch?”
KPMG has added its name to the list of Big Four accountants ramping up their legal service offering in recent months, with a mammoth team hire from French law firm Fidal and the launch of a new legal consulting service.
News emerged today (8 February) that 145 lawyers have left Fidal to join the accountant’s newly created French legal arm, KPMG Avocats. The tax-focused team includes 26 partners, and KPMG Avocats plans to eventually grow its headcount to more than 400. Continue reading “KPMG ups the ante with 145-lawyer hire in France and new consultancy service”
Deloitte has made a clear statement of intent in legal services by announcing today (14 January) that it has lured Allen & Overy (A&O) banking partner Michael Castle across to lead its UK legal arm, as the Big Four outfit looks for greater traction in the legal sector.
Based in Deloitte’s London office, Castle will now lead a technology-orientated legal offering for Deloitte, having spent more than two decades at A&O. Becoming an partner in 2007, Castle was not a standout name in a finance department replete with leading individuals but did gain profile in recent years after unsuccessfully running for the managing partner role at A&O, before eventually being beaten by current leader Andrew Ballheimer. Continue reading “Accountants keep coming as Deloitte hires A&O banking partner as UK legal head”
Building on the Big Four’s sustained attempts to disrupt the legal services market, PwC has extended its presence in the US through a partnership with immigration specialist Fragomen.
The agreement, announced today (24 September), will see the two entities jointly market their respective immigration services in the US. The alliance gives PwC access to Fragomen’s considerable stateside firepower, with the firm boasting 16 offices across the country. Continue reading “PwC ups the ante in legal services with new Fragomen US alliance”
Mere months after New Law pioneer Lawyers On Demand (LOD) secured private equity backers to position itself as a global player, fellow alternative legal services business darling, Riverview Law, has been acquired by Big Four accountancy firm EY.
The financial details of the deal, announced today (7 August), were not disclosed, but Riverview’s turnover is believed to have risen to more than £10m since it launched in 2012, meaning the acquisition is expected to carry a hefty price tag. Continue reading “Into the mainstream: another big New Law exit sees EY acquire Riverview Law”
