Accountancy giants want M&A experts
The biggest audit and accountancy firms around the globe, including EY and PwC, are keen to bring in workers with M&A experience in order to rival banking institutions with established processes in this potentially lucrative line of business.
A host of experts recently told the Financial News that professional services companies are keen to snatch a slice of the action from investment banks, even if it means carrying out expensive lateral hiring plans.
EY, KPMG and PwC have all made notable appointments in London in recent weeks and more are expected over the course of 2014.
Dougald Middleton, EY’s head of lead advisory, said he was looking to double the number of partners in his company's advisory business in the next three to four years - there are 24 people currently involved in this sector within the organisation.
This chimes with comments from Bill Michael, head of financial services at KPMG, who said the trend of professional services firms moving into M&A is still in its "infancy". He expects hiring plans to accelerate rapidly.
Senior switches in the past month include Jamie Heath, a partner at Centerview who joined EY, Richard Gostling, the head of business services at Goldman Sachs now with KPMG and Jefferies’ real estate chief Simon Hampton, snapped up by PwC.
Kevin Burrows, head of financial services at PwC, said: “You can see the sorts of hires that we are making. We’re never going to be at the top end of deals, we’re always going to be there for small and medium deals – but there’s a feeling that we can go toe to toe with anybody in that space.”
Professional services firms have also made efforts to move into the legal sector of late as they attempt to diversify their portfolio.
For senior finance professionals, there are several reasons why a move to an audit organisation could be attractive.
Salaries are often cash-based rather than relying on stocks or shares, meaning basic remuneration can be higher. Furthermore, less emphasis is based on performance-related bonuses.
Signup to receive the latest discipline specific articles
Related articles
Teaser
GovernanceContent Type
Fintech
18/04/24
Summary
The role of risk and compliance in financial services As a sizeable, growing portion of the financial services sector, risk and compliance play a vital role in ensuring that firms conduct busine
by
David Clamp
Teaser
Executive SearchContent Type
General
18/04/24
Summary
Private equity (PE) is a growing industry that has always attracted ambitious top talent due to its high risk/high gain capital investment. Pre-covid, we saw the global private equity industry b
by
Tracey Alper
Teaser
Commerce & IndustryContent Type
General
18/04/24
Summary
What is financial contracting? Financial contracting refers to the practice of hiring finance professionals on a contractual basis to fulfil specific roles or projects within an orga
by
Kelvin Murphy
Related jobs
Salary:
Negotiable
Location:
Chorley, Lancashire
Industry
Consumer & Retail
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
Finance Manager (Management Accounts) - 40% home working
Reference
BBBH180107
Expiry Date
01/01/01
Author
Laura HalloranAuthor
Laura HalloranSalary:
£22 - £25 per hour
Location:
Manchester, Greater Manchester
Industry
Healthcare
Qualification
Part qualified
Market
Commerce & Industry
Salary
£150 - £250
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
Senior Accountant | Manchester | Up to £25.00 per hour | 3 month contract | Hybrid
Reference
BBBH180106
Expiry Date
01/01/01
Author
Jamie MillerAuthor
Jamie MillerSalary:
Up to £41,000 per annum
Location:
Warrington, Cheshire
Industry
Business Services
Qualification
Part qualified
Market
Professional Services
Salary
£40,000 - £50,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
Management Accountant | Warrington - Hybrid | 9-12 month Contract | £41,000
Reference
BBBH180018
Expiry Date
01/01/01
Author
Evie CoatesAuthor
Evie CoatesSalary:
£27,000 - £32,000 per annum
Location:
City of London, London
Industry
Business Services
Qualification
None specified
Market
Commerce & Industry
Salary
£30,000 - £35,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Contract
Description
11 month temporary contract for an Accounts Receivable Assistant with the chance to go permanent at a business services company based
Reference
BBBH180105
Expiry Date
01/01/01
Author
Chelsea MillsAuthor
Chelsea MillsSalary:
€60,000 - €70,000 per annum
Location:
Dublin South, Dublin
Industry
Consumer & Retail
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£60,000 - £70,000
Job Discipline
Qualified Finance
Contract Type:
Contract
Description
FP&A Manager - 12 month contract with further opportunities Fantastic client in telecommunications/retail industry. Opportunity to build experience in FP&A as well as Business Partnering.
Reference
BBBH180100
Expiry Date
01/01/01
Author
Sarah FallonAuthor
Sarah FallonSalary:
£60,000 - £70,000 per annum
Location:
Bristol
Industry
Transport & Logistics
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£70,000 - £80,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
Commercial finance - Financial Analysis - Business Partnering... this has it all!
Reference
BBBH180060
Expiry Date
01/01/01
Author
Craig KilminsterAuthor
Craig KilminsterSalary:
£30,000 - £32,000 per annum
Location:
Warrington, Cheshire
Industry
Business Services
Qualification
None specified
Market
Commerce & Industry
Salary
£30,000 - £35,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Purchase Ledger Supervisor
Reference
BBBH180004
Expiry Date
01/01/01
Author
Glenn FyfeAuthor
Glenn FyfeSalary:
£65,000 - £75,000 per annum
Location:
Alfreton, Derbyshire
Industry
Consumer & Retail
Manufacturing
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£70,000 - £80,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
Marks Sattin are working with a fantastic PE Backed FMCG Organisation on the Derbyshire / Nottinghamshire border to recruit a Head of FP&A.
Reference
BBBH179456
Expiry Date
01/01/01
Author
Anthony MillsAuthor
Anthony MillsSalary:
£70,000 - £80,000 per annum
Location:
Bournemouth, Dorset
Industry
Technology
Qualification
None specified
Market
Commerce & Industry
Salary
£80,000 - £100,000
Job Discipline
IT Analysis
Contract Type:
Permanent
Description
IT Requirements Engineer
Reference
BBBH180099
Expiry Date
01/01/01
Author
Ghazal MayahiAuthor
Ghazal MayahiSalary:
£36 - £41.5 per hour
Location:
Manchester, Greater Manchester
Industry
Healthcare
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£250 - £350
Job Discipline
Qualified Finance
Contract Type:
Contract
Description
Senior Transactional Lead | Manchester | Up to £41.50 per hour | 3 month contract | Hybrid
Reference
BBBH180097
Expiry Date
01/01/01
Author
Jamie MillerAuthor
Jamie Miller