‘Clients pay for expertise, not process’ – Grant Thornton rolls out Anthropic AI June 2, 2026 Professional services giant Grant Thornton is rolling out Anthropic across its entire UK workforce as the firm seeks to embed AI in its services at a time when the technology is upending the industry. The accountancy firm’s UK arm said it will roll out Anthropic’s generative AI service, Claude, to all partners across its audit, [...]
Deloitte UK appoints first chief AI officer in drive for ‘AI-enabled’ services June 1, 2026 Deloitte has appointed its first chief AI officer in the UK in a push to become the country’s leading professional services firm, integrating AI into both client services and internal operations. The Big Four giant said it has selected Hayley McKelvey for the newly-created role where she will be responsible for “accelerating the firm’s progress [...]
Private equity-backed Ryan triumphs in bidding for European tax adviser Svalner Atlas June 1, 2026 Private equity-based US accountancy firm Ryan has reportedly agreed to acquire European tax adviser Svalner Atlas Advisors in a deal reportedly worth $400m. Headquartered in Texas and with a presence in London, Ryan specialises in tax services and has BP and BAT among its clients. The firm was valued at about $7bn earlier this year, [...]
Deloitte and KPMG challenge PwC’s iron grip on FTSE 100 clients June 1, 2026 For the first time in nearly eight years, three of the Big Four giants, Deloitte, KPMG and PwC, are locked in a dead heat for FTSE 100 client dominance. A boardroom reshuffle has loosened PwC’s iron grip on clients from London’s blue-chip index, forcing a historic three-way tie at the top of the FTSE 100 [...]
BCG, Bain and Alvarez & Marsal to ramp up entry level hiring despite AI fears May 31, 2026 Three of the UK’s largest management consultancies are boosting the amount of young people and graduates they recruit this year amid sector-wide concern that AI will disrupt junior hiring. Both Bain & Co and Alvarez & Marsal’s UK bosses said they will be stepping up the amount of junior hires over the next few years [...]
Private equity boom slows down as the deal bar rises for City firms May 29, 2026 Private equity interest in professional services remains, but the era of easy deals is over as most attractive targets have already been acquired, and investors are now more selective, writes Maria Ward-Brennan. The bubble around private equity interest in the professional services industry has started to deflate, as most of the “low-hanging fruit” has already [...]
Elite law firm to splash £370m on building own AI tool May 28, 2026 The world’s largest law firm by revenue, Kirkland & Ellis, is investing £370m ($500m) to develop its own custom-built AI platform, challenging competitors that rely on widely used third-party AI tools. The US-based firm, which has a large office in the City, said it plans to spend hundreds of millions over the next three to [...]
Watchdog slaps BDO with £2m fine over serious audit failings May 28, 2026 Accountancy giant BDO and the former head of its London audit group have been slapped with sanctions by the accounting industry watchdog over its work on the construction engineering firm NMCN. The Financial Reporting Council (FRC) imposed sanctions on the firm and its former partner, Geraint Jones, for significant and serious breaches during the 2019 [...]
‘Outdated’ consultancy sector faces a reckoning as AI rips up the old model May 27, 2026 For years, the consultancy sector has relied on a traditional model and profitable formula: retained clients, billing time and upselling clients. Another crucial element has been the blend of ‘senior counsel’ supported by a team of juniors carrying out research and compiling reports. But the rug is being pulled from under this model and a [...]
Octopus acquires legal team to boost bereavement services with AI May 27, 2026 Octopus Legacy, a bereavement service owned by Octopus Group, has acquired a private client team from a large UK-based law firm as part of a push to speed up its services using AI. The company’s legal arm, Octopus Legal Services, has taken on a team of 50 legal professionals from NewLaw Solicitors in “a significant [...]