In sharp contrast to PricewaterhouseCoopers (PwC) and Landwell, Ernst & Young (EY) chose to strengthen its ties with its legal network.
In June, Ernst & Young Law Alliance rebranded itself as EY Law following a lengthy strategic review. The new network, comprising more than 40 legal practices around the world, will focus predominantly on clients that are non-audit clients of EY.
However, Tite & Lewis, the English member of the original network, snubbed the new alliance, leaving EY Law without a legal member in the key London market (First revealed on Lawyer News Weekly, 18 June).
EY’s affiliated US firm McKee Nelson, a tax litigation specialist, also stayed out of the new network.
It was easy to see why EY decided to sideline audit because, unlike PwC, EY has the luxury of a relatively weak audit practice. However, if Tite & Lewis did not want to forge closer links with EY, why did it join the network in the first place?