PwC Legal chief: we can be a top 20 global legal services business in five years

  • Print
  • Comments (23)

Readers' comments (23)

  • The spelling issue seesm to have taken over. Fairly obvious that Kelsey Grammar and Real Estate Babe are being ironic given the exact replica spelling mistakes. More importantly, it will be a while before the serious law firms consider the Big 4 a threat but those at the commoditised end of commercial or employment work are right to be worried.

    Unsuitable or offensive? Report this comment

  • Yes PwC could easily accomplish its goal of becoming a "top 20 global legal services business in 5 years". And the Queen of England could personally serve coffee at a stand in front of Starbucks Westminster on Broadway, and if compromised her integrity to do that it would likely decimate Starbucks' business. London bobbies could even sell protection services on the side, guaranteeing more patrols in exchange for a little cash to supplement officer income. Certainly the Big Four, each of whom is placed in the unique position of trust that auditors of public companies are, may want to expand their professional services franchises into more lucrative professional services areas where competence in that area may not be the primary motivation for engagement. The real question is, how long will it take regulators to smarten up and patch that hole in the conflict dike?

    Unsuitable or offensive? Report this comment

  • If it were Bond Dickinson saying this then I'd back them.

    However it's not realistic when it's an accountancy firm. Conflicts get in the way. There are big differences in the business models.

    Unsuitable or offensive? Report this comment

  • It now appears to be a three way race between law firms, accountancy firms and the likes of Axiom and Cador. My money is on Axiom and Cador (and the others that operate similar models).

    Unsuitable or offensive? Report this comment

  • Breathtaking complacency not to see this as a major threat to traditional law firms. Clients increasingly no longer care who gives them 'legal' advice. A one stop shop that sells analytics and data as well as legal advice is going to look very attractive compared to the law firms, who, at the end of the day, really only sell words.

    Unsuitable or offensive? Report this comment

  • Others have tried and failed - which begs the question how will this be different. the issue of conflict of interest is likely to put a major dampener on this as however you dress it up this just adds more conflicts to a market already crowded with professional service providers (with common shareholding/ownership) selling related services; auditing, consulting, M&A advice etc. Add legal services into this already conflicted mix and someone is going to put their regulatory or PI oar in sooner or later. We are already working with firms who are having difficulty getting PCs for staff who work across multiple disciplines on the same matter.

    Unsuitable or offensive? Report this comment

  • They already pretend to be lawyers down here in Ozlandia under the guise of providing 'procurement' and 'probity' advice. To be fair it's not the accounts, but ex-engineers and commerce grads playing management consultant. Not glamerous, but pays well when you are dealing with government clients. Watch out you mob...it'll be death by a thousand powerpoint slides.

    Unsuitable or offensive? Report this comment

  • Well they can kiss goodbye to the forensic and insolvency work I have been sending to them. You've bitten the hand that feeds you and now you are dead to me.

    Unsuitable or offensive? Report this comment

  • Didn't the Big 4 try this before with limited (if any) success around the turn of the century?

    What springs to my mind in the UK are Andersen/Garretts/Dundas, KPMG/KLegal/Mcgrigors and PwC/Arnhem, Tite & Lewis. I don't know about EY and I don't know about jurisdictions outside the UK. What I do know is that none of the tie-ups I mention seem to have worked but I'm happy to be corrected.

    Unsuitable or offensive? Report this comment

  • The conflict issue is getting ever less relevant. Legal services are becoming just another service and provision is going to become ever more automated.

    Companies like Google, IBM, BT, banks etc already hold vast amounts of highly sensitive information about all manner of companies which compete with each. It is just information at the end of the day and organisations have a commercial interests in keeping their clients information confidential and providing the best possible service to every customer.

    Unsuitable or offensive? Report this comment

View results 10 per page | 20 per page | 50 per page

Have your say

Mandatory Required Fields

Mandatory

Comments that are in breach or potential breach of our terms and conditions in particular clause 8, may not be published or, if published, may subsequently be taken down. In addition we may remove any comment where a complaint is made in respect of it. These actions are at our sole discretion.

  • Print
  • Comments (23)