The tax arm of accounting giant PricewaterhouseCoopers has suffered a blow with the exit of Brussels partner Philippe Lion to Baker & McKenzie.
It is understood that the regulatory climate post Sarbanes-Oxley was a factor in Lion’s decision to leave the accounting firm.
Commenting on his departure, the former PwC tax director said: “Auditors independence rules are about to dramatically change the world of tax consultancy. Increasingly, large firms with a strong tax practice and a large network will become major players.”
The hire takes to 13 the number of partners in Baker & McKenzie’s Brussels office, and to 10 the number in the tax group.