Here come the accountants, part 2: EY to enter legal market

Print This Post

27 March 2014


EY: legal capability will complement existing service offerings

The prospect of the ‘big four’ accountants challenging the City status quo moved up another notch today after EY hired a senior lawyer to build a “legal capability” in the UK.

Hot on the heels of PwC gaining an alternative business structure (ABS) licence, EY has appointed Addleshaw Goddard corporate managing partner and head of structured real estate Phillip Goodstone.

In a statement, EY said: “We can confirm that EY has appointed Philip Goodstone, who will be joining the firm as a partner in September. The appointment has been made with a view to building a legal capability for EY in the UK, subject to regulatory approval, which would complement the firm’s existing service offerings.”

EY declined to confirm whether or not it is making an ABS application, although the reference to “regulatory approval” would suggest that it is.

Mr Goodstone specialises in advising clients with significant real estate assets on major corporate transactions and has a particular focus on Malaysian clients.

This will not be EY’s first venture into legal services in the UK. In 2000 City firm Tite & Lewis – which had originally been set up in association with Coopers & Lybrand, as it then was – relaunched as the ‘correspondent’ law firm of EY.

However, the arrangement came to an end in 2004 and Tite & Lewis merged into Lawrence Graham.

EY already has legal operations elsewhere around the world and says on its website that the legal practice is “undergoing global expansion”.



Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

Rating lawyers by their wins and losses – a good idea?

Robert Ambrogi

Lawyers will give you any number of reasons why their win-loss rates in court are not accurate reflections of their legal skills. Yet a growing number of companies are evaluating lawyers by this standard – compiling and analysing lawyers’ litigation track records to help consumers and businesses make more-informed hiring decisions. The shortcomings of evaluating lawyers by win rates are many. Not least of them is that so few cases ever make it to a win or loss. Of equal concern is that, in the nuances of law practice, it is not always obvious what constitutes a win or a loss.

February 22nd, 2017