PwC Legal to be absorbed into accountancy firm’s wider business

Print This Post

30 September 2016


Brookes: logical step

Brookes: logical step

PwC – the first of the ‘big four’ accountants to gain an alternative business structure (ABS) licence – has become a true multi-disciplinary practice by merging its connected law firm into the wider business, in a move that has been welcomed by the Solicitors Regulation Authority.

PwC Legal became an ABS in early 2014, with PwC becoming a corporate member of the law firm’s partnership.

Both KPMG and EY, which were licensed as ABSs later the same year, did not set up separate businesses.

Kevin Burrowes, head of clients and markets and executive board member at PwC, said: “This is the natural next step. PwC Legal has a simple strategy to offer advice that complements services provided by PwC. By fully integrating PwC Legal into the rest of our business, we are better placed to meet increasing client demand for more holistic advice.

“The ability to embed legal advice more fully into our advisory services allows us to better help our clients solve their complex challenges and problems, particularly as the UK heads towards the unchartered territory of Brexit.”

PwC Legal has 16 partners, 26 directors and a 350-strong UK team in total, based in London, Birmingham, Newcastle, Manchester and Belfast. It reportedly had a turnover of £60m for the last financial year, up around 25% from the previous 12 months. Its practices covers areas such as cyber security and data protection, corporate reorganisation, disputes, employment, immigration, M&A, pensions and technology.

Shirley Brookes, senior partner at PwC Legal, added: “We’ve invested heavily in our people and skills and all of our practice areas grew this year. The integration into PwC is the logical step given the shared aim of both firms to deliver high-quality, high-value services to clients through strong relationships.”

Crispin Passmore, SRA executive director for policy, added: “Clients have always had needs that cut across professional boundaries and subject specialism. A multi-disciplinary service allows those clients to get access to all the services they need, organised at their convenience rather that the convenience of professions.

“We therefore welcome PwC’s shift to become a full multi-disciplinary practice. It is one more example of how modern regulation can work to support innovation.”



Leave a comment

* Denotes required field

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

Legal Futures Blog

GDPR and the rise of ‘datanapping’ – the new threat to the pockets of law firms

Nigel Wright

You’ve heard about ransomware – a hacker infiltrates your IT systems, locking them down until you pay a ransom. Some studies now estimate that over 50% of businesses have experienced this type of attack in the last year, and it’s particularly prevalent within the legal sector. Previously, firms could protect themselves by having a solid disaster recovery plan in place to ensure they can get back up and running in the event of a disruption. However, the General Data Protection Regulation (GDPR) – the new EU-wide regime which comes in effect on 25 May 2018, irrespective of Brexit – means that this approach alone is no longer adequate and security measures must be strengthened to prevent attacks.

April 21st, 2017