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Today’s news in brief – 20/3/2024

Deloitte is set to undergo its largest global restructuring in a decade to streamline operations and reduce costs amid anticipated market slowdowns. The reorganisation involves consolidating business units from five to four, focusing on areas like audit, strategy, technology, and tax. Led by CEO Joe Ucuzoglu, the restructuring aims to simplify operations, enhance client services, and free up resources. Notably, this move follows Ucuzoglu’s previous dismissal of separating audit and consulting divisions, signalling a strategic shift for the firm.

Armstrong Watson has welcomed Jonathan Lewis as the new corporate finance partner for Yorkshire, leveraging his extensive experience in advising and investing in deals worth over £5bn. Lewis, previously with Olympia Capital Partners, strengthens the firm’s corporate finance team amid its growth phase. Mike Kienlen, head of corporate finance, expresses enthusiasm about Lewis’s addition, highlighting his role in supporting clients and contributing to the firm’s development.

Jon Holt  has secured overwhelming support from KPMG partners for a second term as CEO and senior partner, extending his tenure by five years until September 2029. The re-election follows substantial progress under Holt’s leadership, including transformative initiatives like combining deals and consulting businesses and exploring a potential merger with KPMG Switzerland. Bina Mehta, KPMG UK chair, praises Holt’s contributions and strategic vision, setting the firm on a trajectory for sustainable growth and innovation.

Interpath Advisory has appointed Baréma Bocoum to its group executive committee to accelerate international expansion efforts, particularly into mainland Europe. With over 23 years of experience, Bocoum brings expertise in advising on complex transactions and restructuring across Europe. Mark Raddan, head of Advisory, underscores Bocoum’s role in driving the firm’s ambition to become a leading global advisory and restructuring business. Bocoum expresses excitement about joining Interpath’s dynamic team and contributing to its growth across European markets.

 

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