Today’s news in brief – 16/1/2025

The UK accounting industry reported a 4.9% revenue decline in November 2024, dropping to £3.97bn. Despite this, revenues remained above the 2024 monthly average of £3.83bn and were 1.4% higher than November 2023. The broader services sector, which includes accounting, saw a smaller 2.8% decline to £237bn. Julie Matheson from Kingsley Napley noted the sector’s underperformance compared to stronger areas like hospitality and IT. She highlighted the non-linear growth pattern seen throughout 2024, urging caution for 2025 business planning. The figures signal challenges for the accounting sector amidst a sluggish UK economic environment.

Quantuma has appointed restructuring expert Tom Parish as a managing director in its London office. Parish, a chartered accountant with over 15 years’ experience, specializes in cross-border and contentious insolvency, asset tracing, and cash flow management. With extensive experience in the Caribbean, including the BVI and Cayman Islands, Parish joins from a Big 4 firm where he held a director role in restructuring. His appointment follows recent leadership hires at Quantuma, signaling its ambitious growth plans. Parish expressed enthusiasm about expanding the firm’s capabilities in London and the Caribbean, while delivering exceptional client outcomes.

Global wealth management group GSB has appointed Hugh Johnson as its chief operating officer in London. Johnson, formerly with The Fry Group and Sanlam, brings expertise in designing client-focused service propositions and leading operational teams. His appointment follows the recent addition of Paul Waterman and Craig Holding to GSB’s Dubai wealth division. Ross Whatnall, GSB founding partner, praised Johnson’s track record of simplifying advice processes and enhancing service offerings. Johnson’s leadership aims to support GSB’s expansion and growth initiatives, strengthening its operations and service capabilities across global markets.