EY to build ‘legal capability’ in UK

by Calum Fuller

More from this author

28 Mar 2014

  • Comments
Ernst & Young logo

EY is to establish a "legal capability" in the UK, the firm has confirmed.

Managing partner of City law firm Addleshaw Goddard, Philip Goodstone, will join EY as a partner in September.

As yet, EY has not confirmed whether it will seek alternative business structure status, nor has it made clear if further appointments will be made.

EY said in a statement: "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."

Last year, the ICAEW was awarded the right to regulate probate services and license alternative business structures after agreement from the Legal Services Board.

The ability for member firms to be able to offer wider probate services has long been sought by the institute, while ABS licensing allows for accountants and solicitors to joint-own firms.

Alternative business structures were introduced under the Legal Services Act 2007, as part of opening up the legal services market. Also known as multi-disciplinary practices, the structures can have some external ownership and investment, and also a mix of lawyers and non-lawyers working together in client-facing role.

EY entered the legal services market earlier this year when it launched a legal arm in China by incorporating local firm Chen & Co into its network. The Big Four firm created an affiliation with the Shanghai-outfit, as opposed to a shared-ownership structure, in a bid to tap China's growing legal services market, sister publication Legal Week reported at the time.

Chen & Co, a 75-lawyer firm founded in 1998, will remain a separate, licensed Chinese firm but is ultimately expected to move into EY's offices in the Shanghai World Financial Centre.

In February, the legal arm of PwC was awarded dual alternative business structure (ABS) licences by the Solicitors' Regulation Authority (SRA), meaning that PwC can become an owner of PwC Legal, which provides a range of legal services including immigration, corporate, finance and regulation.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Finance Director

The Co-operative 120x60The Co-operative Academies Trust - Manchester - £65k - £75k per year + excellent benefits

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.