Former Deloitte boss and HgCapital launch CogitalGroup

FORMER Deloitte boss John Connolly and private equity firm HgCapital have launched CogitalGroup, a new vehicle which will be used to create a new professional services firm.

The new venture will provide accounting, taxation, financial and other advisory services to entrepreneurial businesses and high net worth individuals.

Blick Rothenberg, the London-based accountancy firm acquired by HgCapital last month, is the first platform acquisition of the group, which is expected to announce a string of takeovers in the coming months.

The move, initially mooted as a challenge to the Big Four, comes as KPMG, PwC, Deloitte and EY have all made forays into the SME market.

Connolly, the former global chairman of Deloitte who served as UK chief executive for 12 years, said: “We feel there is a place in the market for a firm focused on entrepreneurial businesses, delivering a personal service while harnessing the value-enhancing role of technology.

“This approach, already embedded in Blick Rothenberg, provides an excellent foundation for our new business.”