Jonathan Franklin, E&Y partner and head of M&A, said there was a robust level of private equity transactions, a strong area for E&Y.
‘We don’t see the market contracting, either because private equity work will continue or mergers and acquisitions work will increase.’
But Franklin confirmed that recruitment pressures on professional services firms was an issue, especially when young corporate finance staff moved on to investment banks.
Deloitte partner Maghsoud Einollahi said that while it was difficult to recruit experienced staff into corporate finance, the problem should be ‘no bigger’ in 2005 than before, and should not stop the firm from improving its performance.
KPMG head of corporate finance Guy Warrington said: ‘Investment banks will continue to put resources at the larger end of transactions, so I predict continuing success.’
See www.mergermarket.com for more.
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