PracticeConsultingDeloittes seeks alliance with City law firm

Deloittes seeks alliance with City law firm

Jim Copeland, chief executive at Deloitte & Touche Tohmatsu, has said the firm is seeking a formal, global alliance with a City legal practice.

Copeland was reported in the Sunday Times as saying he wanted a ‘legal partner with a strong brand name and international reach to help service clients more effectively’.

‘When we try to solve a client problem like a merger or acquisition we need a series of competencies all over the world. We can bring quite a few of them, but we need legal expertise as well,’ he added.

The legal alliance would see the law practice advising clients in specific service areas such as corporate finance and contract work. It would avoid the necessity of a full merger, something which worries regulators, who fear client service could suffer if a firm served too many companies.

An alliance, however, would mean the accountancy firm and the legal practice would maintain financial independence and the alliance would not be owned by either.

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