BDO Stoy Hayward is in the running to value nationalised bank Bradford and
Bingley, the Independent has reported.
The Treasury is expected to announce the appointment by summer. It is
understood that US financial services firm Blackstone is also being considered
but KPMG has already been ruled out given it is B&B’s auditor.
BDO is already working on the valuation of another nationalised bank – it is
being paid £4.5m to value Northern Rock. The B&B job is on a larger scale
and so is expected to command a higher fee.
The successful tenderer will have to contact nearly one million investors to
obtain information necessary to determine a compensation payment for the
nationalisation, in which shareholder stakes were wiped out.
A panel of four chaired by Michael Izza, chief executive of the Institute of
Chartered Accountants in England and Wales, will make the selection.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.