It is the second departure of a senior figure from E&Y in as many weeks.
Last week Jock Lennox, the man who lost out to Mark Otty in the race to lead E
&Y in 2005, announced he would take early retirement next year.
The Davies move will be viewed as a blow to E&Y, which is trailing
Deloitte, KPMG and PwC in revenues. It is also integrating its 87 national firms
into a single unit under a new management structure announced in April.
Davies said: ‘I have made this decision [to leave E&Y] because I want to
work with the leading tax practice in the UK and globally. I believe the
strength and depth of the PwC tax practice’s expertise is a real differentiator
in serving clients consistently across the world.’
Ian Powell, PwC’s UK chairman, said: ‘This appointment is part of an ongoing
programme to ensure we have the best people for the success of our business and
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