A look back at the most read stories on eprivateclient this week...
Monday
Monday saw the publication of the 2023 eprivateclient Top Law Firms’ rankings – the fourth of five instalments following the publication of following the publication of the 2023 Top Family Law Firms, the 2023 Top Accountancy Firms and the 2023 Top Offshore Law Firms. Next week will see the publication of the final rankings – the 2023 eprivateclient Top Trust Companies.
UK law firm Myerson Solicitors hired Adam Carvalho as a legal director as part of its ongoing period of organic growth. He joined Myerson's contentious trusts and probate team at the legal director level, having previously been a partner at London law firm Farrer & Co.
Tuesday
KPMG UK is set to combine its consulting and deal advisory arms to create a new practice called Advisory designed to simplify the firm’s organisational structure and better meet KPMG UK’s client needs with an ‘end-to-end’ service under one roof. The new advisory business will be led by Lisa Fernihough and will start serving existing and new clients from 1 January 2024.
EY recorded consecutive years of double digit growth in the UK with revenue increases of 16 percent and total revenues of £3.8 billion in the UK in the 2023 financial year. The company-wide UK growth was reflected in individual service lines with revenues in tax growing by 20 percent, in consulting by 18 percent, in assurance by 17 percent and in strategy and transactions by eight percent.
Wednesday
UK law and accountancy firms made the top 75 employers for social mobility, according to the Social Mobility Foundation's 2023 employer index. 2023 eprivateclient Top Accountancy Firms PwC, Grant Thornton, KPMG, EY and Deloitte made the ranking, at first place, third, fourth, 26th and 57th respectively.
High net worth individuals (HNWIs) are placing value on their replicas of luxury goods, according to recent research commissioned by specialist insurer Ecclesiastical. The survey found that 51 percent of HNWIs knowingly purchase replica collector’s items, with 83 percent of this group taking measures to protect these collections. At 38 percent, HNWIs collecting paintings are most likely to knowingly purchase replicas. [Read more]
Thursday
London law firm Russell-Cooke hired 2017 and 2018 eprivateclient Top 35 Under 35 James Cook as a partner in its private client team. Mr Cook joined from rival law firm Collyer Bristow, where he was a partner in its tax and estate planning team from 2019.
Also on Thursday, Melody Munro, senior associate at Farrer & Co, discussed what can be done about the rise of predatory marriages. The article covered ways that predators benefit, the relevance of the Law Commission's recently launched consulation on will making and alternative solutions.
Friday
Wealth manager and professional services provider Evelyn Partners acquired Kent-based Creaseys Group, a firm of accountants and tax specialists. As part of Evelyn Partner's growth strategy, in February it acquired Leathers which operates from offices in Newcastle and Harrogate and in April it acquired Cambridge-based firm the Ashcroft Partnership.
Sanctioned Russian billionaire Alexei Kuzmichev has been arrested in Saint-Tropez in relation to an investigation into alleged money laundering, tax evasion and violations of EU sanctions. The France anti-corruption office investigation also included raids on Mr Kuzmichev's properties in Paris and Saint-Tropez.