EY on hiring drive for legal venture

EY has become the latest Big Four advisory firm to confirm a move into legal services.

Rivals KPMG and PwC are already establishing teams nationally, and at local level, and now EY has been granted a licence by the Solicitors Regulation Authority, to provide legal services in England and Wales as an alternative business structure.

The firm says it wants to “become an integrated, multi-disciplinary practice providing corporate, commercial, employment and financial services legal advice alongside its existing services.”

EY has already appointed three UK partners, and the team will be led by Philip Goodstone, formerly of Addleshaw Goddard, where he was corporate managing partner, and Matthew Kellett. Kellett will lead financial services, Goodstone will head up all other services and Daniel Aherne will build and lead the employment law team. A further 30 people will be recruited in the next six months, the firm said.

Steve Varley, EY’s UK chairman and regional managing partner in the UK & Ireland, says: “We aren’t competing with the business models of traditional law firms; we are offering something new. By working closely with other parts of the organization, clients will benefit from our global scale, in-depth industry knowledge as well as having a single point of contact for all of their professional service needs.

“Whether advising on large transactions, employment structures or group reorganization projects, having lawyers, accountants and other professional advisers working side by side will be a real advantage to our clients and ultimately help us to provide a better level of service.”

Goodstone added: “While we are still in the recruitment phase, we have already received strong levels of interest from a number of clients. Our priority is now to grow the team to ensure that we are able to meet this demand. We welcome the opportunity to build a quality UK offering with both junior and experienced lawyers in a strong multi-disciplinary practice.”