Given the push that the big four accountants have been making into the legal market over the last year, it is easy to see why management at traditional law firms may be feeling nervous. EY Law’s expansion everywhere from Sweden to South Korea –including partner hires from the likes of Freshfields Bruckhaus Deringer and Addleshaw Goddard – has been hard to miss. Meanwhile, PwC last year committed to further building its 250-lawyer service.
Some firms have already reacted. Eversheds’ addition of a financial services regulatory compliance team to its consulting arm was inspired in part by frustrations that governance, risk and compliance mandates were too often being poached by the big four accountants (EY, PwC, KPMG and Deloitte).
