Latest rumor … KPMG … just heard that KPMG was next in line to sell themselves out … and have a PE firm acquire their Global Mobility practice… who will be next? KPMG, Deloitte or EY ?

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We just stirring up garbage on a Friday now?

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PwC 1 you’re getting me hooked on this. Now I’m curious on who all these buyers are. Just because we lead the market with a huge event … (nice to be first btw for a change), sends others into a frenzy. When I heard about KPMG I asked don’t you mean pwc and they confirmed no KPMG. (But maybe it was still misheard, our pwc sale is a big deal). Have a great weekend.

The rationales for Big 4 firms staying owned by Partners and Principals has dwindled. Costly buy-ins, unsustainable pension model, unwieldy voting and control structures, no shared ownership potential for 85% of the employees of firm…it’s just ridiculous.

Accenture has proven that consulting firms can be public and do fine. Goldman Sachs ditched the partnership model decades ago. Large PE firms are all public. Law firms hold onto partnerships because their smaller size and ‘traditions’ I suppose justify it. 50,000+ employee firms…partnership…? Weird.

Assurance practices can deal with their the antiquated AICPA and state accountancy boards. The path to transformation for the Big 4 is to go public and it’s not surprising or unreasonable that the precursor to getting Big 4s to IPOs is through leveraged buyout.

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That’s right. If they want to retain talent especially considering tech has considerable upside via stock options.

Deloitte already said they’re not selling our global mobility practice. It’s one of our biggest profit margin groups surprisingly and is easiest sourceable to India

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We not going to be able to do Form 5471’s for our assignees as that corporate tax group stays with pwc … we also lost our technical guru, she got poached by Andersen Tax. Gonna be a rough ride for our GMS NewCo.

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Lol yeah right. Big 4 partners have forced retirement. There’s no incentive to sell out of their money train like there would be with a smaller firm that doesn’t have the ability to force out old partners who won’t retire

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What happens to the employees during a sell out?

Nothing except the promise of greatness … opportunity and game changing events … until the cool aid runs out.

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Is it true that GMS senior manager and director only are getting a bonus recently due to galaxy/newco/then sale?

They’ve got to do something to keep people. I see partners and directors leaving all over the place, while our new CEO continues to announce new hires online.

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