A strong confirmation of what has seemed inevitable for some time. Will be interesting to see how comfortable Deloitte's many law firm clients feel about being audited and advised by a direct competitor.
“This signifies that we are going into legal in the UK,” said Matt Ellis, managing partner for tax and legal at Deloitte. “There is room [in the market] for a lot of players and our competitors in the big four are already operating in this space.” The big four’s legal divisions are already larger than most law firms. Deloitte has about 2,000 lawyers, while PwC has 3,500, which would make it a top 10 firm by headcount if considered a standalone outfit.