news in brief

EY joins FinTech

London: EY is the first Big Four firm to sign a membership deal with Innovate Finance, the leading global FinTech association based in the UK, as part of its commitment to build its FinTech practice and champion the UK as the world's global hub for FinTech innovation. Innovate Finance already has a community of over 120 FinTech companies, including startups, established financial services institutions and two $1bn "unicorns".

KPMG buys High-Point Rendel arms

London: KPMG has acquired the assets of the strategic management and commercial consultancy arms of High-Point Rendel Ltd, an international project consultancy company, for an undisclosed sum. High-Point Rendel Ltd clients principally operate in the energy, transport and oil and gas sectors. KPMG says it has an outstanding track record in the turn round of projects suffering delays or cost overruns — which may prove useful because its 35 staff are joining KPMG's Major Projects Advisory team, which has advised on large scale infrastructure projects including the much derided HS2 Limited. The new practice will be known as KPMG-HPR.

Clarasys joins MCA

London: Fast growing London consultancy Clarasys has joined The MCA (Management Consultancies Association).

Deloitte creates jobs

London: The Chancellor of the Exchequer, George Osborne, today announced 1200 new jobs at Deloitte, the business advisory firm, with 500 new positions in its newly opened digital business. Osborne made the announcement as he officially opens Deloitte's new technology studio in London. The firm is hiring some 4,500 people across the group up to December 2015 with 2,000 positions going to graduates and school leavers. As it expands its digital business has pledged its support to the Government's Your Life campaign, aimed at increasing the number of women studying science, technology, engineering and maths (STEM) subjects.

TCS enjoys strong Q1

Mumbai: India's Tata Consultancy Services saw net income up 6% to $898 million on revenue up 9% to $4.03 billion in its first quarter to June 30, 2015. CEO and MD, N Chandrasekaran said: "Demand from our core markets like North America and greater traction for 'Digital' solutions in key verticals like Financial Services, Retail and Life-Sciences has driven volumes and growth in Q1. Our significant investments in IP and platforms, digital capabilities and our execution track record gives, us a firm foundation to capture growth in the current financial year."