Can consulting manage Brexit?

news in brief

Brexit will cost 10,500 City jobs

London financial services firms plan to move 10,500 jobs out of the UK on "day one" of Brexit, with Dublin and Frankfurt the financial centres most likely to benefit from the UK's departure from the EU, according to hawkish professional services group EY.The EY job tracker, which counts job announcements to the end of November, found that the number of roles likely to be affected had fallen from estimates of 12,500 a year ago — but the jobs lost by Brexit will be not just the "back office" ones initially forecast, but "front office" staff who deal directly with clients, reports The Guardian.

Oxera sees border chaos

Economics consultancy Oxera envisages £1 billion a year damage — and vast lorry parks across the south-east — from post Brexit customs checks. Full report on Oxera's analysis of Brexit and the transport sector is here.

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).