Mr Tsolakis says that the Big Four are concentrating on tax, employment and other areas that complement their existing, traditional accountancy services. But he added: 'The smart money … is on the accountants going head-to-head with the established legal order over lucrative capital markets and transactional activity once they have taken sufficient market share from the mid-tier.'
EY trebling
EY, for instance, plans to have 150 lawyers working in the UK by 2020 - three times the number of its current 50-strong team. Source: Legal Cheek
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