PwC may Spin off Corporate Finance Unit
More changes are in store for PricewaterhouseCoopers and their massive restructuring. The latest unit up for consideration is Corporate Finance, part of the firm's Financial Advisory Services Practice.
PwC has just appointed Morgan Stanley Dean Witter to provide advice on alternatives for selling all or part of the practice, but analysts believe a sale is inevitable given the restructuring initiatives the firm already has announced.
This includes the split of the firm's technology and consulting practice away from core accounting services. The restructuring comes in the wake of last year's SEC charges that the firm had more than 8,000 concerns or investments in client businesses.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.