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.