The former UK boss of EY and the former chief operating officer of PwC are to set up a rival accounting and consulting firm with backing from an American private equity house.
Unity Advisory is due to open for business this summer under the chairmanship of Steve Varley, who ran EY’s UK arm for nine years until June 2020. Its chief executive will be Marissa Thomas, who left PwC in February having been overlooked for the top job this time last year.
In another demonstration of private equity’s growing interest in the professional services industry, Unity has the backing of Warburg Pincus, which is putting in as much as $300 million, according to the Financial Times, which first reported the news.
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