BUSINESS ADVISORY SERVICES
Big 4’s management consulting arms gain muscle
The management consulting business has been growing 25-30% for all firms in the last two years. At the Big Four, the total number of partners engaged in strategy, operations, and the top end of digital advisory — areas typically dominated by firms like McKinsey, BCG and Bain — stands close to 300, with consultant numbers at 5,500-6,000. However, the varying number of digital consultants each firm adds to management consulting complicates direct comparisons.
Cushman & Wakefield launches advisory platform to help firms set up capability centres
Global property consultant Cushman & Wakefield on Wednesday announced the launch of an integrated advisory platform to help multi-national companies set up Global Capability Centres (GCCs) in India, Philippines and some other countries. At present, there are around 1,600 GCCs operational in India and the number is expected to rise exponentially to more than 2,400 by 2030.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
Godrej Properties sells 5% in Godrej Green Homes to Godrej Fund Management
Godrej Properties sells 5% equity stake in Godrej Green Homes to Godrej Fund Management and Investment Advisors for Rs 46.70 crore.
Nothing personal against Burmans; working in best interest of Religare: REL Chairperson Rashmi Saluja
Religare Enterprises Ltd (REL) Chairperson Rashmi Saluja has denied any personal resentment towards Burmans, who are in a dispute with management over control of the financial services firm. Burmans, who own around 25% of REL through four entities, announced an open offer to acquire a 26% stake from public shareholders. Saluja defended the relationship with all shareholders, including Burmans, for the last six years and stated that the board's concerns should be put to the rest.
Mukesh Ambani's fintech juggernaut starts rolling: The road ahead
Ambani's latest fintech business under Jio Financial Servics Ltd (JFSL) aims to ride on extensive consumer network as well the data Reliance has acquired. The tracks that consumers leave while shopping and using Reliance products and services will form a strong databank for JFSL.
Global capability centres lease 17% more space in FY24
Global capability centres (GCCs) increased their space usage by 17% in FY 2023-24, reaching 22.5 million sq ft, driven by engineering, BFSI, and technology sectors, according to CBRE. GCCs are a key driver in India's office sector, projected to lease 40-45 million sq ft by 2025, with India hosting over 1,900 GCCs.
Minority shareholders to benefit from ITC Hotels demerger: Proxy advisory firms
"The structure will enable ITC Hotels to operate with an optimal capital structure with the ability to access capital to fund its growth requirements.
Technology-enabled professional services firm Sikich Secures $250 Million minority growth investment from Bain Capital
Sikich LLC received a $250 million investment from Bain Capital to accelerate growth and maintain professional services leadership under CEO Christopher Geier.
Making independence count
Sebi recently fined two independent directors (IDs) ₹10 lakh each for neglecting their statutory duties and failing to protect shareholders' interests, highlighting the increasing scrutiny on IDs. The role of IDs has evolved to encompass crisis management, risk assessment, and sustainability, as per CII guidelines. There's a call for robust evaluation mechanisms for IDs and legal safeguards to protect them from personal liability. Sebi's decision coincides with the tenure rule for IDs introduced by the Companies Act, raising concerns about the independence of IDs, especially those with ties to the promoter group or former employees.
Universities, student groups lobby PM Sunak to protect UK's post-study visa offer
Universities and student groups urge PM Rishi Sunak to retain UK post-study visa, crucial for Indian students seeking work experience. Concerns arise over potential restrictions amidst soaring migration figures. Letters highlight economic benefits and positive impact on UK's global standing. Universities warn of financial repercussions without visa scheme.
Capital markets and dispute resolution will keep law firms busy in coming years: Harry Chawla, Luthra and Luthra Law Offices
Technology integration drives legal sector growth, with rising demand for regulations, advisory services, and increased M&A activity. Focus on AI, blockchain, data privacy, cybersecurity, and geographical expansion to enhance client service and efficiency.
Wall Street Week Ahead: Stock market's record-setting rebound may have further to go
Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% in April, is now up 11% year-to-date.
AI boom set to fuel data centre deals in Asia this year
The intense pace of deals in the world's most populous region comes as countries and companies respond to booming demand for AI, calling for more data capacity, industry executives said.
Our overall AUM contributing to huge top and bottom line growth: Sanjay Shah, Prudent Corporate Advisory
So, I think we are very confident that SIP is an evolving story for the retail people and there is a strong TINA factor because there is no alternative for people to invest a small-small amount other than the SIP from a very longer-term perspective.
Paytm COO & president Bhavesh Gupta resigns; to take on advisory role
Paytm's chief operating officer and president Bhavesh Gupta resigned on Saturday in yet another top-deck exit at the fintech company. The Noida-headquartered firm also announced changes in its leadership structure. Paytm Money CEO Varun Sridhar will be replaced by Rakesh Singh.
There is a critical need for upskilling initiatives in India, says Pearson executive
In an interview with ET’s Sreeradha Basu, Jane Baker, vice-president, Workforce Skills at learning company Pearson said India stands out as a leader in the global upskilling market due to its sheer volume of learners seeking to enhance their skills and through the active support of government initiatives like Skill India.
Suits & Sayings: Hot Tin Roof
ET’s roundup of the wackiest whispers in corporate corridors.
Switched AUM trail commissions: What does it mean for investors and distributors? Sanjay Shah answers
Sanjay Shah, CMD of Prudent Corporate Advisory Services, discusses the impact of AMFI's new circular on AUM trail commissions, the benefits for investors, and the shift in investor preferences for lump sum investments away from small and midcaps. Shah says there is no change as far as TR or expense ratio is concerned because otherwise also, the AMC used to pay trail to old advisors.
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