July 22, 2018

Some Big 4 Alumni Just Can’t Quit Their Old Firms

And it's actually 20% for partners, principals and executive directors, according to article

Then there's this gem from KPMG:

Each year, 10 percent to 15 percent of KPMG's 4,500 "experienced new hires" are actually rehires — or boomerangs, as they are commonly called. [Executive Director of Experienced Hire Recruiting Eileen] Raymond believes former employees are enthusiastic about rejoining the professional-services firm because there's a "great buzz" about its new initiatives.

We've said it before, we'll say it again: You can always go back. And apparently quite a few people do.

Coming Home [HR Execuitve Online]

Related articles

Ernst & Young Is Here to Help (For a Small Fee)!

ernst_young.jpgWe thought that Ernst & Young was advising the New York Fed on the winding down of AIG out of the goodness of their hearts but it turns out it’s actually about the money.
E&Y could make as much as $60 million advising the New York Fed, which is 50% more than the initial agreement, according to Bloomberg. The NYF is also reimbursing E&Y for expenses, up to 10% of the professional fees. This occurs after the parties had initially said $40 million would be the cap but $60 mil is it, we swear, no more.
And because E&Y is solid like that, the firm is billing out partners and directors at discounted rates ($775/hour). I mean, ’cause, let’s face it, this thing’s a mess and E&Y is going to be working hard, working late, working weekends.
Ernst & Young’s Maximum Pay for AIG Advice Swells [Bloomberg]

Review Comments | 07.20.09

ernst_young.jpgLawyer: Ernst auditing helped sink Hinsdale’s Superior Bank – Plaintiff Alan Schein is still claiming conspiracy on E&Y’s part. [Daily Herald]
Securities Lawsuits Plummet in 2009 – Because they’ve all been filed already [CFO.com]
Stanford case spreads its tendrils – For a Ponz that simply offered CD’s with out of this world interest rates, the international law and jurisdictional aspects will turn your head in knots. [FT.com]
TD Ameritrade Settles Securities Case – “TD Ameritrade Inc. agreed to buy back $456 million of auction-rate securities from its clients as part of a settlement with New York Attorney General Andrew Cuomo, the Securities and Exchange Commission and Pennsylvania securities regulators.” [WSJ]