Ex-BCG boss Quickenden to chair Cinven-backed Grant Thornton

A erstwhile brag of the consultancy steadfast BCG is being drafted successful to seat 1 of Britain's biggest auditors by its caller backstage equity backers.

Sky News has learnt that Stuart Quickenden, who is present a elder advisor to BCG successful the UK, volition beryllium named president of Grant Thornton UK successful an announcement expected connected Friday.

His assignment volition travel astir 9 months aft Grant Thornton's UK partners voted to o.k. the merchantability of a bulk involvement successful the steadfast to Cinven, the buyout firm.

The deal, which was understood to worth the accountancy steadfast astatine astir £1.5bn, formed portion of a unreserved of deals successful the nonrecreational services sector.

Mr Quickenden has a beardown pedigree successful the industry, and present besides serves arsenic president of Octopus Investments, a backer of myriad early-stage companies.

Grant Thornton UK sits conscionable beneath the ranks of the large 4 audit firms, a radical comprising Deloitte, EY, KPMG and PricewaterhouseCoopers.

In its past fiscal year, Grant Thornton's astir 250 UK partners earned mean wage packets of £682,000.

The steadfast audits a fig of FTSE-350 companies, portion its restructuring part is the head to Greensill Capital, which is progressive successful the liquidation of Sanjeev Gupta's Speciality Steels UK.

A drawstring of deals has taken spot successful caller months crossed the nonrecreational services sector, including AlixPartners raising caller indebtedness financing successful an oversubscribed woody and MHA - the UK limb of Baker Tilly - floating connected the London Stock Exchange.

Cinven declined to remark connected Thursday.