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Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Case Study 21: The Australian Securities Exchange (ASX) $250 Million CHESS Blunder

6. Januar 2025

The Australian Securities Exchange (ASX) embarked on an ambitious journey to replace its 25-year-old Clearing House Electronic Subregister System (CHESS) with a state-of-the-art, blockchain-based platform.  Initially envisioned as a groundbreaking project to enhance efficiency, security, and scalability, the CHESS replacement project quickly turned into a cautionary tale.  The initiative faced repeated delays and escalating costs

Case Study 20: The $4 Billion AI Failure of IBM Watson for Oncology

7. Dezember 2024

In 2011, IBM’s Watson took the world by storm when it won the television game show Jeopardy!, showcasing the power of artificial intelligence (AI). Emboldened by this success, IBM sought to extend Watson’s capabilities beyond trivia to address real-world challenges.  Healthcare, with its complex data and critical decision-making needs, became a primary focus. Among its flagship

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Alle The Professional Services Transformation Paradox Beiträge

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Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Blog

Alle The Professional Services Transformation Paradox Beiträge

Tags

Newsletter abonnieren

Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Case Study 21: The Australian Securities Exchange (ASX) $250 Million CHESS Blunder

6. Januar 2025

The Australian Securities Exchange (ASX) embarked on an ambitious journey to replace its 25-year-old Clearing House Electronic Subregister System (CHESS) with a state-of-the-art, blockchain-based platform.  Initially envisioned as a groundbreaking project to enhance efficiency, security, and scalability, the CHESS replacement project quickly turned into a cautionary tale.  The initiative faced repeated delays and escalating costs

Case Study 20: The $4 Billion AI Failure of IBM Watson for Oncology

7. Dezember 2024

In 2011, IBM’s Watson took the world by storm when it won the television game show Jeopardy!, showcasing the power of artificial intelligence (AI). Emboldened by this success, IBM sought to extend Watson’s capabilities beyond trivia to address real-world challenges.  Healthcare, with its complex data and critical decision-making needs, became a primary focus. Among its flagship

Blog

Alle The Professional Services Transformation Paradox Beiträge

Tags

Newsletter abonnieren

Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Blog

Alle The Professional Services Transformation Paradox Beiträge

Tags

Newsletter abonnieren

Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Blog

Alle The Professional Services Transformation Paradox Beiträge

Tags

Newsletter abonnieren

Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Case Study 21: The Australian Securities Exchange (ASX) $250 Million CHESS Blunder

6. Januar 2025

The Australian Securities Exchange (ASX) embarked on an ambitious journey to replace its 25-year-old Clearing House Electronic Subregister System (CHESS) with a state-of-the-art, blockchain-based platform.  Initially envisioned as a groundbreaking project to enhance efficiency, security, and scalability, the CHESS replacement project quickly turned into a cautionary tale.  The initiative faced repeated delays and escalating costs

Case Study 20: The $4 Billion AI Failure of IBM Watson for Oncology

7. Dezember 2024

In 2011, IBM’s Watson took the world by storm when it won the television game show Jeopardy!, showcasing the power of artificial intelligence (AI). Emboldened by this success, IBM sought to extend Watson’s capabilities beyond trivia to address real-world challenges.  Healthcare, with its complex data and critical decision-making needs, became a primary focus. Among its flagship

Blog

Alle The Professional Services Transformation Paradox Beiträge

Tags

Newsletter abonnieren

Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Blog

Alle The Professional Services Transformation Paradox Beiträge

Tags

Newsletter abonnieren

Case Study 26: Accenture – The Success Story That Was Never Meant to Happen

8. April 2026

In boardrooms across the professional services industry, one reference point appears with almost ritualistic regularity whenever the idea of separating audit and consulting is raised: Accenture. The story is compelling precisely because it is so clean. A consulting arm breaks away from an audit-dominated structure, frees itself from regulatory constraints, accesses capital markets, and emerges

The Professional Services Transformation Paradox #4 – Accountability vs. Alignment

1. April 2026

In large transformation programs, accountability is rarely missing. It is distributed. It sits with executive sponsors, steering committees, transformation offices, service line leaders, and partner groups, each with a defined role and a legitimate claim to involvement. On paper, this creates alignment. In practice, it often removes ownership, because when accountability is spread across too

Case Study 24: PwC’s “Monday” – How a $20bn Spin-Off Fell Apart

29. März 2026

In June 2002, inside PricewaterhouseCoopers, something unusual had already taken shape. The firm was no longer discussing whether to separate its consulting business. It had already done the structural work required to make that separation real. Registration documents filed with regulators described a fully constructed corporate entity, with defined governance, ownership structures, and a legal

The Professional Services Transformation Paradox #3 – Long-Term Investment vs. Short-Term Management

27. März 2026

One of the most underestimated constraints in professional services transformation is not technology, capability, or even funding. It is time. Real transformation takes longer than most firms are structurally able to tolerate. Core systems such as ERP platforms, data architectures, AI capabilities, or global workflow solutions are not incremental improvements. They are foundational changes. They

The Professional Services Transformation Paradox #2 – Internal vs. Client Execution

26. März 2026

One of the most persistent, and least openly discussed, tensions in professional services firms lies in how they execute their own transformations. It is a tension that does not reveal itself in strategy decks or partner presentations, but in the day-to-day reality of large internal programs that quietly struggle to deliver. At first glance, the

Case Study 23: The Fragmentation of a Global Firm – How Private Equity Is Reshaping Grant Thornton

23. März 2026

For most of its history, Grant Thornton operated through the standard global professional-services model: a network of legally separate member firms sharing a brand, methodologies, and network infrastructure, but not functioning as a single worldwide partnership. Grant Thornton International itself states that its member firms are separate legal entities, that GTIL and the member firms

The Professional Services Transformation Paradox #1 – Technology Alliances vs. Internal Fit

20. März 2026

This article is part of a series exploring the tensions at the core of the Professional Services Transformation Paradox. The paradox itself is straightforward, yet deeply consequential. Firms that excel at transforming their clients often struggle to transform themselves. Not because they lack capability, but because their own structures, incentives, and operating models create resistance

Case Study 22: The $600 Million Failed EY Split (“Project Everest”)

19. März 2026

In 2022 and 2023, Ernst & Young pursued the most ambitious restructuring attempt in modern Big Four history: a plan, code-named Project Everest, to separate most of its consulting business from its audit and assurance business. The logic was straightforward. Audit independence rules constrained cross-selling and limited growth in advisory. A split promised to unlock

Case Study 21: The Australian Securities Exchange (ASX) $250 Million CHESS Blunder

6. Januar 2025

The Australian Securities Exchange (ASX) embarked on an ambitious journey to replace its 25-year-old Clearing House Electronic Subregister System (CHESS) with a state-of-the-art, blockchain-based platform.  Initially envisioned as a groundbreaking project to enhance efficiency, security, and scalability, the CHESS replacement project quickly turned into a cautionary tale.  The initiative faced repeated delays and escalating costs

Case Study 20: The $4 Billion AI Failure of IBM Watson for Oncology

7. Dezember 2024

In 2011, IBM’s Watson took the world by storm when it won the television game show Jeopardy!, showcasing the power of artificial intelligence (AI). Emboldened by this success, IBM sought to extend Watson’s capabilities beyond trivia to address real-world challenges.  Healthcare, with its complex data and critical decision-making needs, became a primary focus. Among its flagship