New UK corporate finance head for PWC

Consumer sector specialist Neil Sutton is replacing Graeme Pike as head of the financial services group’s UK deal advisory effort.

Neil Sutton, a partner at PricewaterhouseCoopers (PWC) since 1993, is to take over the reins as head of the firm’s UK corporate finance practice on July 1.

Sutton takes over the role from Graeme Pike, who held the position for five years and is now focusing on global corporate finance at PWC.    

Sutton previously headed the firm’s consumer sector team, which advised on deals worth £1.7 billion (€2.5 billion; $3.1 billion) in 2005. “The corporate finance team is really on a roll and I look forward to developing our business in the coming months,” he said in a statement.  
 
In March 2004, Sutton was part of a PWC team that advised on the £135 million sale of Deb Group – owner of the Swarfega skincare brand – to UK private equity firm Barclays Private Equity.

Last week, PWC advised Bank of Scotland Integrated Finance on the £350 million purchase of Vue Entertainment, the cinemas group, from a private equity consortium comprising Boston Ventures, Clarity Partners and Legal & General Ventures.

According to its own figures, PWC last year advised on over 350 M&A deals globally, valued at over $45 billion. According to Thomson Financial, it was the most prolific adviser on UK deals worth between $50 million and $500 million during the 12 months.