People & Business

JON MOYNIHAN, who resigned as chairman and chief executive of PA Consulting last August, has just un-resigned.

In fact, despite headhunters being appointed to find his successor, Mr Moynihan never left office.

Let me explain. Mr Moynihan was at logger heads with the Butten Trust, set up by PA's founder Ernest Butten, over the share of profits allocated to former employees of PA. Mr Moynihan felt current employees weren't getting a big enough slice of the action.

Or, as Mr Moynihan put it yesterday, speaking from New York: "The matter over which I resigned got resolved just before Christmas in a way which I wanted it to be resolved."

Before the settlement, the Trust owned about 70 per cent of the "on-going value" of PA. Following the settlement, the Trust now owns some preference shares, which will provide income, and a "golden share" which will come into play if PA is ever sold. Apart from that, the current employees now call the tune.

"Following this discussion with the board (of the Trust), we decided I should stay," adds Mr Moynihan.

Even the headhunter's fee has not gone to waste. The person who came top of the list as Mr Moynihan's successor has metamorphosed into the next chief executive of PA. Mr Moynihan will stay on as executive chairman, but believes the fast-growing firm needs a chief executive as well. Expect an announcement soon.

WORKS by Picasso, Warhol and many other artists will be on display at law firm Collyer-Bristow's gallery in Holborn, London, and every single one will be a fake.

The exhibition, imaginatively titled "Fake", kicks off appropriately enough on 1 April, and is designed to raise awareness of the threat posed by counterfeiters the world over to British business.

The exhibition is the brainchild of Christopher Rennie- Smith, intellectual property partner at Collyer Bristow. It will feature fakes of branded goods such as Nike shoes, Chanel No 5, Johnny Walker whisky and Pepsi.

The law firm is part of the Anti-Counterfeiting Group, which lobbies government on behalf of companies which own threatened brands or intellectual property.

Collyer-Bristow originally started holding exhibitions at their offices because they represented so many artistic clients. Now they have formalised the process, and even have a part-time curator, Tamar Arnon, who puts together a new show every six to eight weeks.

ARTHUR ANDERSEN may be making a hash of things in its relationship with its Andersen Consulting colleagues, but the firm can still hire good people.

Andersen has just taken on Carol Arrowsmith, a big noise in the world of employee share schemes and the like, as a partner in the firm's broadly based Human Capital Services team.

Ms Arrowsmith joined New Bridge Street Consultants, an advisory firm linked to lawyers Clifford Chance, as a director in 1986, and took over as managing director in 1990. She is also a director of ProShare, the organisation promoting share-based investment.

She will be working with Brian Friedman, world-wide head of Andersen's Human Capital Services practice, and himself a recent hire from Stoy Hayward, the accountancy firm.

Mr Friedman welcomed Ms Arrowsmith to the practice, saying: "We are already a multi-disciplinary group with lawyers, actuaries, compensation and benefits specialists, taxation and change management experts offering a wide range of professional advice...."

Great. Not a boring old accountant in sight....

UBS continues to shed staff like a tree shedding apples in an autumn gale. Among those not going to merge with SBC Warburg are Patrick Kirby and Sue Cox, a media and a smaller companies analyst respectively, who have joined ABN Amro. And UBS's former head of European Equity research since 1994, Mark Howdle, has joined Salomon Smith Barney as director of Pan-European Strategy.

Not surprising, really, when you consider that SBC has taken 67 out of the 85 top jobs in merged equities division of UBS and Warburg Dillion Read.

Another shotgun merger, that between CSFB and BZW, has provided ABN Amro with another recruit, Garbiella Sexton, who joins the Dutch investment bank as European Equity Editor.

In fact, apart from ING, which seems to be reconsidering its investment in Barings, the Dutch are providing the best refuge for newly down-shifted bankers at the moment. Rabobank is reportedly seeking to recruit 700 capital markets people.

There again, First Chicago NBD have also taken someone on this week, in the form of Dr Giorgio Radaelli from Lehman Brothers. Dr Radaelli will bring a decade of experience as a market economist to First Chicago in London.

Start your day with The Independent, sign up for daily news emails
Life and Style
A monstrous idea? Body transplants might no longer be science fiction
Science An Italian neurosurgeon believes so - and it's not quite as implausible as it sounds, says Steve Connor
Sport
Demba Ba (right) celebrates after Besiktas win on penalties
footballThere was no happy return to the Ataturk Stadium, where the Reds famously won Champions League
Arts and Entertainment
Natural beauty: Aidan Turner stars in the new series of Poldark
arts + ents
News
Mia Freedman, editorial director of the Mamamia website, reads out a tweet she was sent.
arts + ents
News
people
Arts and Entertainment
The write stuff: masters of story-telling James Joyce, left, and Thomas Hardy
arts + ents...begging to differ, John Walsh can't even begin to number the ways
News
Image from a flyer at the CPAC event where Nigel Farage will be speaking
news
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Telesales / Marketing Executive - B2B - OTE £25,000

£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...

SThree: Trainee Recruitment Consultant

£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...

Recruitment Genius: Business Control Manager

£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...

Day In a Page

HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?
How we must adjust our lifestyles to nature: Welcome to the 'Anthropocene', the human epoch

Time to play God

Welcome to the 'Anthropocene', the human epoch where we may need to redefine nature itself
MacGyver returns, but with a difference: Handyman hero of classic 1980s TV series to be recast as a woman

MacGyver returns, but with a difference

Handyman hero of classic 1980s TV series to be recast as a woman
Tunnel renaissance: Why cities are hiding roads down in the ground

Tunnel renaissance

Why cities are hiding roads underground
'Backstreet Boys - Show 'Em What You're Made Of': An affectionate look at five middle-aged men

Boys to men

The Backstreet Boys might be middle-aged, married and have dodgy knees, but a heartfelt documentary reveals they’re not going gently into pop’s good night
Crufts 2015: Should foreign dogs be allowed to compete?

Crufts 2015

Should foreign dogs be allowed to compete?
10 best projectors

How to make your home cinema more cinematic: 10 best projectors

Want to recreate the big-screen experience in your sitting room? IndyBest sizes up gadgets to form your film-watching
Manchester City 1 Barcelona 2 player ratings: Luis Suarez? Lionel Messi? Joe Hart? Who was the star man?

Manchester City vs Barcelona player ratings

Luis Suarez? Lionel Messi? Joe Hart? Who was the star man at the Etihad?
Arsenal vs Monaco: Monaco - the making of Gunners' manager Arsene Wenger

Monaco: the making of Wenger

Jack Pitt-Brooke speaks to former players and learns the Frenchman’s man-management has always been one of his best skills
Cricket World Cup 2015: Chris Gayle - the West Indies' enigma lives up to his reputation

Chris Gayle: The West Indies' enigma

Some said the game's eternal rebel was washed up. As ever, he proved he writes the scripts by producing a blistering World Cup innings
In Ukraine a dark world of hybrid warfare and murky loyalties prevails

In Ukraine a dark world of hybrid warfare

This war in the shadows has been going on since the fall of Mr Yanukovych
'Birdman' and 'Bullets Over Broadway': Homage or plagiarism?

Homage or plagiarism?

'Birdman' shares much DNA with Woody Allen's 'Bullets Over Broadway'
Broadchurch ends as damp squib not even David Tennant can revive

A damp squib not even David Tennant can revive

Broadchurch, Series 2 finale, review
A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower: inside the mansion of Germany's 'Bishop of Bling'

Inside the mansion of Germany's 'Bishop of Bling'

A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower