Steve Varley, the former head of EY in the UK and Ireland, will this week be appointed as chairman of the first law firm to list on the London Stock Exchange.
Sky News has learned that Varley, who stepped down as chairman and managing partner of the audit firm in 2020, will chair DWF, which is now majority-owned by private equity firm Inflexion.
His appointment will be announced on Tuesday, according to sources.
One said Varley’s recruitment would underline the scale of DWF’s ambition, nine months after it was divested from Inflexion.
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The former EY boss, who took up a global sustainability role at the Big Four accountants after leaving his UK role, became one of Britain’s most prominent business leaders during his nine years at the helm.
During his time leading the company, it doubled in size, closing the gap with rivals Deloitte, KPMG and PricewaterhouseCoopers.
Before joining Ernst & Young, Varley worked at Accenture and later became a member of advisory boards appointed by two prime ministers.
DWF’s decision to turn to Mr Varley underlines its determination to evolve into a broader professional services firm.
Since Sir Nigel Knowles, a prominent city lawyer, was appointed chief executive of DWF in 2020, profits before interest, tax, depreciation and amortization have more than tripled, from £16m to £55m.
The company employs more than 4,500 people worldwide and operates in 14 countries.
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Part of its growth has come through acquisitions, including the purchase of Whitelaw Twining in Canada in 2022.
Last week, DWF announced its first transaction since going private, purchasing Proclaim, an Australian claims management company.
A private equity source said Inflexion’s strategy for growing DWF would replicate its playbook across other portfolio companies through acquisitions and international expansion.
Inflexion and DWF declined to comment.
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