Financial advisory firm Deloitte has taken a leaf out of the banking sector's books by setting up its own dedicated team to manage its relationships with private equity firms. Richard Parsons from investment banking boutique Hawkpoint will head up the team in the newly created role of private equity coverage director.

Parsons, who previously managed Hawkpoint's private equity relationships, will have a staff of five by the end of the year and will be responsible for developing Deloitte's relationships with private equity firms in the UK.