WTS, a German tax and complementary financial advisory services provider, has established its UK arm to support growth.

Former EY executive Jeff Soar will serve as CEO of the newly formed WTS UK.

Soar specialises in building practices and advising boards, executives and investors across global tax, insurance and legal markets.

Soar worked at EY for more than two decades, most recently as managing partner of the Tax and Law division for the UK and Ireland.

WTS noted that the new business entity is configured to offer practical, senior-level guidance through a model tailored “around the evolving needs of clients”. It will primarily target listed as well as large private businesses.

At launch, WTS UK will have a double-digit partner base.

The company expects to grow to around 100 partners within the next five years, according to its statement.

Soar said: “The business world is moving faster than ever, and it is crucial that advisers keep pace.

“Having spent over 20 years in the industry, I have seen what works and where change is really needed. Business leaders want clear, actionable advice that gets straight to the point and delivers better value.

“At WTS UK, we are taking a completely fresh approach to tax advisory that is purpose-built for today.”

Based in Munich, WTS is a major tax advisory practice in Germany, reporting yearly revenues exceeding €250m ($296m). It operates 11 offices across Germany and, through its WTS Global network, has a presence in more than 100 countries worldwide.

WTS chairman Fritz Esterer said: “Following our expansion in Poland in January this year, launching WTS UK represents another important step forward for WTS.”