PricewaterhouseCoopers has bolstered its financial services tax business ahead of US legislation that will force all foreign financial firms to hand over details of their American clients amid a clamp down on tax evasion that could cost the industry “tens of millions of pounds”.

The consultancy firm has hired Robert Bridson as a partner effective yesterday to develop its financial services tax consulting business. Bridson most recently worked at Deloitte where he was part of a team advising financial institutions on compliance with the Foreign Account Tax Compliance Act or Fatca, which is due to come into effect in January 2013.