STRONG PERFORMANCE from developing markets and robust growth in established territoties saw global revenues climb 8% to a record $31.5bn (£19.5bn) at PwC.
Revenues from developing markets now account for 20% of PwC’s aggregate global revenues, and are expected to reach 40% by 2017.
While revenues from developed markets were up – US revenues were up by 15%, and UK revenues up by 6% – sales in China increased by 14%, in India by 16%, in Russia by 13%, and in Brazil by 14%.
“We are in the midst of a global economic rebalancing. Economic growth in the developing markets will continue to outpace expansion in the more established economies,” said Dennis Nally, PwC International chairman.
“That shift heightens the ongoing need to attract talented, skilled people and make sure they are located where our clients require them.”
Despite eurozone concerns, the firm’s members saw Western Europe grow 4% and Eastern Europe grow 8%.
Its workforce grew by 7% in 2012, taking the total number of people to more than 180,000 for the first time.
Advisory services grew 17% to $8.7bn, as clients called for help in transforming their businesses.
Neil Finlayson will head up top 20 Kingston Smith's NFP operation, having joined the firm in 2001
Paul Eagland speaks to Accountancy Age ahead of taking the reins as BDO managing partner in October
This is the latest office to open in Wilkins Kennedy’s south region, which now covers the whole of Kent
Carl Reader looks at how the changing nature of business is impacting independent practices