Record number of partner promotions for PwC

Record number of partner promotions for PwC

PwC has promoted 61 equity partners this year, with three-in-ten of them female

BIG FOUR firm PwC has promoted a record number of partners for the third year in a row, as its UK arm looks to increase diversity and female employees at partner level.

The professional service firm has promoted 61 equity partners, the third successive year the firm has increased its new partner numbers.

Diverse range of backgrounds

Aged between 32 and 51, PwC claims that the new partners “represent a diverse range of backgrounds, skills and experience” with more women, flexible workers and people based in regions outside of London (45% of new partner group) promoted into senior positions.

Nearly three-in-ten (28%) of the new partners are female, up from 23% last year, while 40% of the newly promoted directors are female, up from 30% last year. This follows repeated calls from outgoing chairman Ian Powell to increase gender diversity within the firm. The outgoing chairman is a keen advocate of increasing the number of female partners at the firm.

PwC now has 174 female equity partners, more than any other professional services firm.

As well as promoting partners from within the firm, PwC has recruited 27 partners from outside its employee pool over the past 12 months, nine more than the previous year.

PwC has made a number of changes to its staff in recent weeks, having promoted Andrew Kail to leader of its UK financial services practice, while incoming chairman Kevin Ellis unveiled a shake up to PwC’s UK executive board.

‘Vital to our future success’

Commenting on the statistics, Ian Powell, outgoing chairman and senior partner at PwC said: “For a third successive year we have increased the number of new partners and have continued to improve the diversity of our senior people. These promotions reflect the importance we place on diversity, the role of the regions to the UK’s economic success and our commitment to investing in our people across all our client services.”

Kevin Ellis, incoming chairman and senior partner, is looking to capitalise on Powell’s work to develop “a diverse and inclusive partnership”, as he explained that building on recent progress “will be vital to our future success”.

As well as making promotions at partner-level, PwC is also committed to nurturing young talent within the professional services sector.

The Big Four firm says it will take on more than “1,500 graduates and around 170 school leavers” in 2016, by adopting new approaches to its recruitment, as its set to become the first major employer to remove UCAS points as a graduate entry criteria, as well as offer the first Higher Apprenticeship in professional services. Since 2012, the firm has hired over 500 higher apprentices.

PwC recently faced a setback in its bid to present itself as a diverse and modern place to work, after a receptionist was sent home for failing to wear heels.

Whitepaper

The Future of Finance is in the CFO's Hands

Business The Future of Finance is in the CFO's Hands

3m
Save a Week a Month Consolidating Accounts

Accounting Software Save a Week a Month Consolidating Accounts

4m
Mitigating Risk Through Internal Control

Legal Mitigating Risk Through Internal Control

4m
Could tax season have run more efficiently?

Corporate Tax Could tax season have run more efficiently?

5m

Related Articles

PwC accountant caught with 1700 upskirting images on phone

Accounting Firms PwC accountant caught with 1700 upskirting images on phone

2d Chris Jewers
FRC audit inspection finds no improvement on last year

Accounting Firms FRC audit inspection finds no improvement on last year

1w Chris Jewers
Being good at maths is no longer good enough. A growth mindset is what you’ll need.

Accounting Firms Being good at maths is no longer good enough. A growth mindset is what you’ll need.

2m James Poyser
PwC forges maritime supply chain link with Pole Star

Accounting Firms PwC forges maritime supply chain link with Pole Star

9m Chris Warmoll, Writer
PwC to net £50m from Carillion insolvency

Accounting Firms PwC to net £50m from Carillion insolvency

1y Alia Shoaib, Reporter
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1y Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

1y Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

1y Fergus Payne, Lewis Silkin