PracticeAccounting FirmsDeloitte invests additional €200m to create North West Europe firm

Deloitte invests additional €200m to create North West Europe firm

The ‘Big Four’ firm, Deloitte has announced that the North West Europe firms will combine to create Deloitte North West Europe.

DELOITTE’S north-west Europe firms will combine to create Deloitte North West Europe. The combined firm will generate an estimate of over €5bn (£4.4bn) of revenue with 28,000 partners and staff.

David Sproul, Deloitte’s UK chief executive and chief executive-elect of Deloitte North West Europe, said: “This is a bold move which reflects our growth ambitions.  Europe is already the fastest growing region for Deloitte and we believe that by combining across these markets we will further increase the growth potential of Deloitte regionally and globally.”

The Belgian, Danish, Dutch, Finnish, Icelandic, Norwegian and Swedish member firms will combine with the UK and Swiss firms and become Deloitte North West Europe, which will come into effect on 1 June 2017.

Sproul added: “Deloitte North West Europe will combine the breadth and depth of capabilities of eight market leading member firms.  The investments we are making will allow us to be more globally connected than ever before, and focus on quality.”

Deloitte North West Europe will account for approximately 20% of all revenue within Deloitte’s global network. Globally, Deloitte has more than 244,400 professionals in its member firms delivering services in audit, tax, consulting, financial advisory, risk management, and related services in more than 150 countries and territories. Revenues for fiscal year 2016 were US$36.8bn (£32.4bn).

Punit Renjen, Deloitte global CEO, said: “Our strategy is to deliver services to clients as one seamless global organisation.  Our increased scale will enable us to accelerate investments in the types of innovations that transform and advance our clients’ business.”

The move will see Deloitte invest an additional €200m over the next three years in its capabilities across the region to enhance its service to its market clients. The investment will focus on clients, talent and building capability.

 

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