Deloitte Consulting to go private
Deloitte Consulting has announced it will become a private company when it separates from Deloitte Touche Tohmatsu, rejecting the option of a flotation or merger.
Deloitte Consulting has announced it will become a private company when it separates from Deloitte Touche Tohmatsu, rejecting the option of a flotation or merger.
The announcement, made at a partners’ meeting in San Francisco, came after the firm’s board voted unanimously to become an independent, privately-held company, ending its relationship with the Big Five accountancy firm.
David Owen, UK managing director of Deloitte Consulting said: ‘We took a hard look at our industry and believe that independence and private ownership will enable us to stay true to our core values.’
DTT announced in February this year its intention to hive off the consultancy practice, admitting market pressure had forced the seperation.
James Copeland, chief executive officer of DTT, said: ‘We have maintained that we cannot put our clients in the position of having to choose between working with the world’s best auditing professionals and our world-class colleagues from Deloitte Consulting.’
All the partners of the firm will be asked to participate in what will effectively be a management buy-out while funding for the new company is currently being negotiated.
The numbers you crunch tell a story. Your expertis...
22yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article