Deloittes snaps up Andersen Canada
The race to snap up the national practices of shattered firm Andersen continued today, after Deloitte & Touche signed an agreement to merge with its rival's Canadian business.
However, Deloittes partners have yet to vote on the deal and it will only complete once the necessary due diligence and regulatory approval are given.
If it goes ahead, Andersen partners and staff will follow Deloittes’ policies and procedures as well as all its global systems and protocols, while the firm will change its brand to Deloittes.
Deloitte chief executive and managing partner Colin Taylor would remain chief executive. A number of Andersen partners will join the Deloittes board and management team.
‘This is a very exciting transaction for Deloitte and our people. Both firms have outstanding professionals and the transaction will offer even greater development opportunities for all of our people,’ said Taylor.
‘Our Canadian clients have shown great loyalty to us. As part of Deloitte & Touche, we can provide them with additional confidence that they can be served by world-class professionals with a global network to match,’ added Andersen Canada’s CEO and managing partner Russel Robertson.
It is not yet clear what role Robertson will have in the merged firm.