Partners at PWMC, part of PricewaterhouseCoopers, decided to convert their ownership interests following a vote last week. The combined fee income of Andersen’s French consultancy will now be in the region of Euro 150m (Pounds 92.8m) from 900 consultants.
‘We are delighted to welcome our new French partners and colleagues to Andersen,’ said Joe Berardino, Andersen managing partner and chief executive officer. ‘Their decision to join us comes at a time when we are aggressively investing in building our firm.’
The integrated teams will be part of Andersen’s Business Consulting practice, which has global fees in excess of Pounds 1bn.
PWMC managing partner Yves Jarlaud, said: ‘Our partners are eager to participate in Andersen’s integrated international network. This was a deliberate choice reflecting our strong belief that this is a winning combination for our clients and our people.’
But PricewaterhouseCoopers said PWMC represented a only small part of its consulting business in France. In a statement, the Big Five firm said the majority of its French consulting practice remained aligned with PwC.
‘PwC has a large and vital consulting practice in France that will continue to provide a world-class service,’ the firm said. ‘PwC will take all steps to protect the interests of its clients and people.’
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