Big 4 topples record for partner intake in 2017

 

One big four firm has now officially locked in 91 partner admissions for 2017, up from last year’s record intake of 72, with the bulk of those appointments in the financial advisory division.

A PwC Australia spokesperson told Accountants Daily its partner admissions for the 12 months to July this year bring its total partners to 620.

The financial advisory business unit accounted for 41 of the new admissions, including 9 in the deals team, 11 in legal, 7 in private clients and 14 in tax.

"The growth in partner numbers across our financial advisory business represents the underlying client demand for tax and legal services and deals support,"  Helen Fazzino, managing partner people, partnership and culture told Accountants Daily.

The consulting business unit, which includes the tech, data and digital team, had 29 new admissions. This follows on from last year’s strong investment in digital services, with nearly half of the admissions in the consulting practice in 2016 and 2017 coming from cyber, digital, analytics or tech consulting backgrounds.  

The tech and digital growth is indicative of a strong  and continued “market appetite for these offerings," Ms Fazzino said.

Assurance also had 13 appointments, which Ms Fazzino said was one of the more pleasing outcomes.

Finally, clients strategy and alignment had 8 admissions.

Of this latest intake, 40 per cent of partner admissions are female, in line with PwC’s gender diversity targets.

In June 2015, the firm announced a gender target of 40 per cent women and 40 per cent men making up future admissions. The remaining 20 per cent can be either men or women.

For 2017, PwC said 22 per cent of partner admissions are from a “diverse cultural background,” exceeding the target of 20 per cent set in 2015.

"We are delighted to welcome these 91 individuals to our partnership - all bring a passion for solving the most important problems faced by business and Australia more broadly," Ms Fazzino said.

"This year's partner admissions reflect both what clients need today and what they'll need from us in the future," she added.

 

 

 

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