Morse Consulting transaction

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Morse Consulting transaction to further boost Deloitte’s investment and wealth management practice

30 August 2016: Following its June acquisition of Casey Quirk across a number of territories, the world’s largest asset management strategy consultancy, Deloitte announced today that Morse Consulting will join its Australian firm from 1 September.

Deloitte CEO Cindy Hook said: “This is such an exciting time for investment and wealth management in Australia as the potentially $4 trillion sector becomes more complex, more global, and organisations are more in need of specialised expertise to navigate and succeed in the market.

“Morse Consulting has gained a market-leading reputation for its skills and services in this growth sector.

“So with Australia being one of the largest asset management markets in the world, the Morse Consulting transaction, combined with our own expertise and the global strength of Casey Quirk by Deloitte, cements our market leading position in advisory services to the investment and wealth management sector in the Australian and global asset management markets.”

Neil Brown, Deloitte Australia national investment and wealth management leader said: “Our combined Deloitte business is now able to provide end-to-end capability, from strategy formulation, operating model design, implementation services, risk management and governance.”

Established in 2005, Morse Consulting brings innovative and deep domain investment and wealth sector advisor across areas such as operating model design, service provider selection, set up and operational due diligence, and investment risk management and governance.

According to Brown: “The wealth sector will continue to be a driver of economic growth for Australia, as highlighted in the Deloitte Building the Lucky Country series research: Positioning for Prosperity, which predicts Australia’s current assets pool of just over $2 trillion, will double by 2025, and reach $9.5 trillion by 2035, exceeding the size of the banking industry.

“This growth presents a real opportunity for Australia. But the complexity of digital disruption and regulatory change will increasingly challenge the operators.

“Together with our enhanced services combined with Deloitte’s existing strengths in digital, governance and risk, we are able to offer our clients the best end-to-end advisory services across the whole asset management value chain.”

Philip Hope, joint founder of Morse Consulting, and soon-to-be Deloitte Assurance & Advisory partner said: “As our clients become bigger and more complex, their needs are expanding. To meet this market shift we’ve been considering how we can best scale and broaden the services we offer without compromising on quality.

“For us Deloitte offers a strong alignment and approach when it comes to specialist skills and a client-centric culture. It was an obvious choice in terms of true global reach and insights, broader capability and a wider range of deep expertise that will deliver greater value as our clients position for growth, manage risk and look to reduce costs.”

The Morse Consulting team will join Deloitte’s Investment and Wealth Advisory team in Sydney and Melbourne effective 1 September 2016. The terms of the transaction have not been disclosed.

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