Deloitte North West Europe has been saved
Deloitte North West Europe
Deloitte targets accelerated growth with additional €200m investment in the creation of North West Europe firm
Investment will focus on clients, talent and building capability. Combined firm will generate €5bn of revenue with 28,000 partners and staff.
Diegem, Belgium – October 4, 2016 Deloitte today announces that its Belgian, Danish, Dutch, Finnish, Icelandic, Norwegian, Swedish, Swiss and UK member firms will combine to create Deloitte North West Europe. The move will see Deloitte invest an additional €200m over the next three years in its capabilities across the region – investments to enhance seamless, borderless service to clients, to boost innovation and to create the best development opportunities for its people. Local markets and project delivery will remain a key pillar of success, with each geographical leadership committed to serving, and investing in, its local market. Deloitte North West Europe will come into effect on 1 June 2017 and will have 28,000 partners and people, generating over €5bn in annual revenue.
Piet Vandendriessche, CEO of Deloitte Belgium, is proud to announce this merger, “This close pan-European collaboration is key for Deloitte Belgium to continue its growth. We are already recognised as a leading firm in the Deloitte network, with strong capabilities in our local market plus several centres of excellence. As leaders, we want to be at the forefront of positive change, driving towards continued success for the long term.”
Vandendriessche also points towards the advantages for skilled Belgian employees. “This is an excellent opportunity for Belgian talent to move onto the global stage. International mobility is an accelerating trend, which Deloitte North West is facilitating. The single North West Europe firm will further advance seamless access to international experts in a myriad of domains and industries, in turn boosting our innovative service offerings to our clients. At the same time, we keep intact much of our existing ways of working – it will not be a ‘big bang’ change for our Belgian people and operations.” Deloitte North West Europe also contributes to existing Deloitte projects and goals. “At Deloitte, we value cultural diversity, which will be enhanced by this project. Moreover, Deloitte North West Europe will assist us in achieving our ambition to reach 4000 employees in Belgium by 2020”, Vandendriessche adds.
David Sproul, Deloitte’s UK chief executive and chief executive-elect of Deloitte North West Europe, said: “This is a bold move which reflects our growth ambitions. Europe is already the fastest growing region for Deloitte and we believe that by combining across these markets we will further increase the growth potential of Deloitte regionally and globally, as well as our ability to influence positively the growth of our clients.
“Deloitte North West Europe will combine the breadth and depth of capabilities of market leading member firms. The investments we are making will allow us to better serve the needs of our clients who are operating in a more globally connected way than ever before, and continue our relentless focus on quality. It will also allow us to offer career development opportunities for our people, helping us to attract, develop and retain the very best talent across the region.”
Punit Renjen, Deloitte Global CEO, said: “Our strategy is to deliver services to clients as one seamless global organisation. In addition to expanding our capabilities, expertise and insights, our increased scale will enable us to accelerate investments in the types of innovations that transform and advance our clients’ business.”
Deloitte North West Europe will account for approximately 20% of all revenue within Deloitte’s global network.
Globally Deloitte has more than 244,400 professionals at member firms delivering services in audit, tax, consulting, financial advisory, risk management, and related services in more than 150 countries and territories. Revenues for fiscal year 2016 were US$36.8 billion.