Deloitte earmarks an additional US$321m investment in the Asia Pacific market to benefit its clients and people
BANDAR SERI BEGAWAN, 13 July 2018 — Deloitte has announced that its geographies in Australia, China, Japan, New Zealand and Southeast Asia are coming together to create Deloitte Asia Pacific. This move will allow for greater investment and focus on Deloitte clients in the region.
Together, the five geographies are expected to generate a combined investment of US$321m over the next three years. The investment will enhance Deloitte's ability to serve global, national and private market clients by enhancing service capabilities and increasing talent resources. The new structure will come into effect on 1 September 2018, and the five geographies collectively will have almost 44,500 professionals, with the potential to create a US$10b business by 2022.
Announcing Deloitte Asia Pacific, Cindy Hook, Deloitte Asia Pacific Chief Executive Officer, said, "This is an exciting move for Deloitte in the Asia Pacific region – the fastest growing region in the Deloitte network. With the formation of Deloitte Asia Pacific we have an opportunity to increase our scale in this market, while enhancing our capabilities to serve clients. The investments we are making will allow us to better serve the needs of clients who are operating in a more globally connected way than ever before, and continue our relentless focus on quality."
"The increased investment will also support our growing teams of professionals, equipping them with the resources to deliver first-class service to clients, while also providing immense career development opportunities to help us to attract, develop and retain the very best talent the region has to offer. Our aspiration over the next few years is for Deloitte Asia Pacific to become the undisputed leader in professional services in the region."
Punit Renjen, Deloitte Global CEO, added, "The creation of Deloitte Asia Pacific lays an important foundation as we place a high strategic focus on this region. Importantly, this increased scale in Asia will enable Deloitte to take full advantage of our strengths while offering differentiated services, accelerate capabilities in innovation and quality, and serve clients and the public interest with distinction."
Globally, Deloitte has more than 264,000 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 the fiscal year 2017 were US$38.8b.
Commenting on the impact of Deloitte Asia Pacific to the Southeast Asia market, Philip Yuen, Chief Executive Officer, Deloitte Southeast Asia added: “We celebrate a new milestone today as Southeast Asia and four other geographies come together as Deloitte Asia Pacific. Being the third most populous market in the world after China and India and with a rising middle class, Southeast Asia as a region is well-acknowledged globally as a growth market where opportunities abound both for global businesses looking to enter this market, and for local businesses wanting to grow regionally. We believe that this move will strengthen our ability to provide seamless service to our clients, and enable us to leverage on our collective capabilities and expanded scale to help clients make bold plays in the regional and global marketplace. We are also excited to combine our talent and experience with our colleagues around Asia, and work together to seize the opportunities ahead to remain the market leader in professional services.”
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About Deloitte Southeast Asia
Deloitte Southeast Asia Ltd – a member firm of Deloitte Touche Tohmatsu Limited comprising Deloitte practices operating in Brunei, Cambodia, Guam, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam – was established to deliver measurable value to the particular demands of increasingly intra-regional and fast growing companies and enterprises.
Comprising 340 partners and over 8,800 professionals in 25 office locations, the subsidiaries and affiliates of Deloitte Southeast Asia Ltd combine their technical expertise and deep industry knowledge to deliver consistent high quality services to companies in the region.
All services are provided through the individual country practices, their subsidiaries and affiliates which are separate and independent legal entities.
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