Deloitte Switzerland records another year of strong growth
Zurich, 29 August 2017
The professional services firm launches its Annual Review for 2017
In a market characterized by economic uncertainty, regulatory change and digital transformation, Deloitte’s ability to solve complex problems for clients has led to growth in each of its five core businesses. This Swiss practice has increased net revenue by 13%, to CHF 438 million, in the fiscal year ended 31 May 2017. The firm’s decade-long double-digit growth trajectory continues to be driven by the impressive performance of its Advisory services, supported by a strengthening position in both Audit & Assurance and Tax & Legal. Deloitte continues to invest energetically in the next generation, having launched a number of new solutions, established various landmark market alliances and created over 130 new jobs in Switzerland.
Simon Owen, CEO of Deloitte Switzerland, said, “We are relentless in how we help our clients succeed in a global business environment marked by volatility and digital disruption. Our clients are operating in a more digitally and globally connected way than ever before, and are increasingly turning to Deloitte not only for strategic advice, but also for pragmatic solutions to tackle their complex challenges.”
Deloitte’s expertise in helping clients analyse a challenge and then take appropriate action is the reason why the firm is asked to advise many highly-regarded Swiss organisations. In FY17, Deloitte Switzerland acted for 95% of the companies in the SMI Index and has further developed its business, its people, and the impact the firm has on its clients and the society through:
- Evolving and adapting our services and capabilities to meet the changing business environment, taking full advantage of Deloitte’s global partnerships with Apple, Amazon Web Services, Salesforce, Cisco, SAP, McLaren, and, most recently, HP
- Helping major organisations in life sciences and financial services transform their business as well as reduce their costs with robotics and intelligent automation (see our client stories for some highlights)
- Leveraging big data and analytics to help consumer and industrial products organisations address the global management of customs duties
- Deploying exponential technologies to deliver the audit of the future and intelligent software to further enhance our forensic capabilities
- Embedding innovation at the heart of our organisation – showcased through the recent creation of the Deloitte Garage, dedicated to designing and building new business models and solutions
- Working closely with regulators and legislators to ensure we take a leading role in the development of future governance frameworks and requirements
Financial results: 13% y-o-y growth
“I have long been an advocate of the notion that, if we do the right thing in term of serving our clients and investing in our people, the financials will look after themselves. To that end, it is pleasing to report another very successful financial year, with Deloitte Switzerland achieving yet another year of double digit revenue growth as well as profit growth,” Simon Owen added.
In the 2017 fiscal year ended 31 May 2017, Deloitte Switzerland has increased its net revenue1 from CHF 388 million to CHF 438 million, marking the continuation of Deloitte’s exceptional growth path in Switzerland. All business areas – Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal – contributed to the 13% year-on-year growth.
The firm’s market-leading Advisory business continued on its growth path, driven by high demand for digital technology, cyber and M&A services. The more traditional businesses have also strengthened their position: Growth in Tax & Legal was driven by the global tax reset and the Audit & Assurance team has had significant success, including the recent major audit wins of LafargeHolcim and Panalpina.
Significant investments in talent
Deloitte has increased its talent pool in Switzerland by 8% to 1,823 people, creating more than 130 new jobs throughout the firm’s functions and offices in the last year. This included welcoming almost 300 graduates and interns. Women represent 27% of the Deloitte’s Executive team and 35% of the workforce, and the firm’s people stem from 55 countries.
Deloitte aims to be a great place to work and develop, and continues to energetically invest in its people. Creating a culture of constant growth and opportunity remains a top priority. In FY17, Deloitte invested CHF 4.9 million in tailored learning and development activities for its people.
“We are able to solve our clients’ most complex challenges only by hiring and retaining the best talent in the market. Creating an exceptional experience for our people is crucial to the success of our business. We continue to take measures to further enhance our talent programme, to accommodate our people’s preferences for how they would like to work and the development opportunities they seek. In the last twelve months, we have extensively enhanced our approach to performance and development. One of our highlights is our revamped working parents policy – including 26 weeks maternity leave, a high degree of flexibility for working parents and coaching programmes –, which is unrivalled in the Swiss professional services industry,” said Simon Owen.
Deloitte North West Europe
On 1 June 2017, Deloitte Switzerland joined colleagues in Belgium, Denmark, the Netherlands, Finland, Iceland, Norway, Sweden and the UK in the creation of a Deloitte North West Europe firm.
Simon Owen commented, “The combined breadth and depth of capabilities of these market-leading practices allows us to serve better the needs of our clients who operate in an ever-increasing globally connected way, and to continue our relentless focus on quality. It will also allow us to offer even better career development opportunities for our people, helping us to attract, develop and retain the very best talent.”
Looking ahead, Simon Owen concluded, “I remain excited about the opportunities the future holds for Deloitte. We will continue our commitment to support our clients in new markets and new ways. The investments we are making now in our people and our services will enable us to be even better connected as we approach 2020 and the years beyond. This is a fantastic time to be at Deloitte and we are relentless in our commitment to continue making an impact that matters to our clients, our people and our society.”
1Net revenue is total revenue excluding services rendered by partners and employees of other Deloitte practices abroad and expenses. This figure reflects the Deloitte Switzerland’s revenues generated by Swiss-based staff.
Deloitte is a leading accounting and consulting company in Switzerland and provides industry-specific services in the areas of Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal. With more than 1,800 employees at six locations in Basel, Berne, Geneva, Lausanne, Lugano and Zurich (headquarters), Deloitte serves companies and organisations of all legal forms and sizes in all industry sectors.
Deloitte Switzerland is an affiliate of Deloitte Northwest Europe, a member firm of the global network of Deloitte Touche Tohmatsu Limited (DTTL) comprising of around 245,000 employees in more than 150 countries.
Note to editors
In this press release, Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.
Deloitte AG is an affiliate of Deloitte NWE LLP, a member firm of DTTL. Deloitte NWE LLP and DTTL do not provide services to clients. Deloitte AG is an audit firm recognised and supervised by the Federal Audit Oversight Authority (FAOA) and the Swiss Financial Market Supervisory Authority (FINMA).
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