Deloitte earmarks an additional US$321m investment in the Asia Pacific market to benefit its clients and people
Published: 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.
"Deloitte China celebrated the momentous occasion of our 100th anniversary last year, and now, becoming part of Deloitte Asia Pacific is the right choice for our clients, our people and our firm as we embark on the next chapter of the China journey. This strategic move towards global integration will enable us to provide the seamless delivery of best-in-class services to our clients across the globe and the region, especially with the rise of China-headquartered multinationals in the global arena and under China's Belt and Road Initiative; to best assist our clients in coping with new disruptions to businesses, and technology transformation, as well as attract, retain and develop the best and brightest talent with the most fulfilling career development platform. Through our extensive client and talent experience, and additional capacity to invest and grow, Deloitte Asia Pacific is the best platform we could have to leverage, to help accelerate our journey towards undisputed leadership of professional services in China," Patrick Tsang, CEO of Deloitte China.