David Sproul re-elected Senior Partner and Chief Executive of Deloitte UK has been saved
David Sproul re-elected Senior Partner and Chief Executive of Deloitte UK
2 February 2015
The partners of Deloitte UK have re-elected David Sproul as Senior Partner and Chief Executive. David will begin his second term as CEO on 1 June 2015. Since David’s election in June 2011, revenue at the business advisory firm has increased by more than 20%, from £2,098m at the end of May 2011 to £2,550m in the most recent financial year. The number of partners and employees at the firm has also increased, by more than 10% to in excess of 14,000.
During David’s first term, the auditing profession has been subject to significant regulatory scrutiny, with a Competition Commission investigation into competition and choice in the audit market. Audit remains the bedrock of the firm, underpinning its reputation for quality and integrity which is a critical part of the firm’s responsibility in maintaining trust in the capital markets. In 2013, the firm underlined its commitment to audit quality and business transparency by publishing the UK’s first extended audit for Vodafone.
David has overseen the creation of Deloitte Digital, the rapid expansion of the firm’s operations in Switzerland and the delivery of more than 750,000 hours of support to the London 2012 Olympic and Paralympic Games. He also championed Deloitte’s award-winning Social Innovation Pioneers programme which has seen the firm provide more than £2.5m of support to 58 socially innovative businesses.
David Sproul said: “I want Deloitte to be recognised as the stand out firm in our market, admired for the impact we have on our clients’ success and reputation. I want the firm to be known for out-thinking the strategy consulting houses, out-innovating the technology services giants and outperforming our Big Four competitors.
“Deloitte is uniquely positioned to do this, with the deepest relationships and the broadest range of services in the market, combining our expertise across audit, tax, consulting and corporate finance. But with uncertain markets and ever-developing client expectations we will continue to be bold in our commitment to innovative new services and solutions. That is why in my second term as CEO, I will double the firm’s annual investment budget to more than £80m, equivalent to more than 10% of current profits.
“Investing in our people will also be a priority. Today’s talent market is evolving faster than at any time over the past 20 years. Our people seek a career experience that delivers personal growth, the ability to progress without sacrificing personal commitments and a clear connection between their role and the firm’s strategy. We have already been focused on building our people’s skills and developing future business leaders, but will do more to meet their expectations.
“The investments we make in our services and in our people will help our clients navigate an economic and political environment which remains uncertain. Our most recent survey of Chief Financial Officers found that wages are set to increase more quickly than inflation and business investment is set to rise. However, CFOs are also increasingly concerned over economic weakness in Europe and policy uncertainty at home, with a General Election ahead and the possibility of a referendum on the UK’s future in the EU.
“I am incredibly proud to be elected as chief executive of Deloitte for a second term and of the successes the firm has enjoyed during my first four years in this role. I am equally excited and energised by the opportunities and challenges which lie ahead.”
Prior to becoming CEO, David led the firm’s UK and EMEA tax businesses. He has more than 25 years’ experience and was formerly a partner with Arthur Andersen.
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited