Deloitte has announced that its geographies in Australia, China, Japan, New Zealand and Southeast Asia are coming together to create Deloitte Asia Pacific (including Vietnam). 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 $321 million 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 September 1 and the five geographies collectively will have almost 44,500 professionals, with the potential to create a $10 billion business by 2022.
“This is an exciting move for Deloitte in the Asia Pacific region – the fastest growing region in the Deloitte network,” said Ms. Cindy Hook, Deloitte Asia Pacific Chief Executive Officer. “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.”
She added that the increased investment will also support Deloitte’s 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 it 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,” Ms. Hook said.
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, according to Mr. Punit Renjen, Deloitte Global CEO.
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 $38.8 billion.
Commenting on the impact of Deloitte Asia Pacific to the Southeast Asia market, Mr. Philip Yuen, Chief Executive Officer, Deloitte Southeast Asia added: “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 to work together to seize the opportunities ahead to remain the market leader in professional services.”- Vietnam Economic Times.
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