Deloitte to invest $50 million in its CIS firm

Deloitte to invest $50 million in its CIS firm

Azerbaijan, Baku, April 7 /Trend/

Deloitte, the world's leading professional services organization, is to invest over $50 million in its CIS firm over the next five years to significantly expand its operations in what the organisation sees as an important developing economy and key marketplace, the company reported today.

The investment, from Deloitte's UK and other European firms, is accompanied by increased cooperation between the firms, giving clients even greater access to unrivalled expertise of the CIS, UK and other European markets.

At the same time, Deloitte has announced its leadership succession plans. David Pearson completes his four year term leading Deloitte CIS on 31 May, and will be succeeded as CEO by David Owen, who is currently the Managing Director for Consulting at Deloitte UK. David Owen has led Deloitte UK's Consulting business since 2,000 and brings with him over 20 years of professional services experience advising major businesses and public sector organizations.

"Deloitte has rapidly grown its presence in the CIS since opening the first office in Moscow in 1990. We have more than 2500 employees working in 15 offices across 10 countries and we have very talented people at all levels within the business. I am confident that David Owen, as the new CEO, will bring the expertise and knowledge required to continue expanding our business in the CIS and ensure we offer our clients a wide range of high quality services," David Pearson said.

David Owen, CEO elect, commented: "We expect the CIS to become one of the world's largest economies within

the next few years and we have a clear ambition to strengthen our position in this market, help our clients capitalise on the growing importance of the region and to become major global players. We are focused on expanding our expertise in various fields including audit, management consulting, M&A, tax and legal services and valuation.

"It is a very stimulating, exciting opportunity for me personally to take on the leadership of a firm of very talented individuals in such a dynamic and important market."

With its extensive international capital markets experience in London and other markets, Deloitte is uniquely placed to help the growing number of CIS businesses seeking to raise equity.

Through closer cooperation and investment in its people and services, Deloitte will be even better positioned to offer comprehensive support to these companies and give them additional competitive advantage in the CIS.

David Owen added: "There is currently a big appetite for cross-border business and, with all the experience at our disposal, we are well-placed in both the CIS and Europe to provide the expertise, knowledge and integrated solutions our clients need to meet their growth ambitions."
David Owen will work closely with Jean-Paul Picard the Chairman of the Deloitte CIS Board of Partners and the rest of the Board.

In 2010, Deloitte became the world's largest private professional services organization with aggregate member firm revenues of US$26.6 billion and approximately 170,000 employees.

Deloitte and its member firms are committed to investing in expansion in key emerging markets like the CIS through, hiring new talent, broadening and deepening client services and developing the capabilities of Deloitte people through best in class mentoring, training plans and secondment programmes.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see for a detailed description of the legal structure of Deloitte & Touche CIS.

Deloitte is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL).

As one of the first global professional services firms to start serving CIS clients, Deloitte opened its first office in Moscow in 1990. Since then, the Deloitte CIS member firm has grown to include around 2,500 local and expatriate professionals. Led by a team of 114 partners, our practice in the Commonwealth of Independent States is represented in 10 countries
through a total of 15 offices in Aktau, Almaty, Astana, Atyrau, Baku, Bishkek, Dushanbe, Ashgabat, Kyiv, Minsk, Moscow, St. Petersburg, Tashkent, Tbilisi and Yuzhno-Sakhalinsk.

Our goal and strategy is to build the premier professional services firm in the CIS. Over the last 20 years, we have completed a wide range of projects, adapting international practices to the Russian business environment, and accumulating valuable experience in serving local clients.

Our understanding of the specific nature of the CIS market, combined with the successful experience of a leading global firm, allows us to use our unique knowledge and methodologies to exceed our clients' expectations. Having local and international professionals working together allows us to take into account the unique local environment, while providing quality services that meet the highest international standards.

Known as an employer of choice for innovative human resources programs, Deloitte CIS is dedicated to helping its clients and its people excel.

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