PwC and WalterTurnbull join forces

31 May 2010

PricewaterhouseCoopers has today announced it will more than double its Canberra team by merging with Canberra's leading local professional services firm WalterTurnbull.

WalterTurnbull was founded in 1993 by Andrew Turnbull and Don Walter. Since then the mid-market specialist practice has grown to just under 200 staff with turnover of $30million.

Andrew Turnbull, will take the reigns of the merged Canberra practice as PwC Canberra's Office Managing Partner from 1 July 2010. Terry Weber will continue to lead PwC's Federal Government consulting practice.

"WalterTurnbull merging with PwC's Canberra team now provides both firms with a great opportunity. Separately we have been looking to increase our capacity to service our clients in Canberra and bringing the teams together now means we will be able to do it."

"In the past we've had other firms approach us but none of them was PwC. PwC's culture and service excellence is absolutely right for WT. Put simply this is the right transaction at the right time with the right people" said Andrew Turnbull.

"Increasingly it's becoming more important to have a depth of expertise in your offering to clients. By merging with PwC we will have access to some of the best thinkers in the country, and internationally. We're joining the leading professional services firm in Australia. I'm convinced that will translate into better outcomes for our clients," said Turnbull.

Mark Johnson, CEO of PricewaterhouseCoopers Australia, said, "We are delighted to welcome Andrew and the WalterTurnbull team to PwC. From the beginning of our discussions it was clear that WT was the perfect fit for PwC, for our staff and for our clients. The merger is consistent our focus on serving government and private clients and we look forward to incorporating WT's local expertise. The merger will significantly enhance our ability to achieve our shared growth aspirations to create a stronger, more distinctive footprint not just in Canberra but nationally".

The merger of the two firms in Canberra will bring PricewaterhouseCoopers' Canberra practice to 15 partners and approximately 300 staff. WT Sydney based staff and partners will join PricewaterhouseCoopers Sydney team.

The transaction will take effect from 1 July, 2010.

About PwC

PricewaterhouseCoopers provides industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

'PricewaterhouseCoopers' refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.