PwC Australia has today announced its largest ever intake of 91 new partners, up from 72 in 2016, with all of the firm’s businesses and geographies represented.
Helen Fazzino, PwC Australia’s Managing Partner, People & Culture said: "We are delighted to welcome these 91 individuals to our partnership - all bring a passion for solving the most important problems faced by business and Australia more broadly."
The firm’s Financial Advisory business accounted for the bulk of the admissions, with a total of 41 tax, legal, deals, and private clients specialists admitted.
PwC’s Consulting business admitted a total of 29 partners, with 16 of these going into the areas of technology, cyber, data analytics and digital services. The firm’s Assurance division admitted 13 partners.
"This year's partner admissions reflect both what clients need today and what they'll need from us in the future."
"The growth in partner numbers across our Financial Advisory business represents the underlying client demand for tax and legal services and deals support."
"More than half of the partner admissions in our Consulting Business come from our cyber, digital, data and technology practices - a strong signal of continued market appetite for these offerings."
"And most pleasingly, we are continuing to see solid growth in our core assurance business, with 13 new partners admitted across this business."
Diversity targets met second year running
In June 2015 PwC announced a gender target of ‘40:40:20’ for future partner intakes, with the aim to have a minimum of 40 per cent women and 40 per cent men making up future admissions. The remaining 20 per cent can be either men or women. A 20 per cent target for partner admits from diverse cultural backgrounds was also announced.
For the second consecutive year PwC met its gender diversity target, with 40 percent of the new partner intake female. Of the firm’s now 620-strong partner group, the proportion of women is 22 percent.
The firm also exceeded its 20 percent target for cultural diversity, with 22 percent of the new partners coming from diverse cultural backgrounds. According to Fazzino, this puts the firm on “the right trajectory to realise our ambition that 30 percent of new partners will come from diverse cultural backgrounds by 2020.”
“While we are happy with the result, we know that we will only meaningfully shift the dial on diversity with ongoing commitment and application. With the strong and diverse talent we have coming through the firm we’re confident we will continue to fulfil our ambitions both now and in the future.”
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