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Deloitte announces $50 million investment in its CIS firm

  • Major expansion planned for Deloitte in key emerging market;
  • Deloitte announces leadership succession plan.

7 April 2011

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 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 2000 and brings with him over 20 years of professional services experience  advising  major businesses and public sector organizations.

David Pearson commented: “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 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.


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