Deloitte - largest professional services organization worldwide

Riga, 19 October 2010 – Deloitte Touche Tohmatsu Limited (DTTL) is proud to announce that its member firms (Deloitte) have risen to become the largest private professional services organization in the world for the first time in the organization’s history. With this milestone, Deloitte surpasses all competitors in the private professional services category to become the market leader based on revenue and headcount. As of the fiscal year ended 31 May 2010, Deloitte had aggregate member firm revenues of US$26.578 billion (US$26.6B) and employed approximately 170,000 people worldwide, including nearly 35 percent in priority markets.

“We are currently ranked #1 in the market because of wide range of services offered – as in addition to audit we are also providing extensive consulting services to our clients” said Deloitte Latvia Office managing partner Igor Rodin, “to assist our clients in “difficult financial times” we have established Deloitte Legal practice where lawyers together with finance professionals are working on restructuring and bailout projects. Also one of our distinctive features that differentiates us from our competitors is that 99% of our clients are privately owned businesses therefore we do not claim money from the state budget. We were keeping this strategy also during crisis time.”

“When Deloitte Haskins & Sells and Touche Ross & Co. merged in 1989 to form our modern organization, we were the smallest of what was then the Big Eight. Over the years, our goal was never to be the largest—we have always aimed to be the best, to be the standard of excellence,” said DTTL Global CEO Jim Quigley. “Deloitte professionals have pursued that goal by consistently delivering high-quality, world-class client service and demonstrating a strong focus on responsible business practices. Their commitment and dedication to living our values-based culture have transformed Deloitte into the world’s number one private professional services organization. This is a defining moment in our history.”

Over the years, Deloitte has consistently closed the gap and widened the lead among its major competitors. In fact, over the last five consecutive years, Deloitte was the fastest-growing private professional services organization based on total revenue among the Big Four. During the period from 2005-2009, Deloitte outgrew its peers by 2.5 to 3.3 percentage points annually. The organization has achieved its leadership position through a combination of organic growth, strategic acquisitions, a focus on quality, and bold investments in priority and emerging markets.

To continue this growth momentum, DTTL and its member firms have committed more than US$1 billion in strategic investments over five years. These investments include introducing innovative new services and multidisciplinary offerings, expanding capabilities in selected emerging and priority markets to serve clients, hiring new talent, and developing the capabilities of Deloitte people worldwide.

Deloitte has developed new “As One” strategy which will focus on expanding Deloitte’s presence and scale, paying specific attention to priority markets and committing to borderless execution.
“The real power of the Deloitte ‘As One’ strategy is when member firms combine their skills and work in teams across borders to deliver an unbeatable client service experience,” said John Connolly, DTTL Chairman and Deloitte United Kingdom CEO. ‘As One’ is a differentiator; it brings together all of our people from around the world under a single identity known as Deloitte.”

“Deloitte’s vision, strong global culture, and shared values remain unchanged,” said Quigley. “These elements brought us to where we are today—to the leadership position—and they will remain the source of our success tomorrow. With 170,000 Deloitte professionals working ‘As One,’ I am confident that we will continue to grow our businesses and move closer to our vision to be the standard of excellence and the first choice of the most sought-after clients and talent.”

DTTL today releases its 2010 Annual Review (www.deloitte.com/annualreview), “Reaching new heights, As One,” which charts milestones achieved by DTTL and its member firms in the past year. The Annual Review also provides illustrations and case studies of the organization’s unwavering commitment to member firm clients, people, and communities.

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About Deloitte
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 www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's approximately 170,000 professionals are committed to becoming the standard of excellence.

About Deloitte Latvia
In Latvia, the services are provided by SIA Deloitte Latvia and SIA Deloitte Audits Latvia (jointly referred to as “Deloitte Latvia”) which are affiliates of Deloitte Central Europe Holdings Limited. Deloitte Latvia is one of the leading professional services organizations in the country providing services in tax, legal, audit, consulting and financial advisory through over 60 national and specialized expatriate professionals.