116 global and regional Deloitte partners discuss Middle East strategy as a priority market in DubaiDOWNLOAD
November 20, 2012 – Over 100 global and regional Deloittepartners gathered from November 16 to 19, 2012, in Dubai for the Middle East firm’s annual partners meeting. In addition to the regional agenda, the participants discussed strategies around delivering the services and experience of the global firm, to its clients in the private and public sectors in the region. Deloitte has for the fourth year in a row designated the Middle East region as a priority market in the Deloitte network.
“The Middle East is playing an increasingly significant role in the world’s economic growth engine. The Deloitte network is committed to investing in its capabilities in the Middle East, a priority market which offers an abundance of opportunities for clients in various industries,” said Omar Fahoum, chairman and chief executive of Deloitte in the Middle East.
He continued: “Complexity, disruption, and speed of change are the new reality for our clients. Our success this past year is the result of adapting business strategies to anticipate client needs and address the changing requirements of a dynamic market.”
In addition to the members of the Deloitte ME board, and its partners, participants included, Steve Almond, Global chairman of Deloitte Touche Tohmatsu Limited (DTTL), David Sproul, Deloitte global Managing Director Regions and CEO of Deloitte UK, Raymond Lewis, Global Deloitte Regulatory Leader, Sabri Challah, Vice Chairman Deloitte UK, and Francis Dubas, Global Sovereign Wealth Fund Leader. Country leaders included: Christis Christoforou, CEO Deloitte Cyprus; Huseyin Gurer, CEO Deloitte Turkey; Michael Hadjipavlou, Chairman Deloitte Greece and Paul Mercieca, CEO Deloitte Malta.
“Deloitte member firms continue to lead the industry in offering solutions that address changing market realities as well as capitalize on the strength of the firm’s global, borderless network. This is prevalent across the Middle East, where a period of transformational change has brought with it many repercussions,” said Steve Almond, Global Chairman of Deloitte Touche Tohmatsu Limited (DTTL). “Yet, in light of global and regional challenges, in FY12 the Deloitte network marked its highest revenues ever. This demonstrates the commitment and might of the employees at the firm,” he added.
Notable promotions across the Middle East
Deloitte continued to focus on hiring, developing, and retaining top talent as a key driver of the expansion of business activity. In Fiscal Year 2012, the Deloitte network hired 51,400 professionals; its total workforce now exceeds 193,000 professionals worldwide and the organization is well on its way to achieving its growth goal of 250,000 professionals by FY2015. In the Middle East, in Fiscal Year 2012, Deloitte hired 400 professionals and promoted 40 partners, directors and principals.
Earlier in the year, Deloitte announced aggregate member firm revenues of US$31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever. Aggregate revenues grew 8.6 percent in U.S. dollars—the strongest revenue increase since 2008. Deloitte also announced a total of US$1.25 billion investment in priority markets, between 2010-2015. Priority markets are defined by Deloitte as those exhibiting great opportunities for growth.