MEDIA RELEASE PR41606
Deloitte Ascends to Become the Largest Private Professional Services Organization
Worldwide
NEW YORK, Oct. 5 /PRNewswire-AsiaNet/ --
- More than US$1 billion committed to growth initiatives during the next
five years
- Plans to hire more than a quarter million people over the next five
years
- Major investments allocated in support of the new global "As One"
strategy
- As the fastest-growing private professional services organization from
2005 to 2009, Deloitte outgrew its peers by 2.7 to 3.3 percentage points
annually
Deloitte Touche Tohmatsu Limited (DTTL) is proud to announce that its
member firms 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.
"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 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 2.7 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.
Investment allocation
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. Highlights are noted below:
- More than US$500 million in the following priority markets: Brazil,
China, India, Japan, Middle East, Russia, and Southeast Asia, as well
as a number of European countries.
- Approximately US$400 million toward developing the capabilities of
Deloitte people across the global network to support client needs in
this changing landscape. This includes a US$300 million Deloitte U.S.
investment in Deloitte University, a state-of-the-art learning and
development facility scheduled to open near Dallas, Texas, in 2011.
Further, Deloitte plans to hire more than a quarter of a million
people during the next five years.
- More than US$100 million into "As One," Deloitte's new
organization-wide business and operational strategy. The "As One"
strategy is designed to respond to clients' increasingly complex
needs, and to enhance the member firm network's ability to seamlessly
deliver world-class services across geographic and business borders.
- More than US$300 million committed to Deloitte Audit. Audit is a
fundamental element of the member firm network's portfolio, and
investment funds continue to be prioritized toward enhancing audit
quality, technology, and methodology in response to regulatory,
economic, and other factors influencing the profession.
Other investments will go into member firm partner training and
development programs.
"As the global marketplace shifts and the business landscape continues to
be redefined, Deloitte is focused on building the scale and breadth required
to address their clients' most complex challenges, and on helping clients
capitalize on emerging business opportunities," said Manoj Singh, Global
Managing Director, DTTL Operations.
The new "As One" strategy will focus on expanding Deloitte's presence and
scale, paying specific attention to priority markets and committing to
borderless execution. A large portion of the "As One" investment will go into
extending member firm client service capabilities, including transforming
delivery models through technology, extending and growing global market
offerings (e.g., analytics), and identifying innovative business
opportunities. The "As One" strategy will also focus on growing Deloitte's
priority and strategic markets, including China and India.
"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 who practice under the Deloitte
name."
"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.
"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."
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
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 than 140 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.
SOURCE: Deloitte Touche Tohmatsu Limited
CONTACT: Christine Selph,
Global Communications, Deloitte Touche Tohmatsu Limited,
+1-212-492-4517,
Mobile: +1-347-429-2891,
cselph@deloitte.com, or
Jyoti Chopra,
Global Communications, Deloitte Touche Tohmatsu Limited,
+1-212-492-4086,
Mobile: +1-609-216-1429,
jychopra@deloitte.com; or
Cecilia Coakley,
MWW Group,
+1-201-964-2395,
Mobile: +1-201-681-9886,
ccoakley@mww.com
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