The Chinese arm of PwC is bracing for significant regulatory penalties following its involvement in auditing the troubled property developer Evergrande. Reports suggest that PwC, through its local subsidiary PwC Zhong Tian, is expected to face a six-month suspension starting in September, alongside a substantial fine.
AlixPartners has strengthened its forensic consulting offering in Asia with Michael Peer. Appointed Partner & Managing Director, Michael Peer brings more than 30 years of experience in dispute resolution and risk advisory to the global consulting firm.
While mergers and acquisitions are notorious for their complexity anywhere in the world, recent deals in Asia Pacific’s telecom market have demonstrated how a right M&A approach and post-merger execution can lead to transformational synergies, writes Lim Jia Yee from Analysys Mason.
Bain & Company subsidiary ArcBlue has launched a new office in Kuala Lumpur. Chris Hampden, Southeast Asia director at ArcBlue, said the new hub comes in response to growing demand from clients in the Malaysian market, and builds on its growth strategy to expand its coverage across the Asia Pacific region.
Asian real estate platform PropertyGuru has been acquired by EQT, in an all-cash deal valuing the Singapore-based online real estate platform at $ 1.1 billion. The deal was advised on by advisors from investment banks, M&A consultancies and law firms.
ArcBlue has been named the best procurement consulting firm for 2024 at the CPO Awards, an event for chief procurement officers from companies operating across the continent. Organized annually, the CPO Summit & Awards is an event that brings together procurement leaders and industry experts from the region to discuss the latest trends, challenges, and opportunities in procurement.
Alvarez & Marsal has appointed Wei Zhu as Managing Director and Co-Head of its North Asia region. In his new role, Wei Zhu will work alongside fellow Managing Director and Co-Head James Dubow to spearhead Alvarez & Marsal’s operations in North Asia, which spans offices in Beijing, Shanghai, Hong Kong, Shenzhen and Seoul.
Global management consulting firm Oliver Wyman has appointed Paul Ricard as the new Asia-Pacific Head of its Insurance and Asset Management practice. After almost a decade and a half with Oliver Wyman in the United States, first based in New York and then in California, Paul Ricard has now relocated to Singapore from where he will lead the Insurance and Asset Management practice across the Asia-Pacific region, including in China, Hong Kong, Southeast Asia, Japan and Australia.
Organizations across Asia still have a long way to go to reach higher standards of excellence in their procurement, especially in areas like technology and sustainability. That is according to a study from ArcBlue, which surveyed Chief Procurement Officers across Asia.
As part of its global AI collaboration with Microsoft, EY has announced it will provide over 500 consulting professionals in Singapore with learning & development opportunities to hone their AI capabilities.
Australian accounting and consulting firm Hall Chadwick has added yet another office to its growing international list, this time in Hong Kong, to be overseen by local expat Kayla Hardy. The launch of the Hong Kong branch follows a New York addition in April, while the firm – which traces its heritage back for almost 130 years – has also expanded to New Zealand and Singapore since the beginning of 2022.
The oil and gas industry in Indonesia must step up decarbonization efforts, though a knowledge gap and reluctance to make the necessary investments is holding back the transition. That is according to an analysis of the sector by management consulting firm YCP Solidiance.
Two of Asia’s premier megacities – Hong Kong and Singapore – have been ranked as the most expensive cities in the world when it comes to cost of living. That is according to Mercer’s latest Cost of Living City ranking.
Deal activity by private equity groups in Southeast Asia enjoyed a strong rebound in the second quarter of 2024, up 10-fold in deal value and 1.6 times in deal volume, according to research from EY. In Q2 2024, Southeast Asia saw a total of 28 deals closed by financial sponsors, up from 17 deals the previous quarter, and up from 9 in the same period in 2023.
Global consulting firm Kroll has brought Garry Crossley on board as Asia Pacific leader of its Delay practice. Appointed a Managing Director, Garry Crossley has over 35 years of experience advising clients internationally on project and program delivery in the engineering, utilities, oil & gas, transportation, building and construction, infrastructure, petrochemicals and aerospace sectors.
Large countries in Asia Pacific lose between $ 500 and $ 600 billion in economic value each year due to poor agreement management processes. That is according to research from Docusign and Deloitte. Globally, the amount of losses linked to bad agreement management amounts to a staggering $ 1.
US consulting firm Berkeley Research Group (BRG) has launched a new office in Thailand, its 5th in Asia. The new office in Thailand’s capital city will serve clients nationally and operate as regional hub for the four other Mekong countries, Myanmar, Laos, Cambodia and Vietnam.
International communications and public affairs consultancy Sandpiper has appointed Michael Rinaman as Managing Director of its Strategy practice. Based in Hong Kong, Michael Rinaman will lead the development and growth of the Strategy practice globally, while integrating its services with the firm’s Digital Communications and Research & Insights offerings.
PwC has been forced to fire hundreds of staff in China following a nosedive in accounting revenues from mainland-listed clients, and is anticipating further moves as the fallout from its Evergrande scandal unravels.
EY has appointed Yew-Poh Mak as Asia-Pacific Deputy Area Managing Partner, succeeding Harsha Basnayake as he assumes a global role at the Big Four firm. Yew-Poh Mak has over 30 years of management consulting and corporate management experience.
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