PwC seeks to bolster top ranks by poaching partners from Big Four rivals
PwC is seeking to bolster its top ranks by poaching partners from its Big Four rivals.
The accounting firm is hoping to hire up to 500 new partners with expertise in tax, cloud services, financial crime, and ESG advice, the Financial Times first reported.
In doing so, PwC is seeking to take advantage of discontent around EY’s global split by poaching some of the accounting firm’s senior executives.
The hiring spree could see PwC take on as many new partners in 18 months as it has over the past six years, in a shift that is aimed at giving the Big Four firm a long-term competitive advantage.
EY’s partners could receive windfall payouts of up to $8m each following the split, which would see the firm separate its audit segment from its advisory business.
The plans, which are set to be voted on by 13,000 of EY’s partners from across the globe, are set to see the Big Four firm float its consulting business on the stock market.
An EY spokesperson said: “The retention of our people throughout this year has been very high, including partners.”