PwC to sell government business for $1
Sunday, 25 June, 2023 - 11:45
The embattled firm will offload its state and federal consulting business to private equity group Allegro while an international PwC executive will take charge in Australia.
Kevin Burrowes has lived and worked in London, New York, Singapore and Frankfurt. Throughout his career, he has focused on advising, leading & delivering strategy and transformation projects, predominantly in financial services.
Mr Burrowes first joined PwC in 1986. He was a member of PwC UK’s executive board for four years where as managing partner, he led on clients and markets for the UK firm. He has also been a PwC partner for 19 years, having re-joined PwC UK in 2009. Mr Burrowes has been the global clients and industries leader, based in Singapore, since July 2020. He will become a partner in PwC Australia and relocate to Sydney upon completion of the Australian immigration process, where he will also take up the roles of chief executive and serve as chair of its executive board.
Mr Burrowes had also held senior executive positions at IBM, Credit Suisse and Royal Bank of Scotland.
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The embattled firm will offload its state and federal consulting business to private equity group Allegro while an international PwC executive will take charge in Australia.
The new head of PwC Australia has apologised at a Senate hearing for the firm's role in passing on confidential Treasury information to private sector clients.
Westpac has ended its relationship with external auditor PwC as the under-fire firm continues to face setbacks after a leaking scandal.
Accounting giant PwC has announced hundreds of redundancies and the accelerated retirement of partners, with its national headcount to be cut by about 5 per cent.
PwC boss Kevin Burrowes “misled” Senator Deborah O’Neill in not disclosing $1.2 million in payments from the consulting firm’s parent company, a joint committee into the PwC tax scandal heard.
PwC Australia has reported a sharp decline in annual revenue and staff numbers and a second big fall in partner income after a period of major restructuring.
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