London: PwC is promoting a record 53 new equity partners in the UK, 20% more than last year, reflecting, it says, a more buoyant economy and plans for sustainable growth. The new partner group is drawn from a diverse range of backgrounds with more women and individuals from ethnic minorities moving into senior positions.
- 53 new equity partners in total, a 20% increase on 2013
- 40% of new partners are women
- 43% of new partners are based in regions
- 20% are from a culturally diverse background
- Eight of the new female partners currently work flexibly
- One new partner joined PwC as a school leaver
40% of the new partners are women, a threefold increase on the number promoted last year, with eight of them working flexibly. PwC now has more women equity partners than any other professional services firm with 148 female equity partners in the UK, plus three in its legal arm.
Forty-three percent of the new partners are in the regional midmarket business, reflecting the significance that PwC places on UK regional growth prospects and the importance of supporting clients at a local level.
Ian Powell, UK senior partner and Chairman, commented, "Increasing the diversity of the leadership in the business has been a top priority since I was elected in 2008. It was clear that we could only deliver our growth plans if we were a diverse and inclusive business. Since then we have introduced a range of talent management programmes that help people achieve their potential, including Board level mentoring schemes, women's leadership programmes and 'Open Mind' diversity training.
"I'd like to congratulate all of our new partners and welcome them to the UK partnership.We will continue to focus on ensuring there is a pipeline that will see even greater diversity in the future."
Opening up opportunities
Gaenor Bagley, executive board member and head of people at PwC, added, "We have put a real emphasis on opening up opportunities but not lowering the entry level, so that the most talented people come through to leadership positions, regardless of their background. It's vital that we don't become complacent, but instead continue in our efforts to level the playing field in talent management and I'm excited about what this means for the future.
"Throughout the downturn we continued to admit new partners and recruit high levels of experienced hires, graduates and school leavers, despite the uncertain economic environment. This has positioned us well for the return of market confidence. Our ambitious partner admission and recruitment plans this year reflect our confidence in our future growth."
PwC is recruiting record levels of young people to the firm, and will take on more than 1,500 graduates and more than 140 school leavers this year. Across all student programmes the firm will recruit around 2,500 students to full time, internship and work experience roles. The firm has pioneered new approaches to recruitment and assessment including sponsored degree programmes and offering the first Higher Apprenticeship in professional services.