Shanghai: Deloitte Touche Tohmatsu Limited (DTTL) is to invest US$750 million in what it sees as strategic growth markets over the next three years,
The commitment was announced at its annual World Meetings, and builds on its previous three-year strategic market investment program (FY10-12), which totalled US$500 million.
This multi-year investment focuses on 11 strategic markets around the globe: Africa, Brazil, China, Commonwealth of Independent States (CIS), Germany, India, Japan, Korea, Middle East, Southeast Asia, and Turkey.
- More than 50 percent (US$400 million) of investment plan targeted toward Asian markets
- Seventy-five percent (US$550 million) of investment plan aimed at hiring, deploying, and developing talent
- Total of US$1.25 billion investment in strategic markets between 2010-2015
Deloitte says the investment program aims to expand client service and industry capabilities in select strategic markets, bolster the hiring and deployment of top talent, and cultivate innovative new services and multidisciplinary offerings. It also supports the Deloitte member firm network's "As One" global strategy, which enhances the network's ability to seamlessly deliver world-class services across borders, while leveraging the market-focused accountability of its member firm structure.
"As the global business landscape continues to be redefined, Deloitte member firms are focused on building the scale and breadth required to address clients' most pressing needs and help them capitalize on emerging business opportunities," said Barry Salzberg, Global CEO, DTTL.
"A significant part of this investment focuses on hiring, deploying, and developing the right talent to deliver high-quality, seamless client service."
- More than 50 percent of the investment (US$400 million) will be geared toward Asian countries, namely China, India, Japan, Korea, and Southeast Asia
- More than US$250 million will go toward markets in Europe and the Middle East.
- Seventy-five percent (US$550 million) of the total investment is earmarked for talent hiring, deployment, and development
The investment will bolster service offerings and delivery platforms in all four business lines — audit and enterprise risk services, tax, consulting, and financial advisory.
The three-year strategic market program announcement was made at DTTL's World Meetings, the Deloitte organization's largest annual leadership summit convening senior leaders from Deloitte member firms around the world. The firm says that this year's meeting location, Shanghai, reflects the critical role that the city and China both serve on the world economic stage, as well as within the global Deloitte member firm network.
"Chinese companies are an increasingly significant part of the world's economic growth engine, and the Deloitte network is committed to investing in its capabilities in China and in the markets where these companies are expanding," said Brian Derksen, Global Deputy CEO, DTTL.
"The strategic market program further underscores the network's commitment to developing the capabilities needed to best serve clients anywhere in the world."