Deloitte integrates Gibraltar operation into its UK entity

13 June 2017 3 min. read
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Deloitte Gibraltar has become part of Deloitte UK. The integration of the Gibraltar member firm into that of the UK sees 50 staff transfer, including five partners. Through the integration what was formerly Deloitte Gibraltar, the staff will remain in place on the territory, is better able to leverage the resources of the must larger Deloitte UK. In addition it gains access to Deloitte North West Europe, set up late last year.

Gibraltar is one of the UK’s overseas territories. The territory has a population of around 32,000 and is directly connected with Spain at its northern boarder. As an area of special interest leading into upcoming Brexit negotiations, the territory been the cause of constant controversy throughout 2017, with a British nuclear submarine even being spotted in Gibraltar’s waters at the end of May, which Spanish sources interpreted as a show of force by the UK’s Ministry of Defence.

Amid this continuing unrest, global consulting giant Deloitte has announced that it is incorporating its previously separate member firm in Gibraltar into the larger Deloitte UK network. Established in 1991, Deloitte Gibraltar was previously one of the firm’s global members, and with a staff of fifty, including five Partners, has become one of the biggest consulting practices on the territory. The member firm offers a range of services, including various options for High Net Worth Individuals (HNWI) looking to reside in the territory.

Deloitte Gibraltar joins Deloitte UK

As a result of the new arrangement, the partners and staff will become an extension of the UK firm, while physically continuing to operate from their base in Gibraltar. Through the move, the Big Four firm suggests its Gibraltar office will be better able to meet client demand in the region and the firm’s growth – and hopes it will be able to leverage the UK’s and Europe’s wider resources.

The changes will further see the office gain access to Deloitte North West Europe – a new entity which contains the firm’s members in Belgium, Denmark, Finland, Iceland, the Netherlands, Norway, Sweden, Switzerland and the UK – despite Gibraltar’s geographical location, south of the Spanish coast.

Regarding the move, Joseph Caruana, lead Partner of Deloitte’s Gibraltar office, said, “The move allows us to benefit from the investment scale of Deloitte North West Europe and creates new opportunities for our people, helping us to attract, develop and retain the very best talent in our market.”

David Sproul, a Senior Partner and Chief Executive of Deloitte UK & Deloitte North West Europe, added, “We are delighted that Deloitte Gibraltar is becoming part of Deloitte North West Europe. Our strategy is to deliver services to clients as one seamless global organisation and today’s announcement is another step in that direction. Through Deloitte North West Europe, we are investing to allow us to better serve the needs of our clients who operate in a more globally connected way than ever before, and continuing our relentless focus on quality.”