PwC announces promotion of 63 new partners in UK

Big Four firm PwC has promoted more than 60 new partners across its UK operations. The move takes effect from the start of July 2021.

Kevin Ellis, Chairman and Senior Partner, PwC UK commented, “These promotions represent the diverse skills we need to continue to grow sustainably while supporting our clients and people as they respond to unique challenges and opportunities.”

According to a release from PwC, the firm has advanced 63 professionals across its audit, consulting, deals, and risk and tax divisions. The deals practice has seen the largest number of elevations, with 18 people becoming partners – a reflection of the UK’s buoyant M&A market at present. In the wake of the Covid-19 pandemic, investors are finding a number of cut-price opportunities in Britain, which is seeing mounting demand for PwC’s deals services to support clients.

The news follows PwC’s global announcement earlier in June that it would be pushing ahead with a new international strategy. The plan is aimed at increasing the firm’s focus on environmental, social, and governance (ESG) services, digital, and the concept of “trust,” while the audit and advisory network also plans to invest $12 billion and add 100,000 people to its international presence in the next five years.

In line with this, PwC UK’s new cohort of partners reflects rapidly growing client demand in areas such as ESG, with new partners focused on Net Zero strategy, diversity and inclusion priorities, corporate governance, and transformation. Overall, PwC’s plans will see it sink $1.2 billion into its UK wing over the coming four years, with a focus on creating 4,000 new jobs, expanding its headcount from to 26,000 people.

Ellis added, “We are committed to investing in the future of our business and I am delighted to congratulate and welcome this talented group of new partners. The role of leaders has never been more important and, as we look ahead, these new appointments will further strengthen our partnership.”

At the same time, the partner promotions have also seen PwC improve its diversity efforts. Of the newly promoted partners, 41% are women, and 13% are from a minority ethnic background – meaning 23% of total partners will be female and 11% from a minority ethnic background from July 2021. This will see the firm draw closer to its target of having 30% female partners and 15% from minority ethnic background, ahead of its self-imposed 2025 deadline.