UAE. At its annual World Meetings which took place in China this year, Deloitte Touche Tohmatsu Limited (Deloitte) announced its commitment of US$750 million in investments in strategic markets over the next three years, a continuation of the prior three-year strategic market investment program (FY10-12), which totaled US$500 million.
This sizeable new investment focuses on 11 strategic markets around the globe: the Middle East, Africa, Brazil, China, Commonwealth of Independent States (CIS), Germany, India, Japan, Korea, Southeast Asia, and Turkey.
The investment program aims to expand client service and industry capabilities in select strategic markets, such as the Middle East, to 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 US$250 million will go toward markets in Europe and the Middle East.
· More than 50 percent of the investment (US$400 million) will be geared toward Asian countries, namely China, India, Japan, Korea, and Southeast Asia.
· 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 Middle East is playing an increasingly significant part of the world’s economic growth engine. The Deloitte network is committed to investing in its capabilities in the Middle East, an emerging market which offers an abundance of opportunities for various industries,” said Omar Fahoum, Chairman and chief executive of Deloitte in the Middle East. “The strategic market program further underscores the network’s commitment to developing the capabilities needed to best serve clients anywhere in the world.”
The three-year strategic market program announcement was made at Deloitte’s World Meetings, the organization’s largest annual leadership summit convening senior leaders from Deloitte member firms around the world. 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.
Photo: Omar Fahoum, Chairman and chief executive of Deloitte in the Middle East.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's approximately 182,000 professionals are committed to becoming the standard of excellence.
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About Deloitte & Touche (M.E.):
Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence for over 85 years.
Deloitte is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with over 2,500 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region (International Tax Review World Tax 2010, 2011 and 2012 Rankings) and was recognized as the 2010 Best Consulting Firm of the Year in the Complinet GCC Compliance Awards.
In 2011, the firm received the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).