PwC loses key partners to Deloitte

By SiliconIndia   |   Tuesday, 28 September 2010, 12:21 Hrs
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Kolkata: The global audit and consulting firm of India, PricewaterhouseCooper (PwC) is facing attrition in their advisory practices as two of their key partners leave to join Deloitte Touche Tohmatsu India, which provides audit,consulting and financial advisory. Debasish Mishra and Shubhrangshu Patnaik were partners at the PwC's GRID and were handling important clients. GRID offers advisory services on energy, infrastructure, state government reforms, public finance and public sector restructuring. PwC has around 135 partners spread across various practices in India. According to PwC's spokesperson, the GRID practice is part of the firm's advisory practice, which has some 50 executive directors and 2,500 professionals.

Mishra joined Deloitte India's Mumbai office with effect from Monday as partner and executive director, Patnaik has joined at Deloitte's Delhi office in the same capacity on the same day. Roopen Roy, Managing Director, Deloitte India, said that Mishra and Patnaik were vast experienced in the field and their talents would add substantial value to their firm.

This is not the first time that the GRID executive directors have indicated to pursue their interest outside PwC.Last year, Dinesh Kanabar, erstwhile head of PwC's tax practice, left with 19 partners and around 180 professionals to join KPMG India.

There were a lot of speculations about Kaushik Dutta quitting PwC, as he was part of India leadership team and led the firm's advisory services. It was thought that he left for Grant Thornton Llp, but he quit as he wanted to setup a center for research on economics and social sciences. However, he said if they were to sponsor his project he would naturally join them to offer his services.

Gautam Banarjee ,Chairman of PwC did not comment on why the key partners chose to leave but said that PwC will always remain valuable to all organizations and they will continue to nurture and build leadership talent.

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