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PwC Australia entered an exclusivity agreement with private equity firm Allegro Funds to sell its government practice for A$1 as it brought in an executive from Singapore to lead its local firm.
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Top advisory group spins out business accounting for 20% of revenue amid growing backlash from government clients
Beleaguered consultancy giant PwC Australia has named its new chief executive officer and announced it will sell off its government operations to a private equity firm for just $1.
The decision by PwC Australia to sell its government business for A$1 and appoint a new CEO is expected to have a significant impact.
Embattled firm PwC has announced Singapore-based consulting veteran Kevin Burrowes will take over as CEO in Australia as the company also looks to offload its government consulting arm in the wake of the tax leaks scandal.