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Samil PwC reaching transition The firm's organizational shakeup of a deals division reflects new chief executive's plan

Translated by Kim So-in 공개 2020-06-26 08:00:03

이 기사는 2020년 06월 26일 08:00 더벨 유료페이지에 표출된 기사입니다.

Samil PricewaterhouseCoopers (Samil PwC), one of the Big Four accounting and consulting firms in South Korea, is moving to divide its deals division in line with chief executive Yoon Hoon-soo’s plan to provide more specilized services for clients.

The firm will hold a partners’ meeting and make changes to its deals, assurance and tax divisions, sources said on June 24.

Investment industry insiders are showing interest in the organizational shakeup of the firm’s deals division as the restructuring is expected to have a strong impact on the market in the future, amid accounting firms’ increasing presence in the deal advisory market traditionally dominated by investment banks.

The heads of the teams are largely in their 40s. Market insiders said the firm has reached the transition, with the rise of a new generation of young professionals.

Responsible for merger and acquisition (M&A) advisory ]services, the deals division currently houses three departments of corporate finance, transaction services and financial advisory, with their various sub-units.

What is notable is that each member of the division will belong to two parallel groups within the deals division. One will be divided into five or six teams by industry and the other by deal types such as restructuring deals and private mergers and acquisitions, according to sources.

Each team in the group divided by industry will be led by a senior partner who has a title equivalent to managing director, while the heads of the teams in the other group may be chosen among those with a lower title. The group divided by industry will be responsible for short-term and regular works while the other group will be in charge of individual projects.

After the changes, each team will provide advisory services that range from acquisition and sale to due diligence. So far, advisory services have been provided by separate department, depending on the deal process.

Market insiders expect that Samil PwC may take another bold step to revamp its organizational structure. The latest changes may be the firm’s experimental move before it implements a radical structural overhaul when its marks its 50th anniversary in 2021, they said.

(Reporting by Ar-rum Rho)
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