Deloitte purges half of UK top team to nurture ‘next generation’

Deloitte has axed half its UK top team in an unexpected leadership overhaul today as it looks to nurture younger executives to take over from chief executive Richard Houston in 2027.

The Big Four firm revealed eight of its senior leadership team including its managing partner would be bumped out to make way for six new partners to take the reins, as the executive team shrinks in size to 14.

Richard Bell, Pauline Biddle, Stephen Griggs, Anne-Marie Malley and Andy Morris have all been dropped by the firm but will reportedly remain in “important roles”.

Deloitte said that recently re-appointed UK chief Richard Houston, who is set to be in post until 2027, had orchestrated the reshuffle.

Cindy Chan is set to become the Managing Partner Risk Advisory, Rob Cullen will take on the role of managing partner of consulting while Philip Mills takes on the role of UK managing partner.

Mills is a 20 year veteran of the firm and has led the global tax and legal practice for the past three years.

Charindra Pathiwille, currently head of London transaction services in financial advisory,  is set to become the new managing partner of financial advisory, while Nick Turner has been appointed as Managing Partner Growth.

Duncan Farrow-Smith will take on a newly-created role of Chief Strategy Officer. 

Houston congratulated the new team today and he looked forward to working with “this next generation of leaders”. 

“As reflected in our recent financial results announcement, our firm is in a strong position and this is down to the excellent leadership and focus of our previous Executive team,” he added.

“I would like to thank Richard Bell, Pauline Biddle, Stephen Griggs, Anne-Marie Malley and Andy Morris for all their support and hard work in helping us achieve so much over the past few years.”

Deloitte’s UK arm notched a ten per cent jump in revenues to £4.9bn at the end of September, while distributable operating profit increased by 21 per cent to £711m.

The UK reshuffle follows the appointment of Joe Ucuzoglu as global chief of the firm this week from the position of US boss.