Deloitte UK’s Senior Partner earns over £4million in 2006

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Deloitte in the UK reported further strong growth for the year ended 31 May 2006. Revenues grew by 15.0% to £1559m and total profits available for allocation to partners and to cover retired partner annuities grew by 8.7% to £489.2m. John Connolly, Deloitte’s Senior Partner and Chief Executive commented:

“Each of our four divisions performed well in an environment which remained reasonably buoyant and where our decision to continue investing in increased professional headcount and our unrelenting emphasis on quality was rewarded. Our unique range of skills in depth across each division and our continued interest across all client segments – government and public sector, major corporates and private companies – brought an interesting flow of new clients and engagements into our firm. The ‘hot’ M&A market, the growing importance of London as a centre of professional expertise and the continuing focus of companies on governance, risk and compliance all created quality business opportunities across our divisions.

Our Tax division grew more strongly this year in what is still a very challenging environment. Our leading position in Private Equity and Corporate M&A provided particular growth opportunity.Our specialist teams in Real Estate and International Tax were very active, influenced respectively by significant inflows of capital and the upcoming REIT legislation and many UK companies refocusing on international growth and the tax efficacy of their global operations.

Each of our divisions delivered very satisfactory profitability producing profit before tax of £460.9m (growth of 9.1%) and a total profit for allocation to partners and for annuities to retired partners of £489.2m (growth 8.7%).”

Profit Per Partner

Average profit per partner £765,000 (2005: £711,000)

Total profit shares of key management personnel (The Executive) was £27.9m (2005: £24.3m)

Profit share of Senior Partner and CEO £4,166,400 (2005: £3,632,600)

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