RSM and PwC Indian Tax Practices Merge
RSM and PricewaterhouseCoopers have decided to merge their respective tax practices with effect from 1 April, 2007. The combined operations will be under the common brand of PricewaterhouseCoopers. The combined operations will have more than 4000 people across different offices in India.
Rathin Datta will continue to be the Chairman and CEO of PricewaterhouseCoopers. Dinesh Kanabar, Deputy Managing Partner, RSM will be the chairman of the combined tax practice, reporting into Rathin Datta.
Ashok Wadhwa, Managing Partner of RSM will not join the combined firm and will continue to manage the Ambit group of businesses including Ambit Corporate Finance, Ambit Capital and the new Joint Ventures initiated by Ambit with TV18 and Centurion Bank of Punjab for online broking, and with Nikko Asset Management for Asset management business in India.
Rathin Datta, Chairman and CEO of PricewaterhouseCoopers said, “it is all about talent, resources and scale. With the service sector growing at a rapid pace, it is natural to combine strengths and consolidate. I am extremely happy about this merger. The synergies will enhance the delivery capability of PricewaterhouseCoopers.”
Gene Donnelly, Global Managing Partner (Tax and Advisory), PricewaterhouseCoopers, commented, “PricewaterhouseCoopers is proud and excited that talented partners and staff of RSM have decided to join us. Together, we will provide our clients the best advice in India and around the world. We also welcome the 500 staff members of RSM and look forward to working with them.”
About PricewaterhouseCoopers:
PricewaterhouseCoopers Pvt. Ltd. (www.pwc.com/India) provides industry-focused tax and advisory services to build public trust and enhance value for its clients and their stakeholders. PwC professionals work collaboratively using connected thinking to develop fresh perspectives and practical advice.