PwC Australia acquires specialist tax firm, Greenwoods
Australian tax advisory firm, Greenwoods, will join PwC Australia mid this year with 15 market-leading tax partners and 50 staff joining the firm.
The combination of Greenwoods and PwC Australia will create a distinctive offering in the market, building on PwC Australia’s existing market leadership with an expanded suite of capabilities for clients.
PwC Australia’s Financial Advisory Managing Partner, Pete Calleja said “Greenwoods is very highly regarded in the market for its M&A, infrastructure, real estate, financial services and high net wealth capabilities and its partners and their teams will bolster PwC Australia’s broader Financial Advisory business comprised of Deals, Integrated Infrastructure, Legal, PwC Private and Tax.”
PwC Australia’s Tax Leader, Chris Morris said, “This is a significant investment in our Tax business and offers us a unique opportunity to cement our status as the number one provider of integrated tax solutions across a suite of disciplines.
“The tax environment for businesses both globally and domestically is increasingly complex and the combination of Greenwoods with PwC Australia’s market leading tax practice will ensure we can help our clients respond to these challenges including major reforms of the international tax system and increasingly complex compliance obligations.”
Managing Partner of Greenwoods, Manuel Makas said one of the key drivers for joining PwC Australia was the opportunity to be part of an extensive international network of firms and broaden the suite of services they can provide to their clients.
“Globalisation and technology are increasingly relevant to business, and joining with PwC Australia will enable us to offer our clients a broader range of services. We believe our combined offering will be truly differentiated in the market and our clients and our teams will benefit,” said Mr Makas.
Mr Morris said the 15 partners joining PwC Australia from Greenwoods are in addition to the internal partner admissions that occur each year. PwC Australia’s Tax Practice is set to achieve record admissions to the partnership in the 2021/22 Financial Year.
“The war for talent is hotter than ever before. That’s why we’re pleased to be bringing in 15 deeply technical and experienced partners and around 50 highly-talented staff to enable our business to continue to meet market demand and provide market leading tax advice,” Mr Morris said.