PwC to double Middle East team over coming five years

24 June 2021 3 min. read
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Big Four firm PwC has announced ambitions to create 6,000 jobs in the Middle East, as part of multi-billion-dollar global expansion scheme. The five-year plan will see the firm focus on meeting digital, emerging technologies and ESG demand in particular.

Over the last five years, PwC invested $7.4 billion to support its strategy, helping the firm grow its global revenues by 20% to $43 billion. Now, as it looks to build on this momentum, the audit and advisory giant has doubled down on its own strategy, launching a new $12 billion drive including the addition of 100,000 new people to the firm by 2026.

The planned net growth will represent a headcount increase of more than one-third, and includes a notable enhancement of PwC’s Middle East presence. PwC has had offices in the region for four decades now, and operates across 12 countries in the region with a headcount of around 6,000 people.

PwC to double Middle East team over coming five years

Over the next five years, however, the firm plans to double this footprint, recruiting more than 500 new graduates every year, and providing them with training and qualifications that sets them up for a strong career in the region.

Hani Ashkar, PwC Middle East Territory Senior Partner, remarked, “We are bringing the best of our people, capabilities and technology together to support our clients in building trust and delivering sustained outcomes for their businesses and society. The most important challenges faced by clients and stakeholders can only be met through multi-disciplinary, diverse teams.”

To deliver on the firm’s augmented focus on digital and emerging technologies, PwC will further invest in strategic acquisitions and in the development of solutions.

Adding to this, the firm will create an ESG Centre of Excellence in the Middle East, focused on energy transition and the broader environmental, social and governance agenda. “We are proud to be part of the region's transformation journey, and supporting governments and businesses in addressing broader societal issues, such as the digital divide, the growing need for upskilling and climate change,” said Ashkar.

The investment will also see the Big Four firm further its existing commitment to promote inclusion and diversity. Half of the new intake will be female, while 80% of the new hires will be Arabic speakers.

In turn, the firm will continue to upskill its new and existing staff, to help build a community of problem solvers in the region, with the right skills to deliver human-led and tech powered solutions for some of the Middle East’s most pertinent challenges.

Bob Moritz, Global Chairman of PwC said of the new strategy (‘internally known as ‘The New Equation’): “The profound changes in the world mean that to succeed, organisations need to create a virtuous circle between earning trust and delivering sustained outcomes. By bringing our unique combination of capabilities together, and matching it with serious investment and our commitment to quality, we can help them do that. In doing so, we will help clients unlock value for shareholders, stakeholders and wider society.”