PricewaterhouseCoopers’ CEO Calls for Responsible Leadership
Shanghai, 20 June 2007 – PricewaterhouseCoopers (PwC) Global CEO Sam DiPiazza said the firm is committed to developing more local Chinese talent and to supporting the accounting profession in China, following an announcement today that PwC has appointed 55 new partners for its mainland China and Hong Kong practice.
"Every year PwC is proud to announce the admission of new partners, an important mile stone in the career of an accounting professional,” said Mr. DiPiazza at a press briefing in Shanghai. “This year, we are happy to see that 40 of the new partners are from mainland China and 15 from Hong Kong. It’s a significant step in our localisation strategy -- and a measure of our success in attracting local talent."
The appointment of the new partners brings the number of partners in mainland China and Hong Kong firm close to 330, with total staff strength of 8,000.
“People are our most valuable asset,” noted Mr. DiPiazza. “After establishing our business in China more than 100 years ago, PwC understands that sustainable growth depends on our ability to attract, retain and motivate the best talent.”
Among the newly appointed partners more than half joined PwC as college graduates, explained Mr. DiPiazza, adding that this is testimony to PwC’s success over the years in developing a culture that respects, trusts, cares for and takes pride in its staff.
At the press briefing, Mr. DiPiazza spoke at length at about what he sees as the core challenge for multinational service companies in China: talent management.
When asked whether financial incentives alone could be used to retain talent within an organisation, Mr. DiPiazza responded that they are important but not sufficient to keep people happy and productive.
“Work needs to be meaningful and employees need to know they share the same values as the company to feel they are making a difference,” he said, noting that a good example of PwC ’s values is the effort to treasure and build on the diversity within the firm; a measure of this diversity is the fact that 36 percent of this year’s new partners in mainland China and Hong Kong are women.
Finally, Mr. DiPiazza said to attract and retain local talent, PwC is committed to taking an active role in building a sustainable business, one that creates long-term value for clients, people and the stakeholder community within which it operates.
“This is why it is so important that future leaders in the firm understand and embrace not just the techniques of leadership, but also the complex responsibility that comes with it,” he said.
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Note to Editor:
- About PricewaterhouseCoopers – Globally
PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 140,000 people in 149 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
“PricewaterhouseCoopers” refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
- About PricewaterhouseCoopers – mainland China, Hong Kong, and Macau
PricewaterhouseCoopers is the leading professional services organisation in mainland China, (www.pwccn.com), Hong Kong (www.pwchk.com), and Macau with a total staff strength of 8,000, including close to 330 partners. Our offices in mainland China comprise: Beijing, Chongqing, Dalian, Guangzhou, Qingdao, Shanghai, Shenzhen, Suzhou, Tianjin and Xi’an.
Complementing our depth of industry expertise and breadth of skills is our sound knowledge of the local business environment in mainland China and Hong Kong. PricewaterhouseCoopers is committed to working with our clients to deliver the solutions that help them take on the challenges of the ever-changing business environment.
The name PricewaterhouseCoopers is one word, with uppercase P, uppercase C, and all other letters in lower case.
