New York-based accounting and consulting firm Deloitte will acquire Sydney-based financial services consulting firm Rice Warner, the two companies said Thursday.
Terms of the deal, effective May 1, were not disclosed.
Rice Warner's team, with 26 professionals, will strengthen Deloitte's business in a number of Australian financial-services sectors, including superannuation funds — where fast-paced growth, consolidation and disruption offer significant opportunities to provide advice, Ellen Derrick, Sydney-based managing partner, consulting at Deloitte, said in a telephone interview.
Andrew Boal, Rice Warner's CEO, Stephen Freeborn, the firm's head of superannuation, and Jennifer Baxter, its executive general manager insurance, will become Deloitte consulting partners, according to the news release. Founder Michael Rice, meanwhile, will join Deloitte in a consulting capacity.