PwC Malaysia and PwC US have teamed up to open a new acceleration center in Kuala Lumpur to provide PwC clients with the best talent from all parts of the world via its global network. According to PwC, the center is envisioned to be a truly cross-functional operation with capabilities across consulting, assurance, tax and business service. In the initial stages of operations, the center will primarily support the needs of PwC clients in the US through assurance services.
In the later stages, over the next five years, the center is set to expand its competencies across the entire breadth of the firm’s portfolio and grow to over 1,000 professionals, creating job opportunities for digital and tech-savvy talent in Malaysia.
The new center in Kuala Lumpur will join PwC’s rapidly growing acceleration center community of digitally enabled professionals from diverse nationalities, cultures, and competencies located around the world. PwC acceleration centers are claimed to be global talent hubs that bring together diverse, highly skilled talent to work on complex client engagements. Using the latest digital technologies to collaborate with global teams, the center delivers services in an agile and efficient fashion, while creating a differentiated experience for clients, the firm said.
“The new acceleration center in Kuala Lumpur is a key component in driving our global strategy, ‘The New Equation’, by bringing human-led and tech-enabled strategies together to help build trust and deliver sustained outcomes for our clients and communities. The new center marks the beginning of a new chapter in the growth of PwC’s practice in Malaysia, and is an investment to strengthen our competitive edge in the market and burnish the PwC firm in Malaysia,” Soo Hoo Khoon Yean, managing partner, PwC Malaysia , explained.
Yean added that the decision to open an acceleration center in Kuala Lumpur is a strategic one for PwC, due to the capital’s business-friendly environment, cost-competitive location, and the depth and breadth of highly skilled talent. In addition, he explained that acceleration center Kuala Lumpur allows the firm to support the national agenda to develop a resilient and highly skilled workforce by creating employment opportunities to attract top talent through the emerging STEM ecosystem in Malaysia and Southeast Asia.
Hari Kumar, PwC acceleration center leader, said: “Our new acceleration center in Kuala Lumpur will support the growth of our global talent footprint in the Southeast Asia region to serve clients more efficiently while delivering greater value. We believe that Acceleration Centers build and grow their value when we make systematic investments in people.” Kumar explained that through its centers in Kuala Lumpur and around the world, its people will have the chance to engage in challenging projects, develop deep technical acumen, and help clients solve their most important challenges by providing differentiated services underscored by quality and innovation.
Meanwhile, as part of the firm’s “The New Equation” expansion strategy, PwC created 20,000 new jobs in China, doubling its China workforce as part of its US$1.25 billion investment. Currently, PwC offices are in major Chinese cities, including Beijing, Shanghai, Guangzhou and Shenzhen, in addition to operations in Hong Kong and Macau. The investment allowed PwC to enhance service offerings to clients in the areas of environmental, social and governance standards and digital transformations.
As for “The New Equation”, the strategy is focused on building trust and delivering sustained outcomes. According to PwC, it is currently creating 100,000 net new jobs to expand its capabilities to help clients respond to the expectations of their stakeholders and society. In addition, PwC is also working on creating leadership institutes, with the first one headquartered in the US, empowering more than 10,000 C-suite leaders, executives and board members to build trust.
Additionally, for the Singapore market, PwC Singapore has invested SGD$50 million to launch an ESG Center of Excellence to build up capabilities in environmental, social and governance. The company is hiring for over 300 positions for its Singapore operations this year, across a wide range of competencies and experiences. Additionally, PwC also targeted to admit 10 new partners annually, including new market hires.
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