Firm closes in on Australian risk advisory market

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One of the big four global accounting firms has announced the acquisition of advisory firm Asia-Pacific Risk Management, which has Australia in its sights.

PricewaterhouseCoopers (PwC) has acquired Asia-Pacific Risk Management (APRM), propelling PwC towards becoming the number one provider of Treasury Risk Management advice in New Zealand.

Speaking to New Zealand’s National Business Review, APRM principal Roger Kerr Kerr said: “To transfer our intellectual property and grow our business from the New Zealand testing-bed to companies in Australia and Asia, we concluded we needed a major advisory name behind us to open the doors.

“PwC's current New Zealand financial risk/treasury management advisory services rather nicely complement our own.”

Established in 1998, APRM specialises in developing policies and methods for proactively managing currency, interest rate and commodity price risks, as well as debt and funding risks for larger borrowers – for both private and public sector entities. 

Kerr, along with fellow APRM principals Stuart Henderson and Brett Johanson, will become PwC partners on 1 October. Kerr and Henderson themselves acquired APRM from Deutsche Bank in 2001, with Johanson joining as an owner/director three years later.

Echoing Kerr’s statement, Henderson too believes the opportunities going forward are considerable:

“The time is right to become part of the Global PwC network and leverage the capabilities of New Zealand’s leading professional services firm, to deliver fuller treasury solutions to our clients as they themselves expand globally.”

PwC New Zealand CEO Bruce Hassall added that the acquisition of APRM and its team was “a perfect fit with our PwC value proposition and strategy”.

The APRM team is currently engaged in a diverse range of financial risk management and corporate treasury advisory assignments for 115 organisations in New Zealand, both private sector and public sector entities, explained PwC partner Paul Skillender.

“Combining with PwC means those clients will benefit from our global network of firms and the ability to leverage any opportunities as they themselves expand globally."

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