Teneo expands global operations through PwC Australia acquisition

Teneo has initiated its Financial Advisory operations in Australia by acquiring PwC's Australia Business Restructuring Services unit. This strategic move has introduced around 80 professionals into Teneo’s workforce, enabling it to create a notable presence in the Australian marketplace.

The newly formed Financial Advisory unit is intended to enhance Teneo’s existing strategic communications business in Australia and expand its reach within the Asia-Pacific region. Plans are underway to establish a new office in Brisbane, along with plans to bolster activities in existing locations such as Melbourne and Sydney.

Following the acquisition, Stephen Longley, the former leader of PwC's Australia Business Restructuring Services team, will now serve as the Head of Financial Advisory Australia, reporting directly to Daniel Butters, CEO of Teneo's Financial Advisory division. Teneo's CEO, Paul Keary, acknowledged Australia’s economic diversity and indicated that the acquisition aligns with the company’s growth strategy in the Asia-Pacific market.

Daniel Butters noted the team's strong reputation and indicated positive prospects for further development within the Australian and broader Asia-Pacific regions. Longley affirmed the commitment to achieving client success while expanding the team’s capabilities. This expansion aligns with Teneo’s strategy of enhancing its advisory services across significant markets.

Since its acquisition of Deloitte's UK restructuring business in 2021, Teneo has expanded its workforce to nearly 600 professionals globally, specializing in corporate insolvency and business transformation services.