Tag: Poaching

PwC Is Still Looking For (Other Big 4’s) Talent

We didn’t say poaching. But if we did say poaching, we’d also mention PwC is pretty damn good at it.

A non-PwC but Big 4 tipster shares an unsolicited email received on LinkedIn. Names have been redacted to protect the innocent (and guilty):

Significant Audit Opportunity with PwC in Chicago!
Dear ______,

Hello! I took some time to review your profile and felt that it would be mutually valuable for us to connect. I am a the manager of the talent acquisition team for our Assurance group at PwC, and we are currently experiencing substantial growth in this area across the US. In fact, our Chicago region ranked # 1 out of 6 markets with respect to growth in 2010.

Therefore, I’d appreciate the opportunity to set up some time with you to have a dialogue around industry and marketplace trends and PwC’s current expansion plans.

Even if you are not currently exploring outside opportunities, I would welcome the chance to network with you. Alternatively, if you know of anyone else who is open to considering new ventures, please feel free to pass on my details. With all the changes going on in the industry, especially at PwC, it’s always good to do a little information gathering.

Please feel free to contact me, or _____, Experienced Recruiting Associate – Assurance, at________ or at _______.

I look forward to hearing from you.

Is it just me or is “a little information gathering” a totally creepy proposition? And really?! “Significant” position? That’s the best they could do? I’m sorry but if I were a Big 4 grunt happy with my employer, it would take more than “significant” to get me to double cross them by abandoning them for the enemy.

Of course, this teaches those of you miserable in your current positions that it is important to have an updated LinkedIn presence that will draw in those anxious recruiters in like flies to Caleb’s armpits after a marathon yoga session.

Go get ’em, PwC!

PwC Lands Another KPMG Partner; Steven Tseng Joining Transfer Pricing Practice

This just in – more competitive poaching from P. Dubs.

PwC US announced today that Steven Tseng has joined PwC US as a partner in the firm’s Transfer Pricing practice. Tseng will relocate to China in June to focus on helping multinational companies with their transfer pricing planning in China and the Asia Pacific region. Tseng will also take the lead role for tax and transfer pricing planning for companies seeking to transform their value chain globally, in particular in Asia.

Tseng joins the firm from KPMG, where he was the Asia Pacific Regional leader for Global Transfer Pricing Services (GTPS) as well as the partner in charge of GTPS in China and Hong Kong. Prior to this role, Tseng was partner in charge of Financial Advisory Services for KPMG in Finland.

This latest pickup follows the firm snagging Tom Henry last month. Rumors have it that there will be more but the question is, who’s next? John Veihmeyer? Keep us updated if you hear anything.

PwC Picks Up Thomas Henry from KPMG; Will Lead Global Incentives Practice

This could be what PwC’s Talent Leader was talking about she said that poaching, “[Has] always been a place we like to stay competitive.”

Mr. Henry, a tax partner who has spent more than 25 years in public accounting, most recently at KPMG, has extensive experience in all areas of state and local taxation. He is best known for his work in the credits and incentives space, both domestically and worldwide. His experience in maximizing global incentives for large multinational corporations in the United States, Europe, Asia and Africa will enable both US-based and non-US-based multinational companies to benefit from his counsel when entering into economic incentives negotiations.

Thomas Henry Joins PwC US To Lead Global Incentives Practice [PR Newswire]

PwC Talent Leader Talks 2011 Hiring Spree, ‘Competitive’ Poaching, Autumnal Hues

As we’ve discussed, Big 4 firms are doing their part to marginally improve the frightening national unemployment number by embarking on epic hiring bonanzas in the coming years. FINS reporter Kyle Stock ran down Paula Loop, PwC’s Global and U.S. Talent Leader to find out the details on the firm’s plans and here are a few highlights:


Starting off – if unemployment doesn’t improve by 2012, Obama won’t be able to blame PwC:

KS: It seems like the firm is always hiring, how does that 45,000 compare with 2008 and 2009?

PL: It’s certainly higher than it has been in recent years. For the US, we’re hoping to hire around 10,000 this year. Those numbers are about 60% higher than they were for 2009 or 2010. About 6,000 of those are campus hires and 4,000 are on the experienced side.

Rumors of our acclimating to social media at a snail’s pace have been greatly accurate but only because we were waiting for The One:

KS: When PwC announced the LinkedIn [partnership], some articles said PwC has been slow to embrace social networking — is that accurate?

PL: Well, we were waiting for the right place at the right time. LinkedIn was a really good match for us.

Poaching, on the other hand, we’re all over that:

KS: I always try to ask about poaching. Is PwC hiring from competitors much these days?

PL: Because I think we are hiring more people, there’s more activity there. That’s always been a place we like to stay competitive.

Once you land those people, how do you keep them? Well, it helps if you come to grips with the fact that the last week of the year is pointless and you tell everyone to stay home. Secondly, you replace the old swag:

KS: Is PwC doing anything new to increase retention?

PL: We’ve had some great stuff on the retention front. We had an annual shutdown between Christmas and New Year’s where we closed our firm. That’s a terrific thing for us. I can tell you, you really get a chance to disconnect. Not only are you on vacation, but no one else is working. It gets people rejuvenated.

And we’re always doing stuff. Our new brand was a really great and exciting thing. We all have new bags for our computers that have our new colors for the new brand.

Right, the new brand! That was exciting. Sure, there might have been some kvetching at first but now that everyone has calmed down it’s really what makes us different from other firms:

KS: So how does the culture differ from a company like Deloitte?

PL: It’s hard for me to say on that, because I haven’t been a part of their culture, but I would say our new brand launch this fall really defines our culture. The colors are really vibrant and warm. We took that really long name and shortened it up. Our new logo can be really animated. I think that’s really what we’re trying to bring out in our culture.

PwC’s Paula Loop on Hiring 45,000 and the Firm’s Big Change [FINS]

Stephen Schwarzman Has Got Himself a Pretty Loyal CFO

Question: Who says “no” to Apple when offered a job? Answer: Blackstone Group CFO Laurence Tosi.

And what does one do when you commit an act of such allegiance? You tell the boss, natch:

Apple Inc. approached Blackstone Group LP Chief Financial Officer Laurence Tosi to become its finance chief, three people with knowledge of the matter said.

Tosi told Blackstone CEO Stephen Schwarzman that he plans to stay, rather than join Apple, said two of the people, who asked not to be identified because the talks were private.

The ‘Berg reports that because Apple has cash burning a hole in their pocket, they may be looking for a CFO who has acquisition experience and in case you haven’t heard, that’s sorta what Blackstone does. Apple gave the classic “non-denial denial” telling Bloomberg that they are “not conducting a CFO search,” and Pete “loves the company and is extremely happy in his role.”

But that doesn’t make him Laurence Tosi, does it?

Grant Thornton Employees in Chicago Feeling the Heat to Join Big 4

After reporting rumors that PwC was chasing Deloitte seniors in Chicago, now comes another report out of the House of Chipman:

Is it just me or is pwc trying really hard to bring in seniors in Chicago? The other day at GT, the same pwc recruiter called every S1 in audit asking if we’d be interested in moving over.

A few of us actually answered just to see what he had to say and he was pushing real hard in getting people to accept that if we made a move, we’d have to take a step down (S1 to move over to A3), and that they’d be making a large investment in keeping us long-term (at least through a promotion to manager). This is after we lost a S2 and an A2 who both moved to pwc. Plus, we’ve received several emails from other outside recruiters gauging our interest in the Big 4, not to mention my friends at the Big 4 trying to get me to send them my resume so they can refer me (for a much larger referral bonus, I’m assume). Not sure if this is juicy enough information, but that’s pretty much what’s happening right now over at G to the T.

Here’s the deal people – all the firms need people at the Senior Associate level. All the firms have made it known that they are hiring aggressively, both experienced and entry-level employees and the recruiters within the firms have jobs too. Besides, where are they supposed to look for the appropriate talent to fill their empty positions? Dunkin’ Donuts?

Grant Thornton, believe or not, has plenty of talented people and the Big 4 will take those people if they can get them. Management probably gets tired of all the bellyaching by employees about how short-staffed they are so the pressure is on the recruiters to get asses in the seats.

If you don’t want to be hassled by Big 4 recruiters, simply say, “I’m not interested, thanks,” and go on your merry way. But judging by all the complaining at GT, lots of employees are probably happy to entertain some options.

Unfounded Rumor of the Afternoon: PwC Courting Deloitte Employees in Chicago, New York

From the mailbag by way of a Deloittian in Rahmville:

[O]ur PPD (Principal, Partner, Direct) group has received word that PWC is going to send recruiting letters to every [Financial Services Industry] senior in the Chicago and New York offices. Apparently the letter states PWC is willing to offer $15,000 more than what Deloitte is paying.

The PPD group had a meeting with all of the FSI managers in Chicago yesterday regarding this situation. On top of that, all Seniors in FSI received a meeting request today from the PPD group. The meeting is schedule for Monday morning and according to the managers, the topic of dicussion is going to be these letters. Now I can’t speak for anyone in New York but in Chicago the PPD group is not taking this lightly. Word as it that one of our senior ranking partners actually called over to PWC. Again this is all a rumor, I have not seen one of these letter but apparently one of our partners said he/she has.

If you happen across this letter, do share it with us.

Earlier:
Experienced Recruiting Amongst The Big 4 Gets Aggressive

Experienced Recruiting Amongst The Big 4 Gets Aggressive

As you know the Big 4 are extremely competitive when it comes to picking up talent. Now that the firms have amped up their experienced hiring, things appear to be taking an interesting turn.

Case in point, the following email went out to PwC professionals in the Southeast:

Hello. I work for Ernst & Young’s Assurance Recruiting Team and, through my networking, came across your name. I was wondering if you would be interested in making contact for professional networking purposes.

We are currently seeking managers and senior managers in our Southeastern markets. Your referrals would be greatly appreciated as you know the best people in this industry! We are expanding our Assurance Experienced talent pool and look forward to hiring only the best and brightest talent!

There are twelve more reasons to consider EY as a strong career option!! Ernst & Young was just named to FORTUNE’s “100 Best Companies to Work For” list for the 12th year in a row–and ranked highest among the global professional services organizations. The reason? Our people. Together, we’ve created a culture of learning, flexibility, inclusiveness and community responsibility that truly makes a difference.

I have been a finance/accounting recruiter for six years and assure you that not all Big 4 firms are cut from the same cloth……it never hurts to have a dialogue!!!

Thanks in advance for your time and consideration. Have a wonderful summer!

Say what you want about these particular tactics but if there is a need in a particular office or region, it is Big 4 recruiters’ job to go out and find the talent to fill that demand. Other Big 4 firms seem like a pretty good place to start since they have the “talent” that the firms want. Plus, the email does state that the intent of the message is to “open a dialogue” which, sure, could lead to someone switching firms but let’s be real – this happens.

And don’t forget! This isn’t confined to Dixieland. You may recall that PwC in the UK had been allegedly poaching E&Y partners, as reported by the Times Online.

So if you want to get all defensive about a rival firm going behind enemy lines to do their jobs, so be it, but your firm is likely doing the exact same thing.

Earlier:
Grant Thornton Picks Up Four Tax-Exempt Experts from WTAS