Deloitte picks up PwC’s organisation in Sri Lanka and Maldives

09 October 2023 2 min. read

Deloitte has expanded its business in Asia Pacific with the strategic pick up of PwC’s former members in Sri Lanka and the Maldives.

As part of the expansion – which includes a shift of 18 new partners and 500 local professionals – Channa Manoharan has been named as country managing partner for Sri Lanka and the Maldives, with Gerard David to serve as deputy.

“Not only is this another extraordinary boost to our South Asia region, it is also a wonderful demonstration of our purpose in action in the best possible way, particularly in Sri Lanka, a country that has been through a lot but is now undergoing an economic revival and poised for a resurgence,” stated Deloitte Asia Pacific CEO David Hill.

Deloitte picks up PwC’s organisation in Sri Lanka and Maldives

According to the news agency Reuters, Deloitte now has a regional headcount of 28 partners and 800 staff, overnight becoming the second largest professional services firm in Sri Lanka behind KPMG. The deal will also see Deloitte expand beyond its traditional audit focus in the country to offer greater advisory services, a source told the publication, especially with respect to technology consulting.

“Deloitte is bullish about the economic growth of Sri Lanka and Maldives in the South Asia region,” said Romal Shetty, who was recently appointed CEO of Deloitte South Asia. “We eagerly anticipate the positive impact our enlarged team will have on our organisation as we move forward.”

“This is a transformative chapter in our history in Sri Lanka and the Maldives and marks a strategic leap forward,” Shetty continued.

PwC had earlier confirmed its current exit from Sri Lanka, with newly-appointed Deloitte leaders Nishan Mendis (consulting), Mayura Malagala (strategy & analytics), Ruvini Fernando (financial advisory services), Haresh Perera (enterprise technology & performance), Thivanka Jayasinghe (audit & assurance) and Zahra Caderr (government & public sector) among the former PwC partners and veterans to cross.

Manoharan spent altogether more than two decades in strategic consulting at PwC after starting his career as an assistant manager at Ernst & Young, while David also brings 20-plus years of experience in financial advisory including in the areas of restructuring and mergers & acquisitions.

“Channa and Gerard are exceptional leaders and I have confidence that they, along with our partners and professionals, will be the driving force behind our ongoing growth and success in the two countries,” stated Shetty.

Speaking on his new role, Manoharan stated; “I am truly humbled to lead an outstanding team of partners and professionals working together to deliver top tier services that address our clients’ most crucial and complex issues during a time of rapid transformation and recovery in the economy. I am also excited about the regional and international opportunities we will be able to provide for our talent in the firm.”