(Reuters) -Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region.
Under the deal, about 80 members of PwC’s Australia business restructuring services team will join Teneo and will provide wide range of financial services in the country, including expertise in local and international restructuring and insolvency situations.
Stephen Longley, who has led PwC’s Australia business restructuring services team for the last four years, will become head of financial advisory Australia at Teneo, according to a company statement.
“We see significant opportunity both in the…