PwC

PWC SETS HIGH STANDARDS WITH COMPREHENSIVE APPROACH

PwC Middle East Entrepreneurial Private Business explains why it has been able to set high standards in the WealthBriefing awards programme.

Please explain what you think makes your firm successful in its chosen field.

At PwC we have a significant focus on family-owned businesses through our distinct practice under the PwC Middle East EPB & FO. We advise families in the MENA region by assisting them in organising themselves vis-à-vis structures, rules and processes as they navigate generational transitions and challenges pertaining to ownership, investment and governance.

Our holistic approach and value proposition cover three key areas and services targeting the private wealth and/or business of the family, namely (i) global wealth structuring, (ii) the “Owner’s Agenda”, focusing on both ownership strategy and business strategy and (iii) family office setups and optimisation. As a result of this comprehensive approach that spans from wealth preservation to wealth creation and optimisation, and our specialist expertise, we have assisted a number of family businesses, high net worth individuals, entrepreneurs and royal families across the region in relation to their private and business affairs..

What have been the main obstacles you had to overcome and how did you do so to reach this level?

One of the key challenges was transitioning our team members to a new organisation and platform being PwC. This involved adapting into a new culture, learning and applying a different strategy that is aligned with the firm’s overall strategy, maintaining client relationships whilst upholding the highest standards of ethics.

Global political and economic changes have had an impact on us advisors and our clients whether personally or through their business.

Though it does not come as an obstacle, previously we have focused on making clients aware by preparing them and their businesses for the new fiscal legislations in the UAE. These include the introduction of Corporate Tax and the introduction of BEPS Pillar two.

The post-pandemic economy and the geopolitical risks of the world today have caused immense pressure and impacted Client’s and their businesses. PwC Middle East EPB & FO team’s main challenge has been to ease the process for our clients and help them by accommodating and adapting to the global and regional developments.

How do awards such as this make a difference to your firm and your colleagues?

Such prestigious awards reflect our dedication to our practice and boost our company’s recognition which positively represents the work we do. Additionally, the Awards recognise the hard work and achievements of our EPB & FO team.

Winning an award comes with new connections and networking opportunities. We are immensely appreciative, and we hope this recognition will build awareness about our PwC Entrepreneurial Private business and Family Office team and the services we can offer in the region.

What does success look like to you – can this be measured in hard numbers, or in qualitative ways, or both?

Measuring success is always difficult, while numbers play an imperative role, it is not the only KPI that our team uses to measure success. We believe success is about being able to help our clients and participate in the safeguard and protection of their business, wealth or in some cases family relations.

We define success as the accomplishment of an aim or a purpose and stress the qualitative impact in what we do. It is highly rewarding when our clients come back to us for work or recommend us to peers.

ACCOUNTING PROVISION FOR WINNER SERVICING PRIVATE CLIENTS PwC Middle East Entrepreneurial Private Business & Family Office

ESTATE PLANNING SERVICE

WINNER PwC Middle East Entrepreneurial Private Business & Family Office

FAMILY OFFICE GOVERNANCE SERVICE PROVISION

WINNER PwC Middle East Entrepreneurial Private Business & Family Office