Deal will see 22 PwC employees join the advisory firm, marking another step in Teneo's Asia-Pacific expansion following its acquisition of PwC Australia's similar unit last year.
CEO advisory firm Teneo has announced an agreement to acquire the Business Restructuring Services (BRS) unit from PwC New Zealand. The transaction will move a 22-person team, including three partners and an executive director, from the Big Four firm to Teneo's growing Financial Advisory business.
The deal is expected to close at the end of February 2026 and is subject to customary closing conditions. The team, which includes partners John Fisk, Richard Nacey, and Stephen White, along with Executive Director Malcolm Hollis, will report to Daniel Butters, CEO of Teneo’s Financial Advisory business. John Fisk will serve as Teneo's Head of Financial Advisory for New Zealand.
This acquisition continues a clear expansion strategy for Teneo in the Asia-Pacific region. It follows a similar transaction in July 2025, when Teneo acquired PwC Australia’s Business Restructuring Services unit.
"Today’s acquisition is another important milestone in our global growth and the build out of Teneo’s offering across Asia-Pacific,” said Paul Keary, CEO of Teneo. "We are deeply committed to continuing to invest in the region."
Daniel Butters added that the firm sees "significant opportunity across the region for a critical events advisor of scale" and noted the momentum gained from the Australian expansion last year.
For PwC New Zealand, the sale represents a strategic shift. Andrew Holmes, the firm's CEO, stated that the divestment allows PwC to sharpen its focus on other priorities.
“PwC remains focused on advancing our clients’ ambitions in AI and business transformation, while strengthening trust," Holmes said. "With the deep expertise of our Advisory, Assurance, and Tax & Legal teams, we are committed to supporting their success.”
Following the acquisition, Teneo will have more than 1,800 employees globally, with its Financial Advisory practice comprising nearly 650 professionals.
SOURCE: Teneo
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