Deloitte moves into real estate with Drivers Jonas acquisition

25/01/2010 Deloitte moves into real estate with Drivers Jonas...

Property advisory firm Drivers Jonas has been acquired by audit jobs provider Deloitte to form a new real estate group.

Drivers Jonas Deloitte will consist of around 700 partners and property professionals from the two companies and will allow the accountancy firm to expand its position in the real estate market.

John Connolly, senior partner and chief executive of Deloitte, believes that the £2 billion real estate advisory industry will provide many opportunities for growth in the coming years and is expecting combined annual revenue to top £100 million.

"We see a clear opportunity to combine the skills of our specialists in tax, corporate finance, business consulting and our real estate strategy team with the Drivers Jonas team, which has an outstanding reputation for providing the highest quality independent advice in this market," he explained.

Deloitte will take on over 650 of Drivers Jonas's staff in the move.

The Big Four professional services firm already employs tens of thousands of people in its consulting, financial advisory, risk management and tax services departments.

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