Ketan Dalal Quits PwC, to Start Advisory
Mumbai: Ketan Dalal, western regional managing partner with PwC India and one of the top tax advisors in the country, resigned from the firm on Monday. Dalal, who quit PwC after almost a decade, will start his own boutique advisory firm.
Bimal Tanna, a deals partner based in Mumbai, is set to replace Dalal in the latter’s role as western re- gion managing partner for PwC.
Dalal, a senior tax partner with PwC joined the firm in 2007 with tax stalwart Dinesh Kanabar after PwC merged with Indian firm RSM.
In 2009, PwC saw a huge exodus after Kanabar resigned to join KPMG. Dalal, along with Shyamal Mukherjee, replaced Kanabar to head PwC’s tax and regulatory practice.
Dalal was also one of the senior partners at PwC and an integral part of the senior leadership team that helped stabilise the firm after the Satyam fiasco in 2009. In 2016, Mukherjee won an internal election and replaced Deepak Kapoor to be- come PwC India’s chairman.“Ketan wore many hats from co-leading our tax practice to being the west region managing partner. Ketan is already supporting Bimal Tanna, partner PwC, to transition into the west regional managing partner role,” said Mukherjee.“I will continue to be associated with PwC in an advisory role for some more months,” Dalal said. He is set to start his advisory firm from April 1 after serving his last day in PwC on March 31.
The tax advisory practice in India is mainly divided between advisory firms, including the big four—PwC, Deloitte, KPMG and EY—and some other niche firms like BMR, Dhruwa among others.
“Tax advisory is a personality-driven business and clients tend to put their trust in a person. Most of the firms, whether inside the big four or outside, are run by individuals who have huge equity,” said the managing partner of a rival firm.
FRESH VENTURE: Ketan Dalal