Consultancy firms see rise in poaching amid war for talent Al Gore firm, CapitaLand eye Radiance acquisition
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Top consulting companies are poaching from rival firms for newer skills and experienced hands, even as they lose some of their own bright minds to competitors. At a time of rising opportunities in artificial intelligence (AI) to business transformation and risk to digital advisory, a number of global consulting bluechips in India have seen top partners switch jobs and take up new roles.
In March, PwC hired Santosh Subramaniam from Accenture as partner, strategy and transformation; while KPMG hired Ankur Nishar, earlier director at PwC and later Price Waterhouse & Co. Llp, as partner in its deals and tax advisory practice. In December, KPMG hired EY’s Sneha Gharat as partner, deal advisory, infrastructure; in the same month, Chirag Agrawal from EY joined as head of corporate finance and investment banking at Deloitte South Asia.
All executives have updated the change on their LinkedIn profiles; PwC, Deloitte and Accenture did not respond to queries sent on Tuesday.
“The consulting market is dynamic, creating multiple opportunities for executives within and at times outside the firm,” said KPMG, which has 650 partners and practice leads. “With our strong bench strength, it’s only natural to lose a handful of executives to the industry that only reflects the quality of talent within the firm. We are constantly on the lookout for good talent, especially those with proven leadership skills,” a KPMG spokesperson said in an email.
Consulting companies are keen on hiring top partners, since they hold the potential to bring in additional talent from
Former US vice-president Al Gore-headed Generation Investment Management’s Just Climate Llp, and Singapore’s CapitaLand Investment Ltd are among entities exploring an acquisition of Radiance Renewables Pvt. Ltd, two people aware of the development said.
The sale of the Eversource Capital-backed company, which operates in the commercial and industrial (C&I) segment, may attract a potential equity value of about $300 million, the people said.
Non-binding offers (NBOs) are expected this month for the 100% stake sale of Radiance, which is backed by India’s quasi sovereign wealth fund National Investment and Infrastructure Fund (NIIF) and the UK government’s Foreign, Commonwealth Development Organisation (FCDO). Rothschild & Co. is running the sale process for the platform, which has a 500 megawatts (MW) operating portfolio.
“The NBOs are expected shortly,” said one of the two people on the condition of
FM Sitharaman at Mint India Investment Summit on 29-30 Mar FM Nirmala Sitharaman will deliver the keynote address at the Mint India Investment Summit & Awards being held on 29-30 March in Mumbai. Plus, a constellation of speakers from PE, VC, markets, defence, space and other domains will debate over the two days.
India’s core infra sectors clock fastest growth in three months The output of eight core infrastructure sectors, which account for two-fifths of India’s industrial output, expanded by 6.7% in February—the fastest pace in three months —as per data released by the commerce and industry ministry on Thursday.