Saturday, November 25, 2006

Deloitte Announces on Establishing Caribbean/Bermuda Cluster

Deloitte Touche Tohmatsu chief executive William G. Parrett in the middle of October has reported that six Deloitte member firms have intention to join together to create Deloitte Caribbean/Bermuda. The announcement was made at the inaugural Deloitte Global Forum in Buenos Aires, Argentina. The above-mentioned members of Deloitte, which is globally known auditing and professional services firm, are located in the Bahamas, Barbados, Bermuda, the British Virgin Islands, the Cayman Islands and Jamaica. The plan for the cluster of offices has the purpose to strengthen their position in the Big Four firm's Americas region, while expanding opportunities for growth.

Creation of this structure followed the establishment of Deloitte LATCO that includes member firms from Latin American Countries, and Deloitte ASEAN containing member firms from Singapore, Malaysia, Indonesia, Thailand, the Philippines and Guam. Deloitte Caribbean/Bermuda will include more than 30 partners and 600 professionals and will be leaded by Frank Paredes, the audit and risk regional managing partner of Deloitte Latin America/Caribbean. Daily operations will be conducted by the managing partners of existing member firms.

Frank Paredes said that the structure would help reduce many of the difficulties connected with coordination of service activities across borders by separate member firms, and that Deloitte Caribbean/Bermuda plans to expand operations to other countries of the region.

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