PricewaterhouseCoopers (PwC) has strengthened its family wealth business by acquiring Pointmade, a family office business of David Smorgon.
Post acquisition, Smorgon has assumed the role of executive chairman at PwC’s family, business and wealth practice.
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He has been serving PwC for the past year in the capacity of a consultant after Pointmade and PwC struck a strategic alliance.
PwC private clients leader David Wills stated that the takeover was in response to increased client demand for family business services.
"David’s appointment as executive chairman of our Family, Business and Wealth practice further demonstrates PwC’s commitment to supporting the family business sector. We’re delighted to have David Smorgon on board with PwC," Wills added.
"We’re investing heavily in building a unique skill, with a national team now working closely with David Smorgon to deliver a distinctive and innovative values-based approach to managing the ‘family’ side of family businesses."
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