The PricewaterhouseCoopers (PwC) International Network has named Robert Moritz (Bob Moritz) as its new chairman, replacing Dennis Nally.

Moritz will serve as chairman for a term of four years. Nally will step down from the firm in June 2016 after a 42-year career with PwC.

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Moritz, who joined PwC in 1985, became a partner at the firm in 1995 and also led PwC US as its chairman and senior partner since 2009.

He also worked for three years with PwC Japan, where he provided audit and advisory services to European and US-based financial services firms operating in Japan and across Asia.

Moritz also held several leadership roles within PwC, including leading the US Assurance practice as well as serving as the managing partner for the New York region.

The firm said that Moritz successor as US chairman will be announced later in 2016 after an election.

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PwC Global Board chairman John Maxwell said: "During his tenure in the US, Bob’s outspoken support of work-life flexibility for the firm’s people, the importance of diversity on his own team, and the significant investments he has overseen in new and cutting edge technologies make him the ideal forward-looking leader to navigate the global economy and bring our best ideas and solutions to clients."