The 67 new internal partner picks were “huge” compared with the firm’s usual figure of about 30 promotions in January, CEO Tom Seymour said.
Mr Seymour conceded that Australia would likely be in “a relatively high-inflation environment for the medium term”, but that the downturn actually spurred demand in some services areas and helped drive the record promotions.
“We hear about that again at the country level, but companies are doing that. So, companies are looking at redesigning supply chains so they’re not overly reliant on any one country.” “If you look at major transactions in the market from the energy transition – where assets are changing hands, huge capital investment in systems and processes, development of new industries like critical minerals – [it] is going to record a huge amount of work.”Most large consulting firms in Australia now have dedicated climate change or energy transition practices as they seek to cash in on this boom. Big four firm EY was the first major mover in the space, but its rivals have since followed.
“Building skills is better than buying skills,” he said, noting that this approach had a domino effect on promotions for more junior staff.
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