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Management buyout for BearingPoint EMEA
 
 BearingPoint has entered
into a definitive
agreement with its
European management team
for the sale of the
company’s Europe, Middle
East and Africa (EMEA)
practice for an
aggregate purchase price
of approximately $69m.
  
   Under the terms of		 
 this agreement,
BearingPoint’s EMEA
practice will become a
legally-independent
entity owned by EMEA
management and operated
as one single
partnership. Peter
Mockler, executive vice
president of
BearingPoint EMEA, and
his management team will		 
  
   
 
 
 
 
 
 
 
 
 that will aid in the
successful transition of
the practice through
this process. In
addition, the practice
will continue to operate
under the BearingPoint
brand and will benefit
from existing brand
equity and awareness.
  
   “We are confident		 
 that this is the best
path forward for our
clients and employees,”
said Mockler. “The EMEA
leadership team and I
are dedicated to the
success of the practice
and remain steadfast in
our commitment to
serving our clients.” 		 
 remain in place,
providing leadership
stability and continuity		 
 
Deloitte UK revenues down 2%
 
 Deloitte has reported
business performance in
the UK for the year
ended 31 May 2009 with
net revenues (billings
excluding client
disbursements) reaching
£1.7bn, the same level
as in the previous year.
   		 
    “Overall business
performance was
satisfactory in
extremely tough
markets,” said John
Connolly, Deloitte
senior partner and chief
executive.
  
   The audit and		 
  
   
 
 
 
 
 corporate finance.
  
   The net profit
distributable to
partners was £601m, down
6.1% on the previous
year. The average profit
per partner fell by 7.5%
to £883,000.
   		 
    The number of people
employed by the firm in
the year averaged
11,500, 1.7% higher than
the prior year. The
total compensation paid
to each employee
increased on average by
5.4% per person.		 
 consulting divisions saw
net revenue growth of 7%
and 3% respectively,
while net revenues were
down 7% in tax and 9% in		 
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