Jessica Fino 14 Dec 2018 12:48pm

Richard Houston named new Deloitte CEO

Deloitte has announced its consulting managing partner Richard Houston will replace David Sproul as senior partner and chief executive at the firm next year

The Big Four firm said the former banker, who started his career at HSBC and Royal Bank of Scotland, will take over as CEO of Deloitte North West Europe (NWE) and the UK from 1 June 2019.

Houston joined Arthur Andersen in 1996 and became a partner in 1998. He was then appointed as a financial services partner at Deloitte in 2002. In 2015, Houston became managing partner of the firm’s consulting business.

Deloitte NEW combines operations in Belgium, Ireland, the Netherlands, Denmark, Finland, Iceland, Norway, Sweden, Switzerland and the UK. It employs 35,000 people and 2,000 partners.

Houston said, “It will be an enormous privilege to lead the firm as its next senior partner and chief executive, building on Deloitte’s established pre-eminent market position.

“Our clients and Deloitte’s own profession face an era of substantial change and challenge, and we’re committed to anticipating, managing and leading the response to this.”

Sproul is retiring after serving a maximum of two four-year terms as chief executive.

The outgoing CEO revealed last week that the firm has fired 20 partners over the past four years for inappropriate behaviour.

In a LinkedIn post following the revelation, Sproul wrote that, after eight years leading the firm he “had cause to reflect on some of the most significant changes that I’ve led or been part of during this time.

“I am proud to say that a shift towards being a more inclusive organisation is one of them. This hasn't always been straightforward, and at times has needed decisive action to manage inappropriate behaviour, ” he added.