PwC senior partner to exit firm after 26 years

PwC will see the retirement of Robert Silverwood at the end of this financial year as he revealed his intentions to step down from the management leadership team.

At the end of the financial year in June, Silverwood’s resignation would be effective immediately.

PwC told Accounting Times that Silverwood would focus on facilitating a smooth transition and handover period before his time at the firm ended.

“After more than 26 years at PwC, Rob Silverwood has decided to retire from the partnership at the end of the financial year, and step down from the management leadership team, effective immediately,” PwC said.

“Across the next few months, Mr Silverwood will continue to finalise and transition his important client work, providing a smooth handover.”

In a story written by The Australian Financial Review, the announcement of Silverwood’s resignation came after the outlet had linked him to a breakaway mergers and acquisitions consulting firm funded by private equity.

In his resignation, Silverwood would leave his partnership position as well as his position as co-lead of PwC’s advisory business.

“Mr Silverwood, who will step down as lo-lead of the firm’s advisory business, is a veteran deal maker who has worked at the firm for 26 years, including 13 as a partner,” the Financial Review said.

“He was instrumental in helping to sell PwC’s public sector consulting arm to private equity investor Allegro Funds for $1 during the depths of the firm’s tax leaks scandal in mid-2023.”

The firm revealed employees and the advisory team were notified of Silverwood’s resignation plans via email from PwC chief executive Kevin Burrowes.

The email was said to have contained the details of Silverwood’s exit plan as he sought a new career path, as well as the plan for senior partner Rohit Antao to become the sole leader of PwC’s advisory team.

The Financial Review also revealed that Silverwood's future career plans had been tipped to lead a new M&A advisory firm for BGH Capital in Melbourne.

In a statement to Accounting Times, PwC said it was appreciative of all the work Silverwood had done during his time at the firm and thanked him for his partnership.

“We thank Mr Silverwood for his considerable contribution to the firm, particularly during the height of the firm’s challenges,” PwC said.

“We wish him all the best on his future endeavours.”