PwC letting go of local personal practice to focus on businesses
Beginning Tuesday, accounting and consulting firm MNP Ltd. will be taking on the PwC Canada (PricewaterhouseCoopers LLP) personal insolvency practice in Atlantic Canada.
The change comes into effect Tuesday, affecting 35 people in 31 locations in the region, including some in Newfoundland and Labrador.
In a joint statement, PwC representatives said the company remains committed to the region, but with a focus on businesses.
“The sale of the Atlantic Canada personal insolvency practice is part of PwC’s long-term strategy, which is to focus on our core business to deliver quality in audit, tax, consulting and deals services to businesses in Atlantic Canada,” said managing partner for PwC’s regional operations, Brenda Belliveau.
President of MNP Ltd., Grant Bazian told The Telegram all of the affected employees were issued offers by MNP and all accepted.
He said the plan is to maintain the presence that was PwC’s practice and, in future, build upon it.
“We don’t have any offices currently in Newfoundland, so we have to find new space,” he said, adding he expects the company will get settled away over the course of the month.
A former PwC partner, Derek Cramm, will be leading the establishment of MNP Ltd.’s new business in the region.
MNP Ltd. is the insolvency division MNP LLP —being a more familiar name in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec, where the company has an established presence with 166 locations and over 50 years experience.
Bazian said the company had been considering expansion across Canada over the long term and grabbed hold of the opportunity when, along with others, it was approached by PwC about a potential buyout.
MNP Ltd. is focused on personalized debt solutions. Bazian said he as marked the downturn in the oil sector in Alberta specifically and what it has meant for some workers and their families.
An Ipsos poll completed for MNP Debt suggested 52 per cent of people in Atlantic Canada are worried about their debt.
“We’re there to help them,” Bazian said.
(NOTE: Updated as of 5 p.m. Feb. 29, to include comments from Grant Bazian.)