Deloitte will ditch the Drivers Jonas name from 21 January next year.
The 700-plus staff that make up the real estate division of Deloitte and Drivers Jonas Deloitte were gathered at the Tower of London on Wednesday evening to be told that from next year the real estate divisions would be combined to create Deloitte Real Estate.
The move will see the Drivers Jonas name disappear from the market after more than 280 years. Deloitte bought the ?LLP in 2010 and has traded ?the business as DJD.
The combined division will be led by senior partner and tax specialist Andy Rothery. DJD managing partner Richard Owen will become managing director.
Rothery said Deloitte had begun a review of the business six months ago and came to the conclusion that real estate needed to be at the heart of the business.
He said it would now be one of four platforms across the ?firm, along with data analytics, finance transformation, and mergers and acquisitions.
Owen said that Deloitte Real Estate would bring together ?traditional property services with financial and business advisory expertise and would have a greater global recognition.
The combined practice produced revenues of around £130m in the year to May 2012. Around £85m-£90m of this came from the DJ business.
Owen said he was keen to grow Deloitte Real Estate’s turnover to £230m-£250m within the next five years.
Samantha.McClary@estatesgazette.com
