Former head of real estate at Ernst & Young in the UK and Ireland, Craig Hughes (pictured), has joined PwC as a partner.
Hughes has been on six months gardening leave from E&Y, where he worked for 19 years, before starting at PwC on 3 September.
He has joined the accountancy giant’s real estate practice, and will lead the area of the business focusing on client work with investors and funds. Hughes will also be working across the firm’s broader financial services practice.
During his time with E&Y, Hughes worked with public companies, sovereign wealth funds, private equity houses, pension funds and corporate occupiers. His experience spanned a wide range of service offerings, in addition to his role as an audit partner, including operational efficiency, cost reduction, regulation, buy and sell-side transaction support and strategic advice.
Hughes said: “Based on feedback from the real estate market, I am more convinced every day that a place exists for a truly iconic provider of real estate related professional services. Clients want independent, integrated and focused advice delivered in the right way. For example, board members want to be sure that real estate-related strategic advice stands alone, is independent and is not inextricably linked to the resulting transaction activity.
“They want advice to be integrated, to factor in the earnings, financial reporting, tax, operational and regulatory impacts across all jurisdictions in which they operate.”
He added: “I believe that PwC’s ‘one firm’ approach and values of integrity and doing the right thing by our clients and our people make it the firm best equipped to deliver what we believe our clients need.”
John Berriman, chairman of the real estate practice at PwC, said: “Craig is a great addition to our real estate practice. He brings with him a wealth of experience as well as a passion and commitment to the real estate industry.”
bridget.oconnell@estatesgazette.com
