Scyne Advisory has today completed its separation from PwC Australia, becoming a fully independent specialist advisory business.
With the support of Allegro Funds, Scyne Advisory will launch a new dawn of public purpose advisory in Australia when it starts operations on Monday 13 November.
Scyne Advisory will be the largest, at scale, public purpose advisory business in Australia. It will be free of conflict from work with the private sector.
Prior to completion, Scyne Advisory’s leadership and Allegro has implemented an ASX-standard in setting up its governance and policies, and will commence operations with a corporate structure and a board, led by an independent Chair as well as non-executive directors including former Federal Court judge, the Hon. Andrew Greenwood.
Scyne Advisory Managing Partner Richard Gwilym said:
“For the 1,400 partners and staff joining Scyne Advisory, it is the end of our time with PwC as we break all ties. I want to thank PwC for the opportunities they have provided to all of us to build our careers and serve our clients. We wish them well for the future”.
“The events that have led to the establishment of Scyne Advisory are well known. The lessons are hard wired into our structure and will be fundamental to the culture of the new business. We understand the breach of trust that occurred was not acceptable and we will never forget where we came from”.
“Monday signals a new dawn. A new dawn for Scyne Advisory and the industry as we set our course to be the largest at scale, public purpose advisory business that is conflict free from the private sector. We know the challenges that have led to our establishment are not unique, and the industry needs to change, and we are at the forefront of that change”.
“The thorough process that we have undertaken with governments across Australia stands us apart in this sector. No other advisory firm working with governments has gone to the lengths we have to ensure our structures and purpose meets the requirements of our clients.”