Teneo has entered into an agreement to purchase PwC New Zealand’s Business Restructuring Services unit for an undisclosed sum.
The move marks the further expansion of Teneo’s Financial Advisory business in the Asia-Pacific region.
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If completed, the arrangement will see 22 employees from PwC New Zealand’s Business Restructuring Services team move to Teneo. These include partners John Fisk, Richard Nacey and Stephen White, along with executive director Malcolm Hollis.
The group will sit within Teneo’s Financial Advisory business and will report to its CEO, Daniel Butters.
PwC New Zealand CEO Andrew Holmes said: “We are pleased to confirm the sale of PwC New Zealand’s BRS unit to Teneo. We look forward to working with Teneo on a seamless transition and wish the team all the best for the future.
“PwC remains focused on advancing our clients’ ambitions in AI and business transformation, while strengthening trust. With the deep expertise of our Advisory, Assurance and Tax & Legal teams, we are committed to supporting their success.”
Completion of the deal is subject to standard closing conditions, with finalisation anticipated at the end of next month.
Once complete, the New Zealand team is expected to continue advising on restructuring and insolvency matters involving both domestic and cross-border situations, with a focus on continuity for clients and other stakeholders.
Teneo CEO Paul Keary said: “Today’s acquisition is another important milestone in our global growth and the build out of Teneo’s offering across Asia-Pacific.
“We are deeply committed to continuing to invest in the region, providing a wide range of reputational, strategic and financial advisory services. We are delighted to welcome our new colleagues from PwC New Zealand to the firm.”
The deal follows Teneo’s acquisition of PwC Australia’s Business Restructuring Services unit in July 2025.
Teneo employs more than 1,800 people worldwide.
In recent years, its Financial Advisory business has grown to almost 650 staff.
The segment covers services such as business restructuring, corporate insolvency and bankruptcy, capital advisory, business transformation, and forensics and investigations advisory.
Within Asia-Pacific, Teneo has operations across several markets including Australia, Japan, Singapore, China and Hong Kong SAR.
