Soon-to-be official Deloitte U.S. CEO Cathy Engelbert is sure making the rounds on the interview circuit these days. This is a good thing, as it allows everyone to get to know her before she begins her term next month.
In an interview with Forbes contributor David Parnell, Chatty Cathy makes it clear Deloitte U.S. will not be getting into the law space. Not now, not ever. At least, not unless the law changes.
Parnell: In the BigLaw space, there is a significant amount of speculation about whether or not the Big Four will be looking to eventually merge with a major law firm. What are your thoughts on that? Are there aspirations to ultimately move into the legal space?
Engelbert: I can be quite direct.
We’d like to point out that this statement is the polar opposite of the media training she’s received.
Deloitte cannot practice law in the United States, given our other businesses and how we are regulated. Therefore, we have no plans to enter into the legal market or to compete with law firms here in the US.
As you know, we work with lawyers in a very collaborative way to help our clients address their critical and complex business issues, transactions, crises, etc. We work very closely with them, but, again, have no plans to practice law or to compete with law firms here in the US.
Sorry, unemployed lawyers hoping to see a Big 4 merger, not going to happen. Not here, anyway.
As for other countries? “I don’t have any comment on plans outside of the US. Obviously, different countries have different regulations, and I know there are different models outside the US, but I don’t have any comment that is specific to the strategy of other DTTL (Deloitte Touche Tohmatsu Limited) member firms,” Engelbert said.