July 20, 2018

Jim Quigley

Former Deloitte CEO Sorry Not Sorry for Anyone Who Can’t Handle Being on an Audit Committee

According to a piece from Michael Rapoport and Joann Lublin in the Wall Street Journal today, audit committees are the "junk drawer" of corporate boards. The workload of the powerful committees has expanded sharply beyond their core role of overseeing a company’s financial reporting. They are grappling with new regulations, whistleblower claims and issues like […]

Jim Quigley Reflecting on His Time as Deloitte CEO via Twitter

Davos regular and out-going Deloitte Global CEO Jim Quigley is reflecting on his time in the big chair on Twitter and so far he’s said that “Experience has taught me in a world that seems increasingly focused on sprints, great professional relationships are the work of marathoners,” and “I’ve learned we often allow the urgent to crowd out the important; getting in front is the way we will stay in front.” These are nice thoughts and we’re big on reflection but what do you think Jimbo is really thinking that the Deloitte Twitter filters aren’t letting through?

Luckily, we’ve obtained JQ’s copious Tweet notes, all of which were ultimately denied by Deloitte’s Ministry of Propoganda. Here are some of the denied tweets:

• Really kicking myself after turning down Queen Rania’s offer to buy me a drink at Davos last year. #IDIOT

• Disappointed that I only get 5 months to Tweet under @deloitteceo. Not sure what my new handle will be. Is @deloittekicksass taken?

@JustinBieber how do you get ready for a big show?

• I’m just going to say it: Sharon Allen has awful taste in music.

• Good luck Barry! I guess I don’t have to warn you that this job will make you lose your hair.

Of course, many of you know Jim better than us, so feel free to speak/Tweet on his behalf below.

Book Review: As One, Co-authored by Deloitte’s Jim Quigley

Let’s be completely honest here, when I heard James Quigley had worked on a book subtitled “Individual Action/Collective Power,” I half-expected this to be a handbook on how to get miserable shlubs to do your evil bidding for you while you abuse and humiliate them. After all, the man oversees an entire army of miserable green dot shlubs, surely he knows a thing or two about getting people to do things for you.

Lucky for Quigs and theinds behind As One, however, this book was nothing of the sort. More like Choose Your Own Adventure for leaders, which allows the reader to first determine which archetype of leaders and followers his or her group falls under. Featuring case studies (“inspirational” stories) with such big names as Apple, GE and Pixar, As One looks the why of these organizations’ collaborative efforts before taking on the how.


Deloitte spent two years studying effective collaborations and in the process defined eight archetypes of leaders and followers: Landlords & Tenants, Community Organizer & Volunteers, Conductor & Orchestra, Producer & Creative Team, General & Soldiers, Architect & Builders, Captain & Sports Team and Senator & Citizens. The main archetypes are strategically located across a circular axis, with Landlord & Tenants and Community Organizer & Volunteer anchoring the upper and lower poles. Conductor & Orchestra and Producer & Creative Team sit at the extremities of the horizontal “nature of the task” dimension on the west and east ends of the axis. The other four archetypes are hybrids, occupying the spaces between the main archetypes and combining some characteristics of each.

So this got me thinking, where would Caleb and I be on the axis?

As much as I would like to paint your dear Going Concern editor in a sycophantic, borderline psychotic light, “Dictator & Huddled Masses” wasn’t included in As One, so instead I used the easy chart in the book’s intro to answer a few simple questions about how our organization works. I have the creative freedom to carry out tasks the way I choose (as long as I don’t talk too much about the Federal Reserve), and we have a fairly small hierarchy given the size of our website and TPTB that rule over us. Instead of choosing the archetype I assumed we’d be (Producer & Creative Team), I went by the chart to determine we were most like Community Organizer & Volunteers.

From key characteristics:

Volunteers cannot be told what to do; they must be given the choice to join on their own terms. The persuasive message of the community organizer motivates them to join in the cause; and it’s that common purpose that inspires volunteers to make a difference.

[Volunteers] independently choose to follow the path of altruism or enlightened self-interest. Community organizers and volunteers may be passionate, selfless and dedicated, but, above all else, they are independent thinkers who, of their own volition, decide whether to get involved in a cause and for how long.

“A community organizer is someone who uncovers [volunteers’] self-interest,” says Jana Adams, the National Training Coordinator at the Direct Action Training Research Center. “They give [volunteers] an opportunity to work in their own self-interest and address problems in the community that they could not address by themselves.”

All of those key characteristics rang true with me, though I wouldn’t necessarily call making misogynist jokes about work/life balance altruistic. And I definitely cannot be told what to do, so another point to the book for that one.

As One allows the reader the opportunity to brand his or her own strategy, whether or not the current structure allows for such freedom. Unlike much of what one might encounter in public accounting or any other similarly-structured business, the free flow and adaptability of As One gives leadership the chance to form itself, mostly through analysis of what makes an archetype tick. Even miserable shlubs have a drive (be it money, stability, masochism or the perpetual carrot of becoming partner one day being dangled in front of one’s face), it’s how they are driven that makes all the difference. Point being that leadership isn’t about who can bark orders the loudest, despite how life in public accounting might make it appear.

Are we all so easily prodded into distinctive roles? Not really, and As One doesn’t attempt to do so. Its authors argue that life itself is a collaborative journey, and it may just be easier on all of us to accept that. Organizational structure doesn’t necessarily have to create a disenchanted workforce just in it for the paycheck, and recognizing the strengths and weaknesses of each collaborative group can actually help infuse a little pride in the job, or at least more willing participation.

As One isn’t a book about how to get people who hate you to do things for you, it’s about recognizing the individual power in each of us to accomplish collective goals, be that running a business or changing the world as we know it. It presents some awfully lofty goals but asks one very important question: what could we accomplish if we could unlock the power of As One on a global scale?

Find the book on Amazon here, and download free As One iPhone or iPad apps here. You can find out more about As One through the Deloitte Center for Collective Leadership.

Barry Salzberg Elected to Be Deloitte’s New Global CEO

Barry Salzberg will be the next global CEO of Deloitte, according to a statement released by the firm today. Of course, if you’ve been following our coverage of the controversy around the election process at Deloitte, then you already knew that this was coming. As you know, this election was an all or nothing deal and with Salzberg taking the reigns from Jim Quigley on June 1, Joe Echeverria will be the new U.S. CEO and Punit Renjen will assume the Chairman’s role vacated by Sharon Allen.


The always quote-worthy (at least in the context of a Deloitte press release) Dr. Phil said he was “humbled by the confidence that the network has placed in my leadership during this historic time.” He also had some kind words for predecessor, “Over the years, I have worked closely with Jim Quigley and admired his commitment to our strong global culture and shared values, which have brought us to our preeminent position in the marketplace today.”

So congrats to Mr. Salzberg on the promotion (and surviving the coup d’etat). Feel free to leave your well-wishes or other thoughts on the matter in the comments below.

Against a Picturesque Backdrop, Jim Quigley Talks Deloitte’s Hiring Spree, Obama’s Tone and Igniting the Entrepreneurial Spirit

Quigs sat down with Fox Business’s Liz Claman and hasn’t even tweeted about it!?!? Whoever his ghost tweeter is, they need to be replaced immediately.

Sidebar: has anyone noticed JQ’s new spectacles? Thoughts on the visible breath, scarf choice and Liz Claman’s interviewing technique are encouraged.

Let’s All Give Jim Quigley a Warm Welcome to Twitter

We knew it was only a matter of time before Jim Quigley rounded up enough interns to run his Twitter account for him and it seems that day has finally come. While we won’t openly admit to hoping he immediately engaged in common Twitter faux pi like tweeting in all caps or speaking to others as if they could hear him without using the all important @, we’ve thoroughly scanned his account and can barely find anything to bag on.

It seems, however, that he’s merely pimping out the World Economic Forum and is really, really excited about it. So excited, in fact, that it’s been all he’s tweeted about in the less than two weeks he’s been sharing with us in 140 characters or less.


What he isn’t tweeting is how much his trip to Davos to hob-nob with the global elite might cost him. We of the working class, ticking and tying set might feel he could just as easily put his finger on the pulse of the economy by sitting down with any number of Deloitte’s 170,000 employees since, last we checked, the economy was people, not rich guys (and gals, it’s the 21st Century) hanging out in Switzerland.

We won’t say we’re disappointed because our standards are really low to begin with but he could have, you know, toned it down a notch.

Just how much does a trip to Davos cost a snazzy Big 4 CEO? Ask Andrew Ross Sorkin: A basic level Davos excursion will run you $71,000 for membership to the organization and ticket alone (that doesn’t include hotels, helicopters or red carpets strewn ahead of you). The “Industry Associate” level, which would get JQ behind the velvet rope to hang with other hot accounting and finance rockstars, runs $156,000. And if, say, Quigs wants to bring a buddy the “Industry Partner” level could run him around $301,000.

Well wait, it’s not fair to say he’s only tweeting about WEF, he did also throw some tweets about chicks in there. You know, for diversity’s sake.

Hey, it beats over-hashtagging I guess.

Earlier:
Deloitte Global CEO Jim Quigley Is Tweeting

The Fortune 100 Best Companies to Work For: Deloitte #63 (2011)

Next up on Fortune’s “You wish you worked here” list, comes the newest future resident of 30 Rockefeller Center. A slight improvement for the Green Dot this year, as the firm jumped from 70 to 63. Let’s get right to it.


Deloitte – Previous rank: #70. Deloitte wins the race for fewer white people reports Fortune, “A third of its employees are nonwhite, the highest percentage of the Big Four.”

Stats of note:
New Jobs (1 year): -552
% Job Growth (1 year): -1%
% Voluntary Turnover: 11%
No. of Job Openings at 1/13/2010: 3,511
Most common salaried job: Senior/Senior Consultant – $81,622
% Minorities: 33%
% Women: 43%

Compared to last year, new jobs, job growth, number of jobs (last year it was 11k), average salary and percentage of women are all down. Turnover ticked slightly up as did % of minorities. So while Deloitte manages to be the top Big 4 firm in the ranking, we’re guessing that the brass is a little miffed by the wide margin between themselves and P&M. Still no tweet from Jim Quigley on this but he seems a little distracted with Davos to be notice a seemingly permanent spot on the F100BCTWF, “Oh, gosh. That old thing? That’s great, just change the number and dates on the press release. And try to get Salzberg to say something a little less cliché.”

Too late, Jim.

Earlier:
The Fortune 100 Best Companies to Work For: Plante & Moran #26 (2011)
The Fortune 100 Best Companies to Work For: Deloitte #70

Deloitte Global CEO Jim Quigley Is Tweeting

There goes the Twittersphere.

Jim Quigley has broken the Big 4 CEO cherry on Twitter (to our knowledge) and he decided to do it in honor of the World Economic Forum (aka: The annual CEO ego strokefest) in Davos, Switzerland that gets underway in less than two weeks. Above is Quig’s one and only tweet so far and it’s very CEO-ish. We’re not expecting anything of the Kaplan variety but cripes man, add some color. May we recommend our series of “Doing it Wrong” Twitter posts from our resident expert?

Anyhoo, here’s the video from the tweet:

Thoughts on the performance are welcome. And JQ should know that we know Twitter can have a slight learning curve, so we’ll save you the trouble: you can follow Going Concern here. Oh, and Adrienne will be writing a review, so tweet to impress.

[via TS]

Jim Quigley Would Really Like It if the Big 4 Could Audit in India

Deloitte is hiring about 3,000 people in India as part of their hiring bonanza and global CEO Jim Quigley dug into his bag of boilerplate statements to express his excitement:

“India is an extremely important market for Deloitte. As…Opportunities in the new economic environment emerge in India, Deloitte with its focus on hiring, developing, and deploying the best talent in the region, will help clients capitalise on these new market initiatives,” Deloitte Global CEO Jim Quigley told reporters here.

Right. So nothing new there. However, Quigs thinks that it’d be really swell if TPTB in India would change their mind about letting the Big 4 provide audit services there:

Quigley also made a case for India to open up its market and allow global audit firms to practice here, besides providing consulting and advisory assistance.

Allowing international accounting firms to practice here would require India to negotiate and allow the service to be accessed under the World Trade Organisation (WTO). At present, India has not opened up services like audit and law for foreign practitioners.

“I urge the Indian authorities to give a serious thought to allowing global audit firms to practice here. It is for the betterment of accounting professionals. A mutual recognition is required out of foreign direct investment,” Quigley said.

See? It’s not just about the biggest firm in the known universe getting bigger, it’s for the betterment for the entire accounting race. There’s so much fun to be had. The Satyams of the world are once in a blue moon.

Jim Quigley Is Still Talking About Deloitte’s Hiring Bonanza, Last Year’s BusinessWeek List

After his appearance on Fox Business, Quigs plugged himself in for 24 hours and then hopped over to Bloomberg to talk about the disappointing job numbers from last week but that at Deloitte, things are just swell.