PwC Transactions Services Group

Anyone have any insight on PwC's Transactions Services practice, specifically in Washington, D.C. if possible, but any insight would be great.

Just wonder what the practice is like in general, is it geared more towards finance, accounting, or a decent weight?

Any other information would be greatly appreciated.

 

If the subdivisions of the US firm are mapped like PwC in Europe, then TS includes CDD and FDD services and is the external brand for a subdivision of "Deals".

Basically its all due diligence work from a commercial and financial perspective. FDD is more accounting and finance related work whereas CDD is more finance and strategy.

CRE NERD
 

TS technically resides in their Assurance practice; expect lots of financial due diligence. Verification of balance sheets. That sort of thing. Don't expect groundbreaking valuation or financial analysis. You aren't there to generate investor insights, you're there to verify accounting and finance practices.

Between finance and accounting, more of the latter.

Currently: future neurologist, current psychotherapist Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)
 

I assume if you work hard, nothing is impossible. Try to switch into M&A or Finance Advisory if possible; it's more front-office-type work. The thing is, with TS you have some chance to work on more deal-type work but it's also a mix of FDD - a bit of a tossup depending on staffing. M&A Advisory is mainly post-merger integration or due diligence, but if you can get on some good deals then you'll have quite a bit of opportunity and experience to throw on the resume. Btw, if you'll be in DC, is this for the public finance industry group?

Currently: future neurologist, current psychotherapist Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)
 

It's like any other valuations group at an accounting firm. The group has its own clients as well as audit supports (verify valuations done by other companies), very modelling intensive which can help if you want to transfer to IB. I think depending on where you are, PwC actually works closely with the strategy team, so you might work on some pre-deal stuff like fairness opinions, but I think that's really just for top performers. Really solid plan B and beats audit by miles. I would def. take it if you have nothing else (duh). Some kids in audit would kill for this position.

 
Best Response

@vthokirsaa, you have reflected N/A for the insights provided by chicand- As such, has your experience have been otherwise? What's the main concentration of work that you have experienced/perceived? Of course working with past historical information of target, but have you experienced any prospective projections in the line of work you have been? (Specifically for TAS FDD with PwC)

On another note, I have an interview lined up with TAS FDD group with PwC - would you mind sharing your experience of what you have been through, if this question is applicable to your experience? (i.e. case study, fit question, how many ppl, how many sessions of interview, etc.) any feedback would be awesome and greatly appreciated.

Many thanks.

 

Our firm just hired someone from EY TAS Business Valuations - he spent 2.5 years there. He did a nice job at keeping a relationship/network with all the firms EY served.

Also, I agree with Mongonese. I know many audit and assurance kids who would kill to work in TAS or CF.

Good Luck!

 

No insights in the area you describe but there are lots of different services within TS. Financial Due Dilligence: book reviews for M&A corporate finance: dealmakers which operate like mid-market investment bankers (high deal flow, small-mid deals) Delivering Deal Value: includes Post Merger Integration, IT Due Dilligence, Operational Due Dilligence for pre-and post deal suppor Business Restructuring Services: doing rapid turnarounds for businesses facing bankrupcy Commercial Due Dilligence: strategy/market reviews often for private equity houses or companies looking to buy/sell themselves Strategy/Economics: typical strategy consulting stuff Valuations: determining the value of companies in a deal environment

 

This group isn't doing as much corporate valuation as you might think. The TS group is made up of 5 groups including tax, audit, due diligence and a couple other groups. Focuses a lot on purchase price allocation and the skills are not transferrable to IB at all. That being said, PwC's Transaction Services group is on par with E&Y's Transaction Advisory Services group as the best of the Big 4.

 

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