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You kind of eluded to it, but PwC (along with most if not all the Big 4) have industry breakouts ( verticals) and also functional breakouts (horizontals). For the horizontals think stuff like Technology consulting, Risk, People & Change, Digital, Ops (which itself is a large and has further breakdowns within it).
In terms of how it works, its a bit of a mixture, some people are assigned to both an industry and function (e.g. Banking & Capital Markets - Risk Consulting), but some functions aren't big enough to split into different industry niches, so they'll just have one group that serves xIndustry. I know their Pricing group is kind of like that, and I think Digital is as well but not 100% sure
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