Deloitte eyes expansion through M&A

Following its recently announced merger with Beijing-based Pan-China, accounting firm Deloitte Touche Tohmatsu International said it plans to acquire more companies in China over the next few years, tapping into the US$150m it has earmarked for China investment, the Wall Street Journal reported, citing the Deloitte China chief Peter Bowie. Bowie said he hopes to expand Deloitte's Chinese staff to between 4,000 to 5,000 by yearend. Its staff has quadrupled during the past 2 years, to 3,200, in eight offices across the country. The Deloitte-Pan-China merger takes effect June 1.