PricewaterhouseCoopers (PwC) generated 10.73 billion U.S. dollars from the financial services industry in 2018, around four billion U.S. dollars more than the next ranked industry sector. Income from the financial services industry accounted for around 25 percent of the firm’s aggregated gross revenue worldwide in 2018.
What drives demand from financial services?
Financial institutions such as banks and insurance companies face frequent changes in their line of work and, consequently, accounting firms can be confident that revenue from this industry generates a significant share of their annual revenue. KPMG – another of the Big Four accounting firms – received around 30 percent of its annual worldwide revenue from the financial services industry in 2019. One obstacle that many financial institutions are having to overcome is how to cope with changes in technology; many companies are seeking professional advice on how to decrease cybersecurity risks or improve the mobile banking experience for their customers.
An overview of PwC
PwC is an accounting firm – also known as an audit firm or professional services network – with members located around the world. Formed in 1998 as the result of a merger between Price Waterhouse, and Coopers and Lybrand, the firm can trace its roots back to London during the 19th century. PwC is one of the Big Four accounting firms and provides auditing services for many of the world’s most valuable publicly traded companies. In 2019, the firm reported global gross revenue of more than 42 billion U.S. dollars and employed around 276,000 people worldwide.
Aggregated revenues of PwC in 2018, by industry sector
(in billion U.S. dollars)
The terms PricewaterhouseCoopers and PwC are used to refer to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL). Each member firm is a separate legal entity and does not act as an agent of PwCIL or any other member firm. PwCIL does not provide any services to clients.
Figures have been rounded.
The source does not provide a date of publication. The date given is the date accessed.
Revenues are the aggregated revenues of all PwC firms and are expressed in US dollars at average FY18 exchange rates. Gross revenues are inclusive of expenses billed to clients.
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PwC. (October 4, 2018). Aggregated revenues of PwC in 2018, by industry sector (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 05, 2020, from https://www.statista.com/statistics/189686/aggregated-revenues-of-pwc-by-industry-2010/
PwC. "Aggregated revenues of PwC in 2018, by industry sector (in billion U.S. dollars)." Chart. October 4, 2018. Statista. Accessed July 05, 2020. https://www.statista.com/statistics/189686/aggregated-revenues-of-pwc-by-industry-2010/
PwC. (2018). Aggregated revenues of PwC in 2018, by industry sector (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 05, 2020. https://www.statista.com/statistics/189686/aggregated-revenues-of-pwc-by-industry-2010/
PwC. "Aggregated Revenues of Pwc in 2018, by Industry Sector (in Billion U.S. Dollars)." Statista, Statista Inc., 4 Oct 2018, https://www.statista.com/statistics/189686/aggregated-revenues-of-pwc-by-industry-2010/
PwC, Aggregated revenues of PwC in 2018, by industry sector (in billion U.S. dollars) Statista, https://www.statista.com/statistics/189686/aggregated-revenues-of-pwc-by-industry-2010/ (last visited July 05, 2020)
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