New York - 24 October 2006

Six Deloitte member firms join forces to enhance clients’ service

William G. Parrett, CEO Deloitte Touche Tohmatsu, has announced the establishment of Deloitte Caribbean/Bermuda, a new cluster of member firms that will strengthen their position in the Americas and will expand opportunities for growth in the region. Six Deloitte firms make up Deloitte Caribbean/Bermuda: the Bahamas, Barbados, Bermuda, the British Virgin Islands, the Cayman Islands, and Jamaica.

This new structure follows the creation of Deloitte LATCO (Latin American Countries Organization) and Deloitte ASEAN. It is part of Deloitte member firm’s strategy to support growth in the emerging markets, and to enhance client service and firm competitiveness in response to market globalization.

“Deloitte member firm clients are demanding consistent high quality service across borders and this is one way this level of service can be delivered in the current environment.

The establishment of Deloitte Caribbean/Bermuda enables the member firms to leverage their combined size, scale, and expertise to develop the right teams to match client needs, which will help them achieve the Deloitte member firms' vision, to be the standard of excellence,” said Mr. Parrett at the inaugural Deloitte Global Forum in Buenos Aires (Argentina).

The new cluster comprises more than 30 partners and 600 professionals in the six mentioned countries. Mr. Parrett also announced that Frank Paredes, the current Audit and Risk Regional Managing Partner of Deloitte Latin America/Caribbean will lead the new cluster while local partners will maintain their current responsibilities. Day-to-day operations will remain the responsibility of existing member firms’ managing partners.

An important consideration for the development of Deloitte Caribbean/Bermuda is the ability to offer expanded professional development opportunities and growth for the 600 professionals and others. This results from the sharing of knowledge, resources, and operational best practices.

Mr. Paredes said, “Our goal is to be the first choice of the region’s best talent, which we need to provide the highest quality service to our clients. The new arrangement helps develop and nurture this. He also explained, “many of our clients are demanding seamless services and coordinated practices in the area. The new structure will help reduce many of the difficulties member firms are facing when trying to coordinate service activities across borders. Further, with this new structure, we expect to expand operations to other islands of the Caribbean.”

“Our collective resources will help the region achieve the standard of excellence and continue to meet the goals of the Deloitte member firm business strategy,” Paredes noted.

This announcement was made at the Deloitte Global Forum that took place in Buenos Aires (Argentina) last week. The Deloitte Global Forum is a series of one-day events for Deloitte member firm clients, regulators, and other community influencers, held in different regions of the world. The objective is to promote collaboration between Deloitte member firms, their leadership, global clients, and other stakeholders.

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