Teneo announced it has agreed to acquire PwC New Zealand’s Business Restructuring Services (BRS) unit, extending the firm’s Financial Advisory platform in Asia-Pacific and adding a 22-person team that will anchor a new on-the-ground presence across New Zealand.
Under the agreement, 22 professionals from PwC New Zealand’s BRS practice will join Teneo, including partners John Fisk, Richard Nacey and Stephen White, along with Executive Director Malcolm Hollis. The incoming team will report to Daniel Butters, who leads Teneo’s Financial Advisory business globally.
Teneo said the New Zealand group will continue advising clients on local and international restructuring and insolvency matters as part of its broader Financial Advisory offering, positioning the firm to support companies, creditors and other stakeholders through complex situations that often require cross-border coordination, accelerated decision-making and careful management of reputational and financial risk.
The transaction further builds on Teneo’s expansion strategy in the region following its acquisition of PwC Australia’s Business Restructuring Services unit, which the firm announced in July 2025. With the New Zealand addition, Teneo said it will also open offices in Auckland, Wellington and Christchurch to support clients across the country and to embed restructuring capabilities alongside its wider advisory services.
Paul Keary, Teneo’s CEO, said the deal represents another step in the firm’s broader push to invest in Asia-Pacific and to provide an integrated set of advisory services to leaders facing high-stakes business challenges. Teneo operates as a CEO advisory firm with capabilities spanning strategic communications, investor relations, financial transactions and restructuring, management consulting, risk, governance and other areas, and it frequently positions those services as complementary during periods of disruption or “critical events.”
Butters said the addition of PwC New Zealand’s BRS team strengthens Teneo’s ability to serve clients in an important market and builds on momentum created by the Australia expansion. Teneo framed the move as part of its effort to scale a “critical events” advisory platform in the region, where clients often seek coordinated support across restructuring execution, stakeholder engagement and broader strategic decision-making.
John Fisk, who will become Head of Financial Advisory New Zealand at Teneo, said the team is joining to play a central role in the firm’s global financial advisory and restructuring strategy. Teneo said the New Zealand practice will focus on delivering outcomes for clients while continuing to develop and grow the team as it transitions into the firm’s global operating model.
From PwC’s side, New Zealand CEO Andrew Holmes said the firm is selling the BRS unit to Teneo and will work with the buyer to ensure a smooth transition. PwC said it remains focused on supporting client priorities in areas such as AI and business transformation, while strengthening trust through its Advisory, Assurance, and Tax & Legal capabilities.
Teneo said it now employs more than 1,800 people globally across more than 45 offices. Within that, its Financial Advisory business has grown to nearly 650 employees and includes services such as business restructuring, corporate insolvency and bankruptcy, capital advisory, business transformation, and forensics and investigations advisory. In Asia-Pacific, Teneo said it has an established presence in key markets including Australia, Japan, Singapore, China and Hong Kong SAR, and the New Zealand buildout is designed to deepen coverage and extend its regional network.
Financial terms were not disclosed. Teneo said the transaction is subject to customary closing conditions and is expected to close at the end of February 2026.
KEY QUOTES:
“Today’s acquisition is another important milestone in our global growth and the build out of Teneo’s offering across Asia-Pacific. We are deeply committed to continuing to invest in the region, providing a wide range of reputational, strategic and financial advisory services. We are delighted to welcome our new colleagues from PwC New Zealand to the firm.”
Paul Keary, Chief Executive Officer, Teneo
“We continue to see significant opportunity across the region for a critical events advisor of scale, and this acquisition will further strengthen our capabilities in an important market for our business. We have seen great momentum following the expansion of our Financial Advisory business into Australia last year, and our new colleagues in New Zealand will play a key role in helping us continue to provide world-class service to clients.”
Daniel Butters, Chief Executive Officer, Financial Advisory, Teneo
“We are excited to be joining Teneo and be a key part of its strategy to grow a global financial advisory and restructuring business. We will remain focused on what has always been important: the growth and development of our team and continuing to deliver great outcomes for our clients.”
John Fisk, Incoming Head of Financial Advisory New Zealand, Teneo
“We are pleased to confirm the sale of PwC New Zealand’s BRS unit to Teneo. We look forward to working with Teneo on a seamless transition and wish the team all the best for the future. PwC remains focused on advancing our clients’ ambitions in AI and business transformation, while strengthening trust. With the deep expertise of our Advisory, Assurance, and Tax & Legal teams, we are committed to supporting their success.”
Andrew Holmes, Chief Executive Officer, PwC New Zealand
