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PwC spinoff Scyne Advisory has appointed former Telstra chairman John Mullen as its chair in a bid to further underline its credentials as an independent consulting group.<\/p>\n
Mullen, who left Telstra\u2019s board last month and now chairs Brambles and Treasury Wines, will help oversee the recruitment of an independent board for Scyne, which commenced business on Monday as a stand-alone entity.<\/p>\n
\u201cSomebody defined this as a very large start-up, which appealed to me,\u201d Mullen said.<\/p>\n
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Former Telstra chairman John Mullen likened PwC spinoff Scyne to \u201ca very large start-up\u201d. <\/span>Credit: <\/span>Dominic Lorrimer<\/cite><\/p>\n But he also was attracted by Scyne\u2019s uniqueness in the sector as a government consultancy that is no longer burdened by the conflict of catering to private sector clients as well.<\/p>\n \u201cIt\u2019s pretty unique in one\u2019s career to get the opportunity to participate in the birth of a new vertical within an industry with a very different approach to an old problem,\u201d he said.<\/p>\n \u201cScyne Advisory is a new business, already operating at scale, that is well positioned to disrupt the industry.\u201d<\/p>\n Scyne is starting life with about 1400 staff, including partners, and $100 million worth of funding from private equity group Allegro.<\/p>\n Allegro co-founder Adrian Loader emphasised the need for the new governance model to help differentiate Scyne from the rest of the sector.<\/p>\n \u201cBecause people were worried that we are just a kind of PwC rebadge, we had to come up with a very different governance and values framework,\u201d Loader said.<\/p>\n Allegro Funds co-founder Adrian Loader.<\/span>Credit: <\/span>James Brickwood<\/cite><\/p>\n \u201cOur goal is to create a differentiated ethical framework to our competitors.\u201d<\/p>\n Loader said Scyne had been well received in its interactions with government to date.<\/p>\n \u201cWe\u2019ve got lots of capability, we\u2019ve got tech capability, we\u2019ve got a lot of other types of services which are actually in high demand,\u201d he said.<\/p>\n \u201cWe think that the government is going to interact with us in the same way they use other consultants. And that\u2019s really all we\u2019re asking for.\u201d<\/p>\n Scyne was sold by PwC to Allegro Funds for $1 to rescue the business from the tax scandal engulfing the big four consultancy giant.<\/p>\n PwC\u2019s government consulting arm generated $680 million in revenue from the federal and state governments last year.<\/p>\n The frequency of work is expected to drop significantly this year due to the effective ban from government business following the PwC tax scandal.<\/p>\n Scyne has already made significant progress with government. Last month it was given the green light by the Department of Finance to bid for service contracts with government departments.<\/p>\n The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion.<\/i><\/b> Sign up to get it every weekday morning<\/i><\/b>.<\/i><\/b><\/p>\n<\/p>\n
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