MANILA – Punongbayan & Araullo (P&A) and Navarro Amper & Co. (NA&Co.) have signed a memorandum of agreement (MOA) that aims to combine their respective existing practices into a single partnership.
The two firms will continue to serve their respective clients as separate practices during the MOA period, with the merger to be completed by July 1, 2014.
With the merger, the combined firm will be known as Punongbayan Amper & Co., creating one of the largest professional services firms in the Philippines.
Punongbayan Amper & Co. is expected to earn total annual revenues of P1.2 billion, with 34 partners and more than 1,000 employees.
“I am excited about the positive benefits that this merger will provide our clients and our people: our clients will have access to the resources and service capabilities within the Deloitte global network, and our people will benefit from the opportunities to grow their careers in a bigger firm,” said P&A founder Ben Punongbayan, who will be appointed chairman.
Greg Navarro will be the managing partner and CEO, while Marivic Españo, the current chairperson and CEO of P&A, will be the deputy managing partner.