Managing partner seeks to leverage AI as firm and clients grapple with uncertainty caused by Donald Trump’s tariffs
“The big thing we’re trying to get after is a much better focus on the technology part of what we can bring to our clients,” he says, adding that PwC has long had a good reputation in that area.is the latest technology taking centre stage, particularly generative AI. “We’ve got stuck into AI in a big way in the past couple of years,” he says.
All the figures exclude VAT and relate to income generated by PwC’s firms in the Republic and Northern Ireland. But it does not include the firm’s advisory and consulting activities in the North, which are part of the UK firm and employ about 3,000 people. Setting Trump aside, McDonagh says now is the time for Ireland to tackle its “competitiveness issues”, particularly around infrastructure, to “stay agile” and continue to attract new investment.
In terms of this year’s revenues, McDonagh is “hopeful” of beating the 3 per cent growth achieved last time, while recognising the global economic uncertainty that exists. The Irish firm was itself dragged into a scandal last year involving PwC in Australia when it was revealed that a partner in its Australian tax practice had used confidential information from government meetings to assist colleagues in winning new business from multinational technology companies.
“The reason we looked for a three-day commitment is because our business is about people and one of our core philosophies is about high-performing teams and people being together in that team environment so they can learn and grow and foster. Getting that three days in the office is the right balance for us at the moment,” he says.
In spite of that childhood experience, he is a “diehard Dubs fan, there’s no ambiguity when it comes to that”, but he always has a “soft spot” for Ulster teams in the championship.and joining Craig Gardner Price Waterhouse in 1994 via the annual milk-round recruitment sweep of universities that the big accounting firms all do.“I had a fantastic accounting teacher in the way that, in schools, you can get. That’s what fostered the interest in accounting,” he says.
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