Deloitte named the leader in crisis advisory in financial services by Kennedy

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May 21, 2015, 10:02 ET

NEW YORK, May 21, 2015 /PRNewswire/ -- Deloitte Touche Tohmatsu Limited (DTTL) is pleased to announce that Kennedy has named Deloitte the leader in crisis advisory in financial services in the Event-Driven Consulting in Financial Services: Crisis Advisory in the New Regulatory Framework 2015 report.

Deloitte’s “A day like any other” video highlights the importance of companies being prepared in the case of a major crisis: http://bit.ly/1QQ5BSX

The report notes: "Crisis management has evolved rapidly over the past two decades, mostly in reaction to events in financial services. Consulting firms have had to develop in-house capabilities and tools to help address client crises that can easily engulf their entire organization, regardless of where they start." This research examines how consulting firms are able to help financial services clients when something has gone wrong, when the senior leaders of banks, insurance companies, investment banks and asset managers find themselves eye-to- eye with their worst-case scenarios. The Kennedy report defines financial services as "services concerned with the allocation, management and investment of resources with particular emphasis on time (term), liquidity and risk."

Specifically for Deloitte, the Kennedy report notes, "Deloitte gets special call-out in the Kennedy Vanguard not only for its impressive capabilities – even within the context of the Big Four – but because it has taken steps to elevate crisis management to a more strategic level."

"Deloitte helps clients deal with the unexpected," said Jeremy Smith, Global Crisis Management Leader at DTTL. "Deloitte helps them prepare for, be able to respond to and ultimately emerge much stronger in the face of adversity. It is this concept that we call the unforeseen advantage and it's the reason Deloitte built the Center for Crisis Management."

"In a crisis, the decision-making environment completely changes; often the business as usual organization structure won't suffice," commented Rhoda Woo, Deloitte US Crisis Management Solutions Leader for its Risk Advisory practice. "In order for senior executives to anticipate and prepare for the unexpected events, they need to understand their roles in a crisis. We help them to understand crisis leadership skills as individuals and as an executive team. They plan in advance how to mobilize the organization for an effective crisis response."

Additional Findings from the Kennedy report

"Deloitte is among a handful of firms which have deep working relationships with regulators and other authorities (e.g., Department of Justice, Federal Reserve, etc.) which can be crucial in helping a client navigate regulator expectations."
"A service Deloitte has developed considerably since acquiring Simulstrat in 2010 is scenario planning or 'wargaming,' putting client organizations in the midst of devastatingly real (simulated) crisis."
"There are a couple areas in the long list of Deloitte's relevant services where others may excel but to date, none bring all those services together as meaningfully for clients in crisis as Deloitte."

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's more than 210,000 professionals are committed to becoming the standard of excellence.

Video - https://www.youtube.com/watch?v=JcIzhyqBddQ

SOURCE Deloitte