PwC’s mobility unit to become independent upon CD&R sale

PwC has announced its global mobility tax and immigration services business is to become an independent company named Vialto Partners.

In October 2021, PwC revealed the sale of its global mobility tax and immigration services business to Clayton, Dubilier and Rice (CD&R) funds. Upon deal close, which is expected in the second quarter of 2022, the business will become an independent company.

Vialto Partners will use its independent structure to invest in an “innovative, integrated platform” for clients to solve cross-border employment challenges. It added it will “drive” the mobility ecosystem forward to create a more connected, integrated and efficient supply chain for the evolving global workforce management.

According to the firm, Vialto Partners will be built on the “best” of PwC’s global mobility tax and immigration services people, expertise, purpose and values. It will pair the resources of a mobility leader with the agility of an independent organisation.

Working with colleagues across the globe, the firm said the name Vialto Partners was chosen to signify the “aspiration” to help clients reach new heights in managing their global workforces.

Vialto is derived from “via,” meaning a path forward, and “alto”, signalling altitude. The team paired this name with “Partners” as a tribute to PwC’s culture of teamwork.

Peter Clarke, CEO of PwC global mobility services and future CEO of Vialto Partners, said: “A new name is a symbol of a fresh start. It signals a new moment, and our story to come. Vialto Partners is both a nod to where we’ve come from, and to our commitment to create an organisation which is dedicated to serving our clients and supporting our people.

“One where physical boundaries won’t stand in the way of doing better business, and where geographies don’t hinder human potential.”