The board of Deloitte Australia has settled on Adam Powick, a final-year Parade College student of 1983, as its preferred candidate to replace Richard Deutsch in the role of CEO.

The Financial Review’s Professional Services Editor Edmund Tadros recently reported that the board’s decision came after Mr Deutsch surprised the firm and its leaders by suddenly resigning as chief executive on March 11.

At Deloitte Australia, the board selects a preferred CEO candidate from a shortlist and then recommends that person to the partnership. The partners then vote yes or no to the candidate, with the recommended candidate typically receiving a high level of support.

The Financial Review reported that Asia Pacific CEO Cindy Hook played a key kingmaker role in Adam’s selection as the board’s preferred candidate.

The board, led by chairman Tom Imbesi, told the partnership about Adam’s selection as preferred candidate, with a vote expected before the end of the month.

Adam, who has a bachelor of aeronautical engineering from RMIT University and an MBA from Monash University, has worked at Deloitte for more than 25 years. He has been the firm’s Asia-Pacific consulting leader since 2018, a role that oversees an advisory business spanning China, Japan, Australia, India, Singapore, Malaysia, Indonesia, Thailand, New Zealand and Korea.

Melbourne-based Adam was previously Deloitte Australia’s managing partner of clients and industries between 2015 and 2018, and the managing partner of consulting between 2010 and 2015.

Adam began his professional career as a systems engineer at Fujitsu Australia before moving to Deloitte as a consultant in 1992. He describes the move to the firm as being a “youngster stepping out and learning the management consulting game” in his LinkedIn profile.

He was made a Deloitte Australia partner in 2002.

Adam completed his final year at Parade in the same year as Principal Andy Kuppe. His younger brother Greg was a final year student of Parade in 1984, and represented the Old Paradians’ Football Club in its B-Section Premiership team of 1986.

His uncle the Old Paradian Raymund Cashmore completed his schooling at the ‘Old Bluestone Pile’ in 1966.