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Luke Sayers’ consulting firm rebrands after lewd photo scandal

Hannah Wootton 

May 14, 2025  

 The change is significant for Sayers Group, which was founded in 2020 by the former PwC CEO and heavily relied on his connections to get investors and clients.

Consulting group Sayers Group will rebrand as Tenet Advisory & Investments as it attempts to draw a line under a lewd photo scandal involving its founder, Luke Sayers, in January.
The firm is also changing its governance structure, but details of those changes, including key appointments to its board, are still being decided.

In January, a photo of a penis was posted by Sayers’ Twitter/X account. A senior staffer from Bupa, who helped manage the insurer’s three-year sponsorship deal with Carlton Football Club, was tagged in the post.
Sayers was president of Carlton at the time. He maintained throughout the scandal that he was hacked and an investigation of the AFL backed up his explanation.
Sayers stepped down from the Carlton presidency soon after the photo was posted, however, and took leave from Sayers Group. His marriage also ended.

 His role at the firm and its name have been a continued discussion among its leaders since.

The name change is a significant shift for Sayers Group, which was founded in 2020 by Sayers and its current CEO, Sammy Kumar. It relied heavily on Sayers personal connections, first within Melbourne and then Sydney, to develop its client base. Many of Sayers Group’s original investors were friends of the former PwC CEO.

Sayers and Kumar both said the changes were a deliberate step to reposition the firm and reinforce its long-term focus

Sayers Group co-founder and CEO Sammy Kumar.  Arsineh Houspian


“The distractions of inquiries into the PwC matters over the past two years, followed by more recent and disproportionate media intrusion into my private life, have been challenging for all,” Sayers said.


“It is the right time to move forward with a new identity, as we transition from a start-up to a significant participant in the sector.”

Sayers was heavily criticised by the senate inquiry into the PwC tax leaks scandal because he was CEO of the big four firm at the time its misconduct occurred. He has repeatedly maintained he did everything in his power to resolve the problems in the firm’s tax division, but senators questioned his level of knowledge of the wrongdoing and why he did not end it.


On the rebrand, Sayers noted the firm had grown far beyond just himself. It has 20 partners and 60 staff nationally, which he said showed the “diverse ownership” of the firm.


Corporate filings for Sayers Group show Sayers owns 31.4 per cent of Sayers Group Holdings, with the remainder owned by a vehicle called Sayers Capital. Investors in that company include his close associates, such as Lindsay and David Fox, Jayco founder Gerry Ryan, HelloWorld CEO and former Liberal party treasurer Andrew Burnes and Andrew Bassat, the co-founder of Seek and president at the St Kilda football club.


As of the start of this year, more than half of Sayers Capital was owned by Sayers’ ex-wife Catherine Sayers. Changes to that holding as a result of their split are currently unknown.


There is a separate structure which enables staff of the firm to hold a stake in part of the business.


Kumar said the name ‘Tenet’ stemmed from the firm’s belief in the fundamentals of growth and value creation across its strategy, technology and mergers and acquisitions work.


“We are firmly focused on the future, and today’s announcement to strengthen the foundations of the business will ensure we are well positioned for success,” he said.

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Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.com