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July 13, 2010

E&Y creates $2bn integrated Asia-Pac operation

Ernst & Young (E&Y) has combined its
Far East and Oceania practices to create one integrated
Asia-Pacific operation with combined revenue of $2bn.

The E&Y Asia-Pacific operation will
integrate more than 26,000 staff and 1,200 partners across 20
countries, including Singapore into a single organisational area
structure led by Lou Pagnutti.

E&Y has also appointed Ong Yew Huat as the
area’s chief operating officer.

According to E&Y the integration is part
of the firm’s global strategy and reflects the trends in the
Asia-Pacific region.

“Asia-Pacific’s role in the world economy is
growing. Creating our Asia-Pacific area reflects wider trends and
mirrors the structure of many of our clients, and will enable us to
further deliver the seamless, consistent quality services to our
clients wherever they are,” E&Y Singapore managing partner
Steven Phan said.

E&Y global chairman and chief executive
Jim Turley said he is pleased with the positive response from
partners in favor of the step to globalise the business.

“This, together with the integration of our
Americas practices in 2006 and that of Europe, the Middle East,
India and Africa in 2008, differentiates us in the marketplace as
the most globally integrated professional services firm,” Turley
said.

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