EY plans to invest $1bn on funding new services across technology tools, client services and the EY ‘ecosystem’.
The investment will take place over the next two years with the aim being to provide clients and people with products using the latest disruptive technologies.
The areas which will be focused on include financial services, cyber, risk management, managed services, software services and tax and audit services.
EY’s global chairman and CEO Mark Weinberger said: “In this transformative age, business and governments are under significant pressure to not only keep pace, but get ahead of the vast disruption and technological change. We see enormous opportunities in helping clients address these challenges and stay ahead of the technology curve.”
Alongside the investment, EY revealed a number of senior appointments.
Nicola Morini Bianzino has joined EY as global chief client technology officer (CCTO). Prior to this move, Bianzino led AI and AI strategy at Accenture. At EY he will focus on bringing digital capabilities to clients.
Steve George has joined EY as global chief information officer (CIO). George was the former CIO for Citigroup’s North American retail banking, mortgage and global commercial banking teams. He also worked for Accenture where he served on its financial services and technology teams. His main role as CIO at EY will be to define solutions and embed digital technologies across EY teams globally.
Heading up the leadership team will be Barbara O’Neill, EY’s global chief information and security officer, providing strategic direction for all matters including information security.
Weinberger added: “Over the past year we have initiated, pioneered and launched a number of services such as the use of blockchain in marine insurance and in the automation and payment of royalties and the piloting of the use of drones in inventory observations. We have also made big technological improvements to existing offerings such as those in audit and tax. These new investments allow us to build on our strong IT capabilities and invest even more in client and market solutions.”
By Mishelle Thurai