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Facts and figures
At a glance
Our business model and strategy continue to weather the economic turmoil and withstand the test of time. Our combined global revenues were US$24.4 billion for the financial year ended 30 June 2012, compared with US$22.9 billion in 2011. Revenues grew 7.6% in local currency (6.7% in US dollars).
All of our service lines showed growth. Assurance revenues were up 4.1%, Tax 7.0%, Transactions 9.4% and Advisory 16.2%, a good performance given the current business climate. Growth in all of our service lines was almost entirely organic, with acquisitions accounting for less than one half of one percentage point. These are our best results since 2008, in the midst of what have been several years of uncertainty.
Our strongest-performing sectors, all with double-digit growth, were automotive, life sciences, mining and metals, and oil and gas.
As a result of the improvement in our business, we’ve grown our headcount to 167,000, an increase of more than 15,000 people in fiscal 2012. We know that if we attract and retain the best people – and invest in them – we will deliver the best results for our clients. And, while we still have much to do in terms of diversity and inclusiveness, we are making steady improvement. Globally 25% of our new partners this year are women, up from 23% last year and 20% in 2010.
Our success in the emerging markets is largely the result of a strategic investment program started six years ago. Since the inception of this program, we have invested more than US$1.8 billion in our geographies, the majority of which has been earmarked for the emerging markets. The results of this have been clearly visible in 2012, as Brazil saw organic revenue growth of 17.5%, while India, Africa, China and the CIS increased revenues 19.8%, 10.2%, 11.8% and 15.6%, respectively.
2012 Fortune Global 500
% of companies served by Ernst & Young
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2012 Forbes Global 2000
% of companies served by Ernst & Young
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Non-audit clients
Companies where Ernst & Young revenues exceeded US$500k in FY12.
All other companies
Companies where Ernst & Young revenues were less than US$500k in FY12.
Revenue US$ millions
| % change | |||||
| Area | FY12 | FY11 | US$ | Local currency | |
| Americas | 9,820 | 8,981 | 9.3 | 10.1 | |
| EMEIA | 10,459 | 10,075 | 3.8 | 6.5 | |
| Asia-Pacific | 2,813 | 2,532 | 11.1 | 8.1 | |
| Japan | 1,328 | 1,292 | 2.8 | -2.3 | |
| Total | 24,420 | 22,880 | 6.7 | 7.6 | |
| % change | |||||
| Service line | FY12 | FY11 | US$ | Local currency | |
| Assurance | 10,923 | 10,561 | 3.4 | 4.1 | |
| Tax | 6,370 | 6,011 | 6.0 | 7.0 | |
| Advisory | 4,956 | 4,304 | 15.1 | 16.2 | |
| Transaction Advisory Services | 2,171 | 2,004 | 8.3 | 9.4 | |
| Total | 24,420 | 22,880 | 6.7 | 7.6 | |
People
| Area | FY12 | FY11 | % change |
| Americas | 50,256 | 45,010 | 11.7 |
| EMEIA | 81,022 | 73,136 | 10.8 |
| Asia-Pacific | 29,294 | 27,125 | 8.0 |
| Japan | 6,653 | 6,570 | 1.3 |
| Total | 167,225 | 151,841 | 10.1 |
| Service line | FY12 | FY11 | % change |
| Assurance | 66,232 | 60,527 | 9.4 |
| Tax | 31,988 | 29,118 | 9.9 |
| Advisory | 27,046 | 23,304 | 16.1 |
| Transaction Advisory Services | 8,598 | 7,922 | 8.5 |
| Practice support | 33,361 | 30,970 | 7.7 |
| Total | 167,225 | 151,841 | 10.1 |
Ernst & Young is not a global corporate structure where ownership, legal control, or profits are consolidated at a central parent entity. The financial information presented here represents combined, not consolidated, revenues, eliminates inter-firm billings and includes expenses billed to clients.
Global Executive
The Global Executive, our highest management body, brings together the three dimensions of Ernst & Young – functions, services and geographies.
James S. Turley
Chairman and Chief Executive Officer
Mark A. Weinberger
Chairman and Chief Executive Officer-elect
John F. Ferraro
Chief Operating Officer
Beth Brooke
Global Vice Chair
Public Policy
Victoria Cochrane
Global Managing Partner
Quality & Risk Management
Mike Cullen
Global Managing Partner
People
Peter Griffith
Global Managing Partner
Operations & Finance
John Murphy
Global Managing Partner
Markets
Steve Howe
Area Managing Partner
Americas
Yoshitaka Kato
Area Managing Partner
Japan
Mark Otty
Area Managing Partner
EMEIA
Lou Pagnutti
Area Managing Partner
Asia-Pacific
David Holtze
Global Vice Chair
Tax
Norman Lonergan
Global Vice Chair
Advisory
Pip McCrostie
Global Vice Chair
Transaction Advisory Services
Christian Mouillon
Global Vice Chair
Assurance
Albert Ng
Representative of Emerging Market Practices
Photography
John Wildgoose
Leadership team
| James S. Turley* Chairman and CEO New York and London | Mark A. Weinberger* Chairman and CEO-elect Washington, DC |
| John F. Ferraro* Chief Operating Officer London | Beth Brooke* Global Vice Chair – Public Policy Washington, DC |
| Victoria Cochrane* Global Managing Partner – Quality & Risk Management London | Mike Cullen* Global Managing Partner – People London |
| Peter Griffith* Global Managing Partner – Operations & Finance London | John Murphy* Global Managing Partner – Markets London |
| David Holtze* Global Vice Chair – Tax London | Norman Lonergan* Global Vice Chair – Advisory London |
| Pip McCrostie* Global Vice Chair – Transaction Advisory Services London | Christian Mouillon* Global Vice Chair – Assurance Paris |
| Steve Howe* Area Managing Partner, Americas New York | Trent Henry Canada Toronto |
| Deborah Kissire East Central (US) McLean | Carmine DiSibio Financial Services Organization New York |
| Ronen Barel Israel Tel Aviv | Alberto Tiburcio Mexico and Central America Mexico City |
| Rick Fezell Midwest (US) Chicago | Scott Halliday Northeast (US) New York |
| Jorge Menegassi South America São Paulo | Karole Lloyd Southeast (US) Atlanta |
| Randy Cain Southwest (US) Dallas | Kay Matthews West (US) San Jose |
| Mark Otty* Area Managing Partner, EMEIA London | Ajen Sita Africa Johannesburg |
| Rudi Braes BeNe Rotterdam | Philip Hourquebie Central and Southeast Europe Istanbul |
| Karl Johansson CIS Moscow | Jean-Pierre Letartre FraMaLux Paris |
| Andy Baldwin Financial Services Organization London | Georg Graf Waldersee GSA Berlin |
| Rajiv Memani India Gurgaon | Donato Iacovone Mediterranean Milan |
| Abdulaziz Al-Sowailim MENA Riyadh | Erik Mamelund Nordics Oslo |
| Steve Varley UK&I London |
| Lou Pagnutti* Area Managing Partner, Asia-Pacific Hong Kong | Max Loh Asean Singapore |
| Keith Pogson Financial Services Organization Hong Kong | Albert Ng* Greater China Beijing |
| SeungWha Gweon Korea Seoul | Rob McLeod Oceania Sydney |
| Yoshitaka Kato* Area Managing Partner, Japan Tokyo |
| Steve Almassy Global Vice Chair, Office of the Chairman Accounts/Industry London | Ratan Engineer Asset Management London |
| Mike Hanley Automotive Detroit | Bill Schlich Banking & Capital Markets New York |
| Gil Forer Cleantech New York | Mark Beischel Consumer Products Cincinnati |
| Uschi Schreiber Government & Public Sector Hong Kong | Shaun Crawford Insurance London |
| Glen Giovannetti Life Sciences Boston | John Nendick Media & Entertainment Los Angeles |
| Mike Elliott Mining & Metals Sydney | Dale Nijoka Oil & Gas Houston |
| Ben van Gils Power & Utilities Dusseldorf | Jeff Bunder Private Equity New York |
| Howard Roth Real Estate New York | Patrick Hyek Technology San Jose |
| Jonathan Dharmapalan Telecommunications San Francisco |
*Member of the Global Executive
Global Advisory Council
The Global Advisory Council consists of 35 senior client-serving partners drawn from member firms across the four Ernst & Young Areas as well as five independent non-executives. The partners, who otherwise do not hold senior management roles, are elected by their peers. They advise Ernst & Young on policies and strategies. The approval of the Global Advisory Council is required for a number of significant matters that could affect the organization.
| Oscar Aguirre Mexico City | Mylene Levac-Wolf Montreal |
| Laurence Avram Diday Paris | Pekka Luoma Helsinki |
| Mark Beischel Cincinnati | Klaus Mangold* Stuttgart |
| Coen Boogaart Amsterdam | Jonathan McCarter Houston |
| Johan van den Bos Amsterdam | Andrew Miller St. Louis |
| Owen Chan Hong Kong | Kreesen Naidu Durban |
| John Cole London | Luiz Carlos Nannini São Paulo |
| Shirley Edwards McLean | Vic Noel Manila |
| Peter Englisch Essen | Samar Obaid Amman |
| Leslie Fiorentino Boston | Mark Olson* Washington, DC |
| Marchello Gelashvili Moscow | Tae Wook Park Seoul |
| Eric Golenvaux Brussels | Jamayssar Persaud Philadelphia |
| Francisco González Carrera Madrid | Meredith Scott Sydney |
| Shyamala Gopinath* Mumbai | Thomas Stenz Zurich |
| Kelly Grier Chicago | Penny Stocks London |
| Katsuhiko Hara Tokyo | John Thomopoulos New York |
| Istvan Havas Budapest | Akira Toda Tokyo |
| Lim Hwee Hua* Singapore | Michael Wachtel Melbourne |
| Sonu Iyer New Delhi | Steve Wills London |
| Richard Lambert* London | Donald Zimmerman Atlanta |
*Independent non-executive
Areas and Regions
Americas | EMEIA | Asia-Pacific | Japan |
Canada East Central (US) Financial Services Organization Israel Mexico and Central America (MECASA) Midwest (US) Northeast (US) South America (SASA) Southeast (US) Southwest (US) West (US) | Africa BeNe Central and Southeast Europe CIS Financial Services Organization FraMaLux GSA India Mediterranean Middle East and North Africa Nordics UK and Ireland | Asean Financial Services Organization Greater China Korea Oceania |


