Ernst & Young strengthens its pole of expertise in banking advisory services
Luxembourg, 24 January 2011
Ernst & Young continues to strengthen its advisory practice through the integration of a new team specialized in Private Banking advisory services. This team, led by Etienne Hirsch, will advise banks on the expansion of their local and international Private Banking activities, supported by the Private Banking specialists of our integrated EMEIA (Europe, Middle East, India and Africa) network. “The Luxembourg Private Banking market is undergoing its deepest strategic repositioning since its inception. We would like to accompany our clients in this key transformation process to support their future growth and thus have decided to invest in our advisory capacities in that field through several initiatives. Two examples of such investments are the recruitment in our Luxembourg office of senior Private Banking advisors with strong credentials as well as a stronger involvement of our EMEIA Private Banking specialists. We work in particular closely with our Swiss colleagues who support us in developing solutions for the Luxembourg Private Banking market that draw on international experience and successes" says Alain Kinsch, Country Managing Partner of Ernst & Young in Luxembourg.
Etienne Hirsch (40) holds a master degree in international risk management of the HEC business school and has gained 13 years of professional advisory experience. He is specialized in income generation and operational efficiency of banks, with a strong focus on Private Banking. „Banks face complex strategic and organizational challenges which can affect several locations. They are looking for the support of qualified advisors with a local and international perspective“, explains Etienne Hirsch. Formerly Director of the Advisory department of another Big 4 firm in Luxembourg, he now holds the position of Directeur Associé and will, as such, participate in leading the advisory activities of Ernst & Young in Luxembourg.
Erwan Floch (34) has also joined Ernst & Young Luxembourg as Senior Manager in the advisory practice . Drawing upon 11 years of professional experience, he will be entrusted with the development of the advisory activities with banks. In recent years, Erwan has specialized in operational strategies, improvement of business processes and operational efficiency.
Strengthening the Ernst & Young’s advisory practice also includes a stronger refocusing of its tax services in the banking sector, through the integration of a new Director within its premises in Munsbach, Luxembourg:
Thomas Hartwell-Krämer (38) has therefore joined Ernst & Young Luxembourg as a director in the tax practice. With more than 13 years of professional experience as a lawyer and tax advisor, Thomas will focus on tax services to banks and their clients. During the last couple of years, he has gained a substantial experience in advising banks and their private banking clients, with a strong focus on the increasing need for tax transparent cross-border structuring involving several jurisdictions. Thomas will play an important role in Ernst & Luxembourg's continued strong focus in this market.
The press release is also available in French and German (pdf, 624.7kb) .
Posted on 27 January 2011