Ernst & Young applauded for the success of its new EMEIA structure at annual MPF European Practice Management Awards - Ernst & Young - United Kingdom

London 22 October 2009: Ernst & Young triumphed last night at the annual Managing Partners’ Forum (MPF) European Practice Management Awards, held in London, walking home with the award for Exceptional Achievement.

The accolade was in recognition of the integration of all of Ernst & Young’s 87 country practices in Western and Eastern Europe, the Middle East, India and Africa into a new EMEIA (Europe, Middle East, India and Africa) Area, on 1 July 2008. 

Steve Varley, head of markets, UK & Ireland, at Ernst & Young accepted the award on behalf of the firm, presented by Sir Nigel Knowles founder and executive director of the Managing Partners’ Forum. Varley told the great and the good that the integration had made a real difference in enabling the firm to weather the downturn.

“I am very proud to accept this award on behalf of the firm. It’s an honour to receive an award for a move that we believe has set a new standard for the professional services industry,” Varley said.

“The decision to integrate 87 country practices reflects the increasingly global nature of our borderless business environment, which has changed the expectations of our clients and our people and requires nothing less than a truly global approach from our organisation.”

At the time the move was seen by many as the first major shake-up of the industry for some years, with the Financial Times describing it as “the boldest shift by a Big Four firm to overcome the country-level legal and regulatory restrictions that have limited the national partnerships and frustrated their efforts fully to mirror the global reach of their multinational clients."

Ernst & Young’s latest annual results revealed that its EMEIA Area grew 1.8% in local currencies in the financial year to 30 June 2009 – the second fastest growth within Ernst & Young globally – while headcount was up on last year to 69,000. The major emerging markets within EMEIA such as the Middle East and India posted remarkable growth of 19% and 13% respectively. Highlights in the developed markets included the UK which recorded 8% growth.