Press release

Hedge fund managers rank EY top global accounting firm

New York, 25 March 2014

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Hedge fund managers voted EY as the top global accounting organization in this year’s Institutional Investor’s Alpha 2014Alpha Awards. As with the overall global ranking, EY also captured the crown in all five of the aspects of service on which hedge fund professionals were asked to rate accounting firms: audit, tax, regulatory and compliance, client service and hedge fund expertise.

“This award is particularly significant because it is based on how managers across the globe feel about the work we do for them,” said Art Tully, Partner, Financial Services, Ernst & Young LLP, and EY Global Hedge Fund Services Co-Leader. “It’s great to see that the industry recognizes and values EY’s deep-rooted global presence as well as our audit, tax and regulatory knowledge, particularly as we continue to make strategic hires – including former regulators – to help hedge fund managers navigate today’s complex environment and to prepare them to handle the challenges ahead.”

According to Institutional Investor’s Alpha, hedge fund managers praised EY firms for delivering the most added value in tax services and audit support. One manager said that EY has “an excellent standard across all that we use them for,” and another said EY is “perfect – what you want from your audit/tax provider.” Managers also cited EY firms’ ability to adhere to tight timetables as an important quality.

“These awards reflect our continuous efforts to exceed client expectations. We are proud that our clients continue to choose us as their global partner to help guide them through the evolving hedge fund industry as they face a number of challenges – from new regulatory requirements to data management,” added Michael Serota, Partner, Financial Services, Ernst & Young LLP, and EY Global Hedge Fund Services Co-leader.

Ernst & Young LLP was also recently named Best Accounting Firm by the HFMWeek 2013 U.S. Hedge Fund Service Awards for the fifth consecutive year and the EY organization, ranked as the top global audit and accounting service provider by Hedge Funds Review, for the third consecutive year, as well as Best Advisory Firm in the HFMWeek 2013 European Hedge Fund Services Awards for the third consecutive year.

EY is a leader in serving the global financial services marketplace
Nearly 35,000 EY financial services professionals around the world provide integrated assurance, tax, transaction and advisory services to our asset management, banking, capital markets and insurance clients. In the Americas, EY is the only public accounting organization with a separate business unit dedicated to the financial services marketplace. Created in 2000, the Americas Financial Services Office practices today include more than 6,500 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.

EY professionals in our financial services practices worldwide align with key global industry groups, including EY's Global Asset Management Center, Global Banking & Capital Markets Center, Global Insurance Center and Global Private Equity Center, which act as hubs for sharing industry-focused knowledge on current and emerging trends and regulations in order to help our clients address key issues. Our practitioners cover many disciplines and provide a well-rounded understanding of business issues and challenges, as well as integrated services to our clients.

With a global presence and industry-focused advice, EY’s financial services professionals provide high-quality assurance, tax, transaction and advisory services, including operations, process improvement, risk and technology to financial services companies worldwide.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

This news release has been issued by Ernst & Young LLP, a member of the global EY organization that provides services to clients in the US.

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