EY to become one of the largest restructuring advisors in Canberra
Monday 14 September 2015
EY Australia has moved to acquire the business of leading Canberra professional services partnership Kazar Slaven.
The acquisition will make EY one of the largest restructuring advisors in Canberra.
EY Transactions Leader Julie Hood said the addition of the Kazar Slaven team to EY, including founding partners Henry Kazar and Michael Slaven, was part of the firm’s strategy to extend its capabilities in corporate restructuring across Australia.
“The acquisition will accelerate expansion of EY’s transaction and restructuring capabilities by further growing our Canberra services to deliver insolvency and business advisory solutions to clients,” Ms Hood said.
“By delivering end-to-end corporate and personal insolvency, turnaround and advisory solutions in the nation’s capital, we will advance our integrated service offerings across Australia – particularly in the banking, corporate, government and public sectors.”
Ms Hood said the acquisition would see EY Australia’s corporate restructuring team grow to more than 70 people nationally.
“It’s a very exciting development for EY, particularly given growing demand in the private sector in Canberra and changes occurring throughout the public sector right now,” Ms Hood said.
Kazar Slaven partners Henry Kazar and Michael Slaven will join EY’s Transaction Advisory Services Restructuring team in Canberra as partners. Twelve Kazar Slaven employees will be made offers of employment by EY.
Kazar Slaven founding partner Henry Kazar said: “We’re thrilled to be joining EY.”
“EY is a leader in corporate restructuring and this will enable us to combine our expert skills and local knowledge with greater depth of services. Being part of a global organisation will also provide us with access to broader markets for our services and enhanced career development opportunities for our people,” Mr Kazar said.
The acquisition is intended to be completed by the end of September 2015.
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 Australia, a member firm of Ernst & Young Global Limited. Liability limited by a scheme approved under Professional Standards Legislation.