Press release

1 Dec. 2022 Toronto, CA

EY acquires international financial and risk management consultancy, ifb SE

The acquisition will deepen EY finance and risk transformation services

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Victoria McQueen

EY Canada Team Lead, Public Relations

Leading the development and distribution of external communications across Canada. Can be found by the lake in the summer and on the slopes in the winter.

The acquisition will deepen EY finance and risk transformation services

EY has announced the acquisition of ifb SE (ifb), an international finance and risk management transformation and compliance consultancy, headquartered in Grünwald, Germany, with resources in Austria, Canada, Colombia, Luxemburg, Netherlands, Poland, Switzerland and the US who will join the EY organization.

“Digital transformation is at the top of the agenda for many financial services providers as customers increasingly demand better experiences from their banks or insurers — but with transformation comes risk,” says David McQueen, Consulting Managing Partner at EY Canada. “We’re excited to join forces with ifb to further the breadth and depth of EY financial and risk management transformation and compliance capabilities to help clients successfully meet their goals to innovate and evolve, while mitigating risk along the way.”

For more than 30 years, ifb has been providing high-end technology enabled transformation services in accounting, controlling, regulation, risk management and compliance. The acquisition will enhance EY finance and risk digital transformation services, enabling EY teams to provide a wider range of solutions for the financial services industry.

“This acquisition will provide ifb clients with easier access to the full range of services they require to undertake large, complex financial and risk transformation projects — from developing a holistic architecture to enabling more efficient regulatory compliance — with professionals operating under a single brand around the world,” explains Claus Stegmann, ifb Managing Director.

“ifb brings a unique technology capability, which aligns closely with EY business consulting teams’ experience, skills and knowledge,” adds Christian Moser, ifb Managing Director. “The combination of ifb’s services in technology and business consulting, and EY’s broader consulting services, will provide an even more powerful value chain to support clients in the finance transformation space.”

As a global SAP Partner for more than 25 years, ifb also brings broad experience and know-how in financial services SAP domain and architecture, which will enable EY teams to provide stronger transformation services, particularly in SAP transformation projects.

“As the pressure rises for financial services firms to transform their business, leading organizations are collaborating with the EY Alliance ecosystem — including SAP — to co-create and drive transformation, performance and growth,” shares Nima Parsi, Consulting Partner at EY Canada. “ifb has built a strong global brand as a trusted transformation and solutions delivery partner — both with clients and our Alliance Partners — and we’re excited to welcome the team in Canada to drive even greater growth in our market.”

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This news release has been issued by Ernst & Young LLP.