EY’s global strategic review of its businesses has progressed, and EY global has reached the decision to move forward with partner votes for participating countries to separate into two distinct multidisciplinary organizations.
As all member firms in the EY global network operate in their own distinct and often very different markets and regulatory landscapes, each individual member firm can decide whether to participate in the separation pursuant to its governance processes.
In consideration of the business environment and development stage within which EY Greater China Region operates, the decision in respect of the EY Greater China Region member firms (which covers mainland China, Hong Kong, Macau, Taiwan and Mongolia locations) is that we are unable to participate in the separation as proposed by EY global at this juncture.
The EY member firms in the EY Greater China Region are owned and managed by local partners. We have been providing professional services in the region for over 55 years and are proud of our legacy. We will maintain the existing organizational structure and continue to offer integrated, multidisciplinary professional client services in Greater China.
We will stay true to our pledge to the country, society and our clients to lead high quality and sustainable growth with best-in-class talent, innovation, entrepreneurship and corporate responsibility, and are committed to creating long-term value to be the most trusted professional services organization.
EY Greater China Region will remain proud member firms of the EY global network and will integrate EY global resources to serve our clients in the Greater China Region.
EY Greater China Region has no further comment to add.