EY promotes record number of partners – 39% in the Americas

EY announces 1,033 new partners across its global member firms, the largest number to date – 39% in the Americas, and one-third globally are female

Professional services firm EY has announced a record-breaking 1,033 partner promotions globally in 2022, up from 830 last year.

This comes as the other three Big Four firms also promote a record number of partners on the back of unprecedented demand for the industry for digital transformation related services.

Describing them as “transformative leaders”, EY Global Chairman and CEO Carmine Di Sibio said their promotions were the “result of their dedication to the EY purpose of building a better working world”.

The Americas’ member firms saw the second-largest share of partners with 423 promotions, 39% of the total, up from 341 promotions in 2021. The largest share of partners came from EY’s European, Middle Eastern and African (EMEIA) member firms – with 423 promotions, or 41% of the overall elections, and Asia-Pacific 212 promotions (20%).

Women accounted for 32% of partner promotions globally, a nod to the firm’s efforts in continuing to improve its gender balance at a senior level.

With EY best known for its accounting and auditing work, assurance accounted for the largest proportion of partner promotions (33%).

However, its fast-growing consulting function – which has seen increased demand post-pandemic – took 26% (265) of new partners, rising one point from last year. Strategy and Transactions, Tax, and Business Support accounted for 16%, 23% and 2%, respectively.

EY sees boost in revenue, with consulting function in demand

This announcement follows a successful financial year for the professional services firm, with its most recent report revealing a boost of 7.3% in revenue, pushing its global income to US$40bn with growth across all service lines and geographical areas.

And these new appointments reflect the firm’s increased investment in certain sectors, including in technology consulting, financial services, sustainability, energy and consumer products, as well as in regional offices.

In particular, the Big Four giant has seen growth of its consulting business, fuelled by demand from clients implementing large scale, strategic transformation programmes, enabled by technology, data, and people.

Last year, EY reported strong growth across all its service lines, announcing global revenues of US$40bn for the financial year ended June 2021, an increase of 7.3%.

EY has more than 25,000 consultants across the Americas, and are led by recently appointed EY Americas Vice Chair Raj Sharma, an innovative technologist with a 25-year track record of being at the forefront of growth and change, most recently serving as Managing Partner of the EY Americas Financial Services Organisation.

This comes as EY looks to spin off its consulting arm, as the separated audit and advisory businesses will be able to grow faster than in its current combined form.

Big Four firms all promote record number of partners

Unprecedented demand for consulting and tax services since the onset of the pandemic, and with acceleration of digital transformation, has seen all Big Four firms raise their partner promotions to record levels.

This month, PwC welcomed its largest partner class to date, some 283 individuals, made up of 54% women and/or racial/ethnically diverse professionals, an increase from last year.

Share

Featured Articles

Sustainability, ESG, net zero in focus at must-attend event

Sustainability takes centre stage at two-day hybrid conference featuring thought leaders covering circular economy, scope 3, ESG, B Corp, net zero, DE&I

Must-attend sustainability events for executives in 2022/23

Discuss and debate the most pressing issues around sustainability at these nine executive events – from London to Abu Dhabi, San Diego to Singapore

Meet the CEO on a mission to nurture women leaders in Africa

The argument for women leaders in Africa is compelling, yet numbers are small. But one female leader is on a mission to change that – Awamary Lowe-Khan

BCG's Daniel Weise on supply chain and procurement strategy

Leadership & Strategy

Flexible work perks heat up as the war on talent rages

Human Capital

Meet the COO: Former Israel Defense Force cyber lead Parnes

Technology & AI