EY Australia appoints 26 new partners in consulting division
EY Australia has appointed 73 new partners, with more than one-third, or 26, of the partners based in the firm's consulting division.
The news comes shortly after EY crowned itself as the fastest growing Big Four firm in Australia, having unveiled FY20 revenue growth of 12.7% to $2.13 billion. In comparison, the second fastest grower of the quartet, Deloitte, booked 10.0% growth, while market leader PwC saw its fee income remain flat. Meanwhile, KPMG enjoyed 7% growth.
Over half of all new partner appointments, or 42, stemmed from EY's acquisitions of smaller consulting firms, such as economics consultancy Cadence and cybersecurity firm Aleron. The notable acquisition of Port Jackson Partners also added a number of partners to its ranks, however the strategy consultancy has been integrated within EY’s Strategy & Transactions division, which formally houses its EY-Parthenon wing.
An overview of the new partners in EY’s consulting division:
Alex Morkos
Anthony Simkins
April Tin
Chee Kong Wong
Craig Simpson
David Boyle
Donna Enverga
John Riccio
Ken Maxwell
Mark Wroniak
Michael Sikh
Permenthri Pillay
Philippe Konfino
Richard Bergman
Sara Golubenko
Alina Humphreys
Claudio Conca
Darren Maddick
Goran Stojanoski
Louise MacDonald
Megan Holt
Rohan Vijay Bhingarde
Sarah Elphick
Tenille Chamclam
Wayne Vickers
Yuri Melo
Across the business, 22 new partners were appointed in the Strategy & Transactions division, 15 in Tax, and the 10 other partners work in Assurance and Corporate Staff divisions.
According to EY Oceania chief executive officer Tony Johnson, consulting’s dominance in the partner intake reflects the booming demand the unit has faced in the past year, in particular in areas such as business model design, digital transformation, regulatory change and technology work.
The Covid-19-induced downturn has however impacted the wing’s performance to a larger extent than the audit practice, and the division’s managing partner Justin Greig has taken measures to navigate the changing environment.
At EY, all partners are equity holders, which means that they share in the profits of the firm as opposed to salaried partners who are compensated through a fixed salary. The model is different to the one used by three other Big Four firms, who have both equity and non-equity partners in their leadership.
