Big Four firm EY appoints 71 new equity partners

Top accountancy practice EY has today shown its dedication to continued growth by hiring 71 new equity partners.

Out of the 71 new partners, 41 were promoted internally, while 30 were direct entry Partners who joined the firm from both competitor practices and from industry roles.

Alongside this, 63 associate partners were promoted, making the total number of promotions 134 since 1 July.

Growth is the long-term goal, since last year EY appointed 63 new equity partners which was a 13% increase year on year.

Steve Varley, EY UK chairman, said: “Congratulations to all our new partners. This is a significant milestone and each and every one of them have worked extremely hard to get to this stage of their career.

“These appointments are a reflection of both their individual skills, as well as the investments we are making across all our business areas and regions.

“This year I’m particularly pleased to see that we have increased the number of Black and Minority Ethnic Partners among our new intake and that our efforts to diversify our senior leadership roles are making a difference. However, there is still more to do and we are re-focusing our efforts to accelerate the pace of change, which is critical for the success of our own organisation.”

Over 15% of EY’s newly appointed partners are BME, up from 5% last year and exceeding the firm’s current target of having at least 10% BME among its new partner promotions.

The number of women appointed to new partner roles was less than the target – it was 22% while the firm are aiming for 30% among its partners. Nonetheless, EY topped our latest women in finance ranking showing they are moving in the right direction.

EY set targets in 2013 to have at least 10% BME and 30% female representation among its cohort of new partners, measured on a three-year rolling period. This year the figures stand at 13% and 24% respectively.

Justine Campbell, EY’s new managing partner for talent in the UK & Ireland, said: “The future of our business, and others, depends on our ability to be innovative in an incredibly fast-paced world. To make that happen we must have a workforce that has diversity of thought, perspectives, experiences, and skills.

“Whilst we have made strides in improving the diversity of our new Partner admissions, we must continue to apply the minds of our most innovative people, to find a way for us to super charge our progress on this agenda.

“There is a real desire within EY to effect change on this important issue.”