and Top 50 table
All service lines experienced a revenue increase, but corporate finance saw the largest growth with an 11% rise. Much of this, the firm says, is down to its corporate restructuring practice where ten former Andersen partners and 170 staff have been accommodated.
The figures outstrip the global results of PricewaterhouseCoopers and Deloitte & Touche, both of which recorded growth rates of around 1%. Deloitte experienced a UK growth rate of 15.7% for the year end May 31 2002, while PwC do not publish.
Nick Land, Ernst & Young chairman said that while he wasn’t ‘going to stand on the rooftop and shout yaboo’ he was happy to have ‘beaten the market’.
‘Corporate activity has reduced from around 20% peak to a flat growth market,’ he said. ‘Even to stand still you have to go out there and win a lot of work.’
He also conceded that if the Anderson clients were stripped out of the equation, the results would be flat or the firm would have recorded ‘small growth.’
As for the future, Land said he is not expecting an upturn in this financial year and said the firm ‘would be cautious for next year as well’.
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting