PracticeAccounting FirmsE&Y strengthens its hand in South America

E&Y strengthens its hand in South America

Ernst & Young has signed an agreement to merge with the Argentine firm of Pistrelli Diaz, to create a firm with revenues in excess of $100m (£70m) and professional staff numbering more than 1,500.

The deal follows hot on the heels of a similar agreement reached with Chilean firm Langton Clarke to form the largest accountancy firm in that country, with over 1,000 professional staff.

According to a statement from Ernst & Young, the deal in Argentina has the unanimous approval of partners at both firms.

Jorge Verruno, managing partner of Pistrelli said the firm’s partners were ‘highly satisfied’ with the deal, adding:

‘This integration is a positive move for both firms and will substantially strengthen our position and our capabilities in Argentina and Latin America as a leading professional services firm.’

Earlier today, E&Y announced it planned to complete a full merger with fragmenting Big Five firm Andersen for its practices in Latvia, Lithuania and Estonia.

Related Articles

Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

2d Karen Baxter, Lewis Silkin
Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

2m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin