EY-Parthenon has considerably expanded its measurement and international footprint with the addition of EY’s full Technique & Transactions staff, lifting its headcount to over 25,000 individuals throughout 150 nations.
Established in 2014 following EY’s acquisition of The Parthenon Group, EY-Parthenon is the corporate’s technique consulting outfit. Underneath EY’s wings, EY-Parthenon grew from its preliminary measurement of 350 employees to over 9,000 initially of this 12 months – however that quantity is now being almost tripled following the bolt-on of EY’s Technique & Transactions enterprise.
The deal will see EY-Parthenon increase its capabilities from strategic companies resembling company technique, mergers & acquisitions (primarily industrial due diligence) and industrial technique to additionally embody a spread of companies round monetary advisory (company finance, transaction help, restructuring), efficiency enchancment (worth creation, optimization), and enterprise transformation.
Andrea Guerzoni, EY-Parthenon’s World Vice Chair stated that the transfer is designed to deliver collectively the complete technique and administration consulting capabilities of the group underneath one roof.
“At a time of heightened geopolitical uncertainty and relentless tech-driven transformational change, shopper demand round strategic consultancy is evolving. This newly expanded proposition is assembly these new calls for, specializing in delivering real-world worth – options that work in apply, not simply on paper.”
“With its deep practical expertise and sector capabilities, progressive AI-powered expertise and investor mindset, EY-Parthenon collaborates with CEOs, boards, non-public fairness and governments on each step of their transformation journey – serving to them to form the longer term with confidence.”
Janet Truncale, EY World Chair and CEO, added: “Increasing the EY-Parthenon model is a pivotal step in reinforcing EY’s strategic consulting choices to fulfill the challenges of tomorrow. The strengthened EY-Parthenon will assist ship on our mission and drive worth for C-suite and boards.”
“To offer CEOs and boards the arrogance to reshape their corporations’ futures and safe an edge in as we speak’s advanced and unsure panorama, the EY-Parthenon proposition has been reimagined and expanded,” stated Jad Shimaly, EY World Managing Accomplice for Consumer Service. “Shoppers will profit from a novel mixture of worldwide attain, deep sector data, full-spectrum capabilities, seamless cross-border collaboration, and proprietary AI expertise and knowledge.”
Market place
With the inner reshuffle, EY now boasts the biggest technique consulting arm of the Large 4. Deloitte’s technique enterprise, Monitor Deloitte (which was fashioned after Deloitte purchased Monitor Group in 2013), has round 6,000 employees, whereas PwC’s devoted technique enterprise, Technique& (fashioned after PwC purchased Booz & Firm in 2014), has circa 4,500 professionals. The smallest of the 4, KPMG’s World Technique Group, has round 4,000 employees.
With round 25,000 individuals, the deal will see EY-Parthenon by way of headcount overtake the likes of Oliver Wyman (7,000) and Bain & Firm (20,000), however stay behind market leaders McKinsey & Firm (45,000) and Boston Consulting Group (32,000).
Branding and investments
As a part of EY-Parthenon’s transition, the agency has refreshed its model id in keeping with the EY’s “Form the longer term with confidence” model growth introduced in June final 12 months.
In the meantime, EY-Parthenon has additionally introduced it is going to make a $250 million funding in its AI-tools and collaborations with companions resembling Microsoft and together with Open AI.
