EY on recruitment drive after strong year

EY, the accountants and business advisory firm, has reported a 6% rise in annual revenues to £1.7bn and says it will hire 2,400 people in the UK over the next year.

The firm, which has more than 500 people based in Liverpool and Manchester, said it is looking to boost its regional businesses, offering more than 1,000 jobs and student places outside London.

Profit to be divided amongst its 565 UK partners for 2013 was 11% higher at £368m. Average distributable profit per partner for 2013 was up 9% to £651,000 up from £597,000 in 2012.

North West senior partner Simon Allport, who has recently been appointed to the firm’s UK Leadership Board with responsibility for the North of England and Scotland, said the firm’s “strong revenue growth” over the last three years, bodes well for the future.

He added: “Our success boils down to delivering exceptional client service and continual investment in our people.

“With increased momentum in our business, we intend to recruit 3,700 people across the UK in the coming year; a third of which will join in regional hotspots outside of London, including the North West. Our regional markets present a major growth opportunity for the firm.

“Globalisation and pursuing opportunities in fast growth markets overseas, continues to dominate the thoughts of our client base and indeed fuels our pipeline.

“Our highly flavoured entrepreneurial market in the North West demands advisers that can connect them to markets around the globe, be it Rio de Janeiro, Istanbul, Moscow or Mexico City.

Mr Allport added: “There is a real sense of confidence in our business for the year ahead, which we aim to capitalise on here in the North West.”

Globally EY reported revenues of $25.8bn for the 12 months to June 28.

In the UK the firm grew in three out of four of its service lines. Advisory posted growth of 17% to £486m (£416m in 2012), Assurance and Tax both grew by 6% to £507m (£478m) and £455m (£431m) respectively, while Transaction Advisory Services (TAS) posted an 11% decline in revenues to £273m (£306m).

Steve Varley, chairman and managing partner UK & Ireland at EY, said, “Posting 6% organic revenue growth at a time when business investment levels in the UK remain historically weak, is a good achievement.

“I am very encouraged by the increased level of confidence and momentum in our UK business, as the economy continues its recovery.”