EY expands Yorkshire workforce as revenues hit £2.41bn
EY increased its UK revenue by 2.7%, just half the rate of its previously-slowest growth in the last eight years, although it still reached a record high of £2.41bn – up from £2.35bn in the previous year.
The Big Four accountancy firm’s growth was also just half the rate of growth of two of its competitors – PwC’s UK revenues were up 5% to £3.76bn and Deloitte rose 6% to £3.58bn. KPMG UK reports its annual results in December.
Profit growth in the year to June was also relatively slow – distributable pre-tax profits were up 1.7% to £472m while average distributable profit per partner increased by 2.4% to £693,000.
EY said it had expanded its Yorkshire operations for the year ending 30 June; its 394-strong Yorkshire operation, comprising offices in Leeds and Hull, grew staff numbers by 7% during the year. In January, EY appointed Mark Allcroft as Partner and Head of Transaction Support for Yorkshire and the North East.
Rob Jones and James Moore also recently relocated to lead and build out EY’s Debt Advisory and Transactions Tax businesses in the North, and earlier in the year Hilary Heap and Mark Clephan were made Partners in the firm’s Valuations & Business Modelling and Corporate Finance teams respectively.
Suzanne Robinson, Yorkshire’s Senior Partner, leads EY’s Financial Accounting Advisory Services (FAAS) team across the North of England and Scotland. She said: “EY sees a large part of its future growth coming from the regions and that’s why we are investing in our regional teams across all levels. In Yorkshire that means recruiting talent from the local market but also attracting people who choose to relocate, recognising that they are able to build their career at EY here, without having to be based in the Capital.
“The increasing seniority of some of the appointments and investment decisions being made in the North demonstrates EY’s recognition that its leadership structure needs to include those who can give insight and perspective on what’s happening across regional markets to ensure EY remains responsive to the business landscape across the whole of the UK.”
