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EY Survey: Opportunity for Private Equity to Prosper, but Margin Concerns Remain

Outsourcing is touted as one of the key ways that firms can address margin compression; CFOs note talent management, especially gender and cultural diversity, as a top priority.

Originally Published by EY.

Private equity chief financial officers (CFOs) reported another year of unprecedented growth of their firms but are still struggling to overcome operational issues that are dramatically eroding their margins, according to the EY 2019 Global Private Equity Survey, How do you see the opportunity in your obstacles?

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EY Transaction Advisory Services Unifies Infrastructure and Appoints New Leadership

The goal is to provide holistic services to public and private-sector clients who are developing, financing, operating, transforming, acquiring or divesting infrastructure.

Originally Published by EY.

EY Transaction Advisory Services (TAS) has announced an initiative to unify its infrastructure capabilities across practices in the Americas and appointed new leadership. TAS's consolidated Americas revenues exceeded $2b in FY18 and the EY infrastructure offerings will be a key area of investment going forward. Mike Parker, former head of Ernst & Young Infrastructure Advisors, LLC (EYIA), will serve as the EY Americas Infrastructure Leader and Connie Cassidy, a senior transaction diligence partner, will lead Infrastructure Private Equity in the Americas. Tom Rousakis, Senior Managing Director, EYIA, will succeed Parker.

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EY Global Chairman and CEO Mark Weinberger to Step Down Effective July 1, 2019


Within the organization, Weinberger championed increasing diversity at all levels and creating a more inclusive culture.

Originally Published by EY.

EY announces that Mark Weinberger will step down from his role as EY Global Chairman and CEO effective from July 1, 2019 – the start of its financial year 2020.

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EY: Millennial Outlook Tempered Despite Strong U.S. Economy

EY releases results of second national poll exploring millennial views on economic future, including business, career prospects and student debt.

Originally Published by EY.

Ernst & Young LLP (EY) released the results of a survey of Millennials across the country, highlighting how the generation has defined itself a decade after the Great Recession. The results reveal that while Millennials are progressing more quickly than they were just a few years ago, they are still risk averse – delaying home ownership, marriage and new business endeavors – and uncertain about their economic future as they manage high levels of student debt and costs of living.

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Former FBI Executive Assistant Director Carl Ghattas Joins the EY Government & Public Sector Advisory Practice

"I was drawn to EY because of the firm's commitment to a set of core values similar to those which framed my years of service in the FBI."

Originally Published by EY.

Ernst & Young LLP (EY) announced that former FBI Executive Assistant Director Carl Ghattas has joined the firm as an Executive Director in the Government & Public Sector Advisory practice. Carl retired from the FBI after 21 years of service, culminating in his duties as the Executive Assistant Director (EAD) of the FBI's National Security Branch from February 2017 to July 2018.

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EY Explores Belonging in the Workplace, with New Belonging Barometer Study

Research uncovers that workers prefer check-ins and personal connections over facetime with senior leadership.

Originally Published by EY.

While today's social climate has been associated with controversy and disagreements, it also seems to be banding people together in a more positive way – surprisingly at work. Regardless of background, gender, sexual orientation or race, individuals are coming together in search of a sense of community and belonging, with many expecting and finding it within the workplace. In fact, in the context of work, research shows that when people feel like they belong, they are more productive, motivated and engaged as well as 3.5 times more likely to contribute to their full, innovative potential.

The new EY "Belonging Barometer" study uncovers how more than 1,000 employed adult Americans define belonging, what makes them feel like they belong at work and what makes them feel excluded in the workplace.

Key finding one: Diversity and Belonging are Workplace Expectations

Nearly half of American workers believe that diversity is best represented at work and over a third feel the greatest sense of belonging at work.

  • Forty-five percent of respondents believe that diversity is best represented at their place of work
  • Second only to home (62 percent), one third (34 percent) of respondents feel the greatest sense of belonging at work, ahead of their physical neighborhood (19 percent) and place of worship (17 percent)
  • When asked in what ways do you feel like you belong at work:
    • More than half (56 percent) of respondents feel they belong most at work when they feel trusted and respected, with baby boomers feeling this way the most at 63 percent, compared to Gen X at 56 percent and millennials at 53 percent
    • Thirty-nine percent of respondents feel they belong most at work when they have the ability to speak freely and voice their opinion
    • One third (34 percent) feel they belong most at work when their unique contributions are valued, with White respondents agreeing the most at 36 percent, followed by Black respondents at 31 percent and Hispanic respondents at 27 percent

Key finding two: Regular Check-ins Prevent Workers from Checking Out
Thirty-nine percent of respondents say that when colleagues check in with them about how they are doing both personally and professionally, they feel the greatest sense of belonging at work.

  • 44 percent of women and 33 percent of men agree
  • This response was most popular across all generations, with 35 percent of millennials, 40 percent of Gen X and 45 percent of baby boomers agreeing
  • Across all generations, the "check-in" took priority over actions such as public recognition (23 percent), being invited to out of office events (20 percent), being asked to join a meeting with senior leaders (14 percent) and being included on emails with senior leaders (9 percent)

Key finding three: Is Exclusion a Form of Bullying? Women Seem to Think So
The majority of women (61 percent) believe that exclusion is a form of bullying in the workplace, the majority of men (53 percent) believe it is not.

  • More than half (54 percent) of all respondents believe that exclusion is a form of bullying at work, 46 percent do not
  • 68 percent of the LGBTQ community believe that exclusion is a form of bullying
  • Fifty seven percent of Latino respondents believe that exclusion is a form of bullying, compared to 53 percent of White respondents and half (50 percent) of Black respondents
  • Generationally, nearly half of millennials (48 percent) feel the strongest that exclusion is nota form of bullying, compared to 46 percent of Gen X and 44 percent of baby boomers

Key finding four: The Emotional Barometer: Social Exclusion Makes People Feel Physically Ignored, Stressed, Sad and Even Angry
When social exclusion happens at work, people feel physically and emotionally isolated. More than 40 percent of respondents across generations and genders feel physically alone, or in other words, ignored. Others also experience feelings of stress (26 percent of males) and sadness (28 percent of women).

  • Generationally:
    • Millennials are most likely to feel ignored (38 percent), stressed (30 percent) and lonely (24 percent)
    • Gen X are most likely to feel ignored (41 percent), stressed (27 percent) and sad (26 percent)
    • Baby boomers are most likely to feel ignored (45 percent), angry (26 percent), stressed (21 percent) and sad (21 percent)
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EY: Over Half of US Executives Plan to Pursue M&A Amid Steady Economic Growth and Heightened Geopolitical Uncertainty

Tapping new markets, navigating trade policy, and adapting to new customer behaviors are cited as top strategic drivers for M&A.

Originally Published by EY.

Encouraged by strong economic conditions in the US, but cognizant of a changing global business and political landscape, 51% of US business executives intend to pursue M&A over the next 12 months, while 54% expect an increase in their deal pipelines over the same time period, according to Ernst & Young LLP's (EY) twice-annual Capital Confidence Barometer (CCB).

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Retired US Army General Dan Allyn Joins the Ernst & Young LLP Government & Public Sector Advisory Practice

Allyn learned very early as an Army leader that the only true legacy one leaves behind are the leaders you help coach, teach, mentor and develop along the journey.

Originally Published by EY.

Ernst & Young LLP (EY) announced that former US Army Vice Chief of Staff, General (Retired) Dan Allyn, has joined the firm as an Executive Director in the Government & Public Sector Advisory practice. Dan retired from the Army after 36 years of service, culminating in his duties as the 35th Vice Chief of Staff of the Army (VCSA), from 2014 to 2017.

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Failure Drives Innovation, According to EY Survey on Gen Z

More than two-thirds of Gen Z respondents also value curious, open mindsets over skillsets.

Originally Published by EY.

When it comes to failure, Gen Z is not afraid to embrace it. In fact, more than 80 percent of Gen Z think that embracing failure on a project will help them to be more innovative and 17 percent believe that it will make them more comfortable to take on new risks, according to a recent survey of 1,400 Gen Z individuals at the 22nd EY annual International Intern Leadership Conference (IILC) this summer.

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EY reports record global revenues of US$34.8b in 2018

This marks eight years of balanced and strong growth across all businesses and geographies, and the results come as the company makes significant investments in audit quality and the training of employees in new and emerging technologies.

EY announces combined global revenues of US$34.8 billion for the financial year ended June 2018. Overall, financial year (FY) 2018 revenues grew by 7.4% in local currency and 11% in US dollars (versus FY17). All EY service lines delivered strong growth in FY18: in local currency Assurance grew 4.4%; Advisory 10.1%; Tax 6.4% and Transaction Advisory Services (TAS) 13.9%. Over the five years since the launch of its Vision 2020 plan in 2013, EY has recorded strong 8.5% compound annual growth.

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EY Analysis: Professional Athletes Alleged Almost $500 million in Losses as Fraud Targeting Them Continues to Rise

Common theme linking athlete fraud schemes is gaining victim's trust and leveraging relationship for fraudster's own financial gain.

Originally Published by EY.

With massive salaries and lucrative product endorsements and sponsorships, it is no surprise that fraudsters target professional athletes. What is surprising however, is the fraudsters' success.

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Ethan Schiffman joins EY Financial Services Organization

Before joining EY, Schiffman was the Global Head of Tax with Morgan Stanley's Tax Department. He served in various senior roles during his 17 years with Morgan Stanley, including a term as Deputy Global Head of Tax as a managing director.

Originally Published by EY.

Ernst & Young LLP (EY) announced that Ethan Schiffman has joined EY as a Principal in the Tax Group of the Financial Services Organization (FSO). With more than 20 years of technical tax, financial accounting and tax risk management experience, he will bring invaluable commercial insights to EY's dynamic FSO Tax practice. He is expected to play key roles on several of EY's largest clients in the financial services industry.

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