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Consulting Leadership News: Ernst & Young, L.E.K., Huron, ECS, PA Consulting, KPMG and Aon Hewitt
Monadnock Research - 20 January 2012
Ernst & Young appoints Mark Weinberger as next Global CEO and Chairperson. L.E.K. names Stuart Jackson North America President; Appoints 6 new Partners. Huron appoints former Accenture executive as Managing Director and leader of Clinical Solutions practice. Huron promotes Gerri Birg, Sandra Dodds, Michael Gladson, Neera Gupta, Michael Kemper, Jason Moebius, Scott Pillittere and Joe Sneddon to Managing Director. ECS appoints George Wilson as President. PA Consulting names Dave Smith Group Technology Leader. Andrea Schaffell named Director of PA Shared Services and Outsourcing practice. KPMG appoints David Hansell Head of global Human Social Services practice. Aon Hewitt's Head of Investment Consulting, Andrew Tunningly, departs. (1,825 words) . . . More
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And in other news: Ernst & Young, Aon Hewitt, ECS and Navigant
Monadnock Research - 18 January 2012
Operational Risk & Regulation Magazine releases results of its 2011 consultancy rankings of the top 10 operational risk management consulting practices. Ernst & Young takes the top spot in anti-money laundering, corporate governance, regulation strategy, Basil II and III, treating customers fairly, fraud and financial crime prevention, and enterprise-wide compliance and risk management strategy. Aon Hewitt signs agreement with Birches Group to remarket compensation surveys. ECS acquires Paradigm Technologies. Navigant shareholder sues, claiming excessive executive compensation. (753 words) . . . More
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Consulting Leadership News: Roland Berger Strategy Consultants, Simon Kucher, Heidrick & Struggles, KPMG, PricewaterhouseCoopers, Ernst & Young, Capgemini, FTI Consulting, Charles River Associates, Aon Hewitt, Celerant, CACI, CSC and Booz Allen
Monadnock Research - 15 December 2011
Roland Berger opens offices in Jakarta, Dubai and Lagos; Appoints 26 new international Partners; Partners elect two new Supervisory Board Members. Simon-Kucher appoints 8 new Partners. FTI opens new office in Jakarta. Rebecca Szelc joins Charles River as a Vice President in Financial Accounting & Valuation practice. Linda Zimmerman joins Aon Hewitt as Senior Vice President and Global Marketing Leader. KPMG appoints Janet Davidson as Head of the Global Healthcare Center of Excellence. PricewaterhouseCoopers names Erik Hansen as Partner in Risk Assurance Services practice; Pamela F. Olson joins as Deputy Tax Leader and Leader of Washington National Tax Services practice. Capgemini Appoints Dee Burger as Telecom, Media and Entertainment Practice Sector Lead and Jean-Marc Steffann as Vice President. Navigant appoints Jim Vint Managing Director, and Kevin Blake and Kevin Byrne as Directors within the Technology Solutions practice; Karin Corfee as Managing Director in Energy Practice. Ernst & Young appoints Brendan LeBlanc as Executive Director in Americas Climate Change and Sustainability Services practice, and Chris Walker as Associate Director. Celerant appoints Neil Eurick as Vice President in Global Metals and Mining Practice. Mike Shove named COO CSC Managed Services; Andrew Anker appointed President, CSC Asia Group Operations; Chris DePippo named Vice President, Chief Ethics and Compliance Officer. Booz Allen Appoints Thad Allen as Senior Vice President. CACI US President, William Fairl, to Retire, Moves to Chief Development Officer Role; CACI COO, Daniel Allen, elevated to President of US Operations; Krisstie Kondrotis as Executive Vice President, Business Development. Booz Allen Appoints Thad Allen as Senior Vice President. (6,800 words) . . . More
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EC Formally Proposes Order Separating Big Four Audit and Consulting Operations
Monadnock Research (Vol IV, No 40) - 2 Dec 2011
MR - The European Commission (EC) has adopted proposals that, if implemented, will dramatically change the way auditors serve public interest entities (PIE), including banks, insurance companies and publicly listed companies. The proposal prohibits firms from providing non-audit services to audit clients. The rules are particularly restrictive for the Big Four, and will obligate them to separate audit activities from non-audit consulting and advisory practices to avoid potential conflicts of interest with clients. According to the EC, "Big firms represent a very large proportion of PIE audits. It is critical that such audits are conducted in an independent manner without any 'pollution' from other commercial interests." Beyond the separation of audit and advisory operations, the change establishes more stringent governance policies for auditors to strengthen their independence and introduces more competition into the highly-concentrated market for PIE audit services. Included among those additional changes are mandatory auditor rotation; transparent bid tendering; audit committee oversight; EC supervision and international coordination of the audit sector; intra-EC auditor professional practice mobility; and less "red tape" for small and mid-sized audit firms. Audit firms will support many of the proposals, but reject separation of the consulting operations as a solution. They also oppose auditor rotation, which the EC has said is fundamental to reform. Research Note includes EC audit reform proposal, impact assessment and firm responses to the proposed regulatory actions. (1,950 words) . . . More
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Green Consulting Practices Assessed in Verdantix Report
Monadnock Research - 15 Nov 2011
MR - Verdantix, an independent research firm providing services in the area of sustainable business practices, recently published the results of its 2011 UK Green Quadrant Sustainability Business Consulting study. According to Verdantix, in the last four years a combination of increasing energy expenditures, climate change policy, new market opportunities and shifting competitive dynamics has encouraged FTSE 100 firms to invest in more ambitious corporate sustainability strategies. The Green Quadrant report is positioned to help client business leaders and procurement professionals by presenting a fact-based comparison of the 14 sustainability business consulting firms most active in the UK market. Many of these firms also have top sustainability practice in other global regions. The report found that the following four firms currently lead the UK sustainability consulting market: Deloitte, Ernst & Young, KPMG and PwC. Their position is due to the breadth of their service offerings; depth of expertise in sustainability; and significant investments in internal sustainability programs. The report also found that Accenture, ARUP, Camco, McKinsey and WSP Environment & Energy all have strong practices that are well positioned to address client requirements across the seven sustainability areas assessed in the report. (500 words) . . . More
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P&G Awards Ernst & Young and Infosys for Supplier Excellence
Monadnock Research - 10 November 2011
MR - P&G conferred its highest supplier honor, Business Partner of the Year, upon Ernst & Young, Infosys, and 10 other companies for 2011. E&Y was honored for its non-audit advisory work. P&G has more than 75,000 suppliers globally. This year under 1% of its partners were among those selected for awards. Business partners consistently performing at high levels within P&G's internal performance management system earned an Excellence Award. A total of 86 external partners were recognized this year. Beyond Business Partner of the Year recipients Ernst & Young and Infosys, 12 firms providing consulting services as part of their offering were also 2011 Excellence Award recipients. (450 words) . . . More
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Consulting Leadership News: Korn/Ferry, CSC, KPMG, BDO, Cushman & Wakefield, PwC, CGI, E&Y, Celerant, Navigant, Alvarez & Marsal, BearingPoint, Huron, Campbell-Hill
Monadnock Research - 27 Oct 2011
MR - Korn/Ferry appoints Chuck Feltz as President of its Lominger products business. CSC CEO and Chairman, Michael Laphen, to retire. KPMG LLP Names Steven Hill Vice Chair, Strategic Investments. Sixty staff and 6 partners join BDO USA from Carneiro Chumney & Co. Cushman & Wakefield cuts staff and shifts focus from Dubai to Bahrain. CGI appoints George Schindler President of US operations and Ken Taylor as Vice-President, Cybersecurity. PwC names Dietmar Ostermann Global Automotive Advisory Leader. PwC appoints Eric Israel and Clinton Moloney as Managing Directors in Sustainability Business Solutions practice. Martin Steinbach appointed to lead Ernst& Young's IPO Center. BDO Consulting names Drew Olson to expand litigation and fraud investigation within Chicago Insurance practice. Celerant appoints Neil Eurick as Vice President within Metals and Mining practice. BearingPoint hires Rob Staples as Partner in UK Communications practice. Navigant appoints nine senior consulting professionals. Alvarez & Marsal appoints Lou Pahountis as Managing Director. Huron names Joel Feliciano as Managing Director. AirTran Senior Executive Kevin Healy Joins Campbell-Hill Aviation Group; Eric K. Ford joins as Vice President. (2,735 words) . . . More
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Consulting Leadership News: Ernst & Young, KPMG, Accenture, Capgemini, PwC, NERA, Deloitte, BearingPoint, Navigant, and BCG
Monadnock Research - 29 July 2011
MR - Ernst & Young announces 548 new partners worldwide; Appoints Herb Engert as the new Americas Leader of Strategic Growth Markets. KPMG International Chairman-elect, Michael Andrew, appoints global leadership team. Accenture names Paul Daugherty as Chief Technology Architect and Gavin Michael Chief Technology Innovation Officer. Accenture has also named Jorge Benitez managing director -- North America and Chief Executive. Capgemini will train 1,500 architects and developers globally on the Windows Asure cloud platform to support new partnership. Aon Appoints Greg Besio as Chief Human Resources Officer. BCG named former ING Group COO, Thomas J. McInerney, as Senior Advisor. PwC US Appoints Robert W. McCutcheon as New Industrial Products. Leader. Energy Expert Scott Bloomberg Joins NERA Economic Consulting. BearingPoint appoints 6 new Partners. Deloitte appoints Chris Harrop to lead nuclear capital programs. Navigant appoints William Hardin within Disputes & Investigations practice. Navigant appoints William Hardin within Disputes & Investigations practice; Adam Borison, PhD, has joined the firm's Energy Practice as a Director; Names Adam Borison, PhD, as Energy Practice Director (4,800 words) . . . More
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EC Commissioner Barnier Considers Prohibiting Auditors from Offering Consulting
Monadnock Research (Vol IV, N 21) - 1 July 2011
MR The EC Commissioner for Internal Market and Services, Michel Barnier, addressed a conference of the Federation of European Accountants on 30 June, and advocated for a number of auditor regulatory changes that could include a total ban on audit firms providing consulting services and mandated rotation of auditors. Barnier is the EC official responsible for the Internal Market and Services Directorate General and Office for Harmonization in the Internal Market. Speaking before the federation of European CPA's Barnier intimated that he believes the regulatory environment for auditors in Europe is deeply flawed and in need of reform. He proposes the EC focus on: auditor independence issues; opening of the audit services market; and a more integrated European auditor regulatory and certification environment. The issue of auditors offering consulting and advisory services was addressed in his remarks. He believes that a key factor that fuels excessive familiarity between auditors and their clients lies in providing too many consulting and non-audit advisory services. Barnier asks, "How can we view an auditor as independent when the firm also advises the client in the area of strategy?" Research Note includes translation and interpretation of key points from speech associated with consulting. (865 words) . . . More
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Consulting Leadership News: Deloitte, PwC. Mercer, Sopra, Navigant, E&Y, FTI, Logica, Point B, KPMG, US DoD, and Citigroup
Monadnock Research - 5 June 2011
MR - Deloitte LLP elects Punit Renjen Chairman and Joseph Echevarria CEO; Jim Moffatt, Chairman and CEO of Deloitte Consulting LLP; Carl S. Allegretti as Chairman and CEO Deloitte Tax LLP; General Charles F. Wald as Director and US Department of Defense (DoD) consulting practice lead; and Deloitte's UK affiliate names 63 new partners. Richard Neiman joins PricewaterhouseCoopers as Vice Chairman of Global Financial Services Regulatory practice; Dr. Harry Broadman appointed Managing Director, Chief Economist and Leader of the Emerging Markets, Governance, and International Investment & Trade advisory practice group within PwC Forensics Services; and Keith Hubert, Managing Partner of the Hartford, Conn. office and leader, and leader of PwC's Northeast Insurance Services practice. Jimmy Johansen appointed Head of Mercer's Nordic International Consulting Group and International Leadership Group Member for EMEA; Michael Shore joins Mercer as Principal in Information Product Solutions consulting practice. Sopra appoints Christian Levi as Head of Sopra Consulting. Navigant's current Vice President and Controller, David Wartner, named Vice President, Operations and Treasurer; Scott Harper, Controller of Navigant's Disputes and Investigations segment, named Corporate Controller; Mary Jo Neville, current Segment Controller of Navigant's Business Consulting segment, named Segment Controller of Navigant's Disputes and Investigations segment; and F. Wayne Elggren joins Navigant's Disputes & Investigations practice as a Managing Director. Ernst & Young appoints Maria Pinelli as Global Vice Chair for Strategic Growth Markets practice. FTI Consulting names Lord Malloch Brown as Chairman of EMEA operations. Logica appoints Himanshu Raja as CFO and Executive Director of the Board. Point B appoints Michael Dickstein as Chief Marketing Officer. KPMG faces $350 million gender discrimination class action. Former Dutch Healthcare Cabinet Minister, Ab Klink, joins Booz & Co. Shay Assad appointed Director of Defense Pricing within US Office of the Under Secretary of Defense. John Catero appointed Citigroup Senior Vice President for US professional services procurement. (4,575 words) . . . More
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Cataphora Legal Purchased by Ernst & Young
Monadnock Research - 31 May 2011
MR - Ernst & Young LLP's Fraud Investigation & Dispute Services (FIDS) practice has acquired Cataphora's legal division. Cataphora will shift its focus to selling Fortune 1000 clients large-scale data analysis software. Cataphora Legal's senior leadership team will join Ernst & Young in similar roles, along with another 17 staff members in California, Chicago, Washington, New York, and Mumbai. (565 words) . . . More
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Ernst & Young Acquires Consulting and Research Group of Proxy Governance
Monadnock Research - 25 May 2011
MR - Ernst & Young has acquired the corporate governance team, a research application, and a database of corporate governance information from Proxy Governance, Inc. (PGI). The deal was concluded prior to the 2011 proxy season. E&Y says the acquisition gives it a unique ability to examine the governance and shareholder engagement needs facing boards and senior executives. (350 words) . . . More
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Consulting Leadership News: KPMG, Infosys, Deloitte, Ernst & Young, PwC, Hayes, PFK, and Ciber
Monadnock Research - 13 May 2011
MR - KPMG appoints Michael J. Andrew as Global Chairman, succeeding Tim Flynn in October 2011. N. R. Narayana Murthy's replacement at Infosys announced; Murthy appointed Chairman Emeritus; K. V. Kamath named as the Chairman of the Board; S. Gopalakrishnan named as the Co-Chairman of the Board; S. D. Shibulal named as the Chief Executive Officer and Managing Director. John McCue appointed leader of Deloitte's Energy & Resources Industry and Power & Utilities sector. Ernst & Young names Preston Thompson as Executive Director within its Financial Services Advisory practice; Mal Postings as the Chief Technology Officer within the IT Advisory Services practice; David White as Principal and Kristin Valente as Partner within Portland Advisory Practice; and Nathan Ives within its Power & Utilities Advisory Services Practice. Paul Williams Joins PwC US' Real Estate Business Advisory Services Practice. Robert Drewniak named leader of Hayes Management Consulting's Strategic & Advisory Services group. Andrea Foster Rejoins PKF Consulting USA as Vice President. CIBER Names Jayant Mehta Vice President of Business Solutions. (3,145 words) . . . More
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Consulting Leadership News: Deloitte, FTI Consulting, Censeo, Ernst & Young, CSC, Navigant, Capgemini, and Wipro
Monadnock Research - 28 April 2011
MR - Deloitte LLP elects Joseph Echevarria CEO and Punit Renjen Chairman; Harry Greenspun, M.D., joins Deloitte Center for Health Solutions; Bob Contri appointed U.S. financial services industry group leader. FTI Consulting appoints William M. Isaac as Senior Managing Director and head of the Financial Institutions Group. Kareem El-Alaily and Mark Klupt join Censeo as Principals; Steve Krauss joins as Corporate Development Officer; Barbara Meachin joins as Director of Professional Development; Dr. Timothy Laseter transitions from COO to commercial practice leader. Jonathan Dharmapalan appointed to lead Ernst & Young Global Telecom Center. CSC has named Alisoun Moore vice president and general manager for its North American Public Sector (NPS) Health Services Division. Greg Campanella and Kevin McHugh join Navigant Capital Advisors' Valuation & Financial Risk Management practice as Managing Directors. Capgemini Government Solutions has named Sandra Gillespie a Vice President in the Federal Government practice. Successor to Infosys founder, N R Narayana Murthy, to be announced 30 April. (2,590 words) . . . More
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Former LECG-Smart Practice Members Join Ernst & Young; LECG Terminates Nasdaq Listing
Monadnock Research - 21 Apr 2011
MR - Ernst & Young LLP's Financial Services Office has added more than 30 professionals to its insurance tax and life actuarial advisory practices. The team provides tax and actuarial consulting services, and will be focused on the federal income taxation of life insurance companies and their products. The group is led by Chris DesRochers and Greg Stephenson, who join Ernst & Young from the former LECG/SMART consulting and advisory services firm that is currently winding down its operations. LECG has terminated its listing on the Nasdaq on 21 April and plans to terminate its public reporting under the Exchange Act. (605 words) . . . More
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Ernst & Young Acquires Performance Advisory, ISA Consulting
Monadnock Research - 5 April 2011
MR - Ernst & Young has acquired privately-held performance management and business intelligence consultancy, ISA Consulting. ISA is based in Philadelphia, with offices in New York, Atlanta, Boston and Washington D.C. The firm helps companies improve effectiveness and efficiency through business performance management, business intelligence, and data integration service. E&Y views the investment to increase staff and capabilities in a high growth service area of key importance to CFOs, as well as its proprietary methodologies and intellectual property in analytics for performance improvement and performance management. (340 words) . . . More
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Honest Services Crisis: Professional Poison and the Chicago Connection
Monadnock Research (Vol IV, No 11) - 30 Mar 2011
This Research Note was written by Monadnock Research CEO and Cofounder, Mark O'Connor, for re:TheAuditors, Francine McKenna's Big Four Weblog. The article has been published in its entirety at www.retheauditors.com; no subscription required. Research Note includes 7 recommendations for clients and firms to minimize risk; Big Four firm metrics; recognition of 2010's best and worst examples; three graphics; and 45 minute audio version. (6,200 words). . . . More
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2011 Big Four Consulting and Advisory Services Rates
Monadnock Research (Vol. IV, No. 10) - 17 Mar 2011
MR - This Monadnock Research Note summarizes the findings of a recent client study into Big Four consulting and advisory services rates. Since we find that rate data for the Big Four is not particularly useful unless it is presented across individual rate categories, this Note provides median rates for firms across the following 12 categories: Strategy; Operations; Accounting and Financial Strategy; Legal, Forensic and Risk Advisory; Internal Audit and Compliance; Transaction Advisory; Tax Advisory; Performance Services; IT Audit; Human Resources; IT Consulting; and IT Strategy. Research Note includes 4 charts. (850 words) . . . More
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Big Four Advisory Practice Rankings
Monadnock Research (Vol IV, No 9) - 17 March 2011
MR - Global non-audit advisory services of Big Four firms, including tax services, again broke the $50 billion (USD) mark in fiscal 2010 after retreating briefly in 2009, representing a 3.23 percent increase over 2009 levels. Total non-tax advisory services of Deloitte, KPMG, PricewaterhouseCoopers, and Ernst & Young were $27.8 billion, an increase of 8.1 percent over fiscal 2009. This Monadnock Research Note ranks the Big Four firms across their non-audit service categories. It also includes ratios of audit to non-audit advisory work for the Big Four, and provides MR perspective on what it all means to buyers, sellers, and regulators of associated services. Research Note includes 6 charts. (3,075 words) . . . More
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Consulting Leadership News: Roland Berger, Simon Kucher, PwC, E&Y, FTI, CSC, Navigant, Natoma Partners, and Capgemini
Monadnock Research - 14 January 2011
MR - Roland Berger Strategy Consultants appoints 21 new international Partners. Simon-Kucher & Partners appoints nine new partners to the leadership team, increases firm's global focus. Pierre Nanterme assumes role of Accenture CEO; William Green continues as Chairman. PwC U.S. names three direct-admit principals in valuation services practice. Ernst & Young's Financial Services Office appoints Executive Director within Advisory practice. FTI Consulting appoints global leader of its Transaction Advisory Services (TAS) practice. CSC names director of Cybersecurity within its U.K. business. Navigant appoints Managing Director in its Healthcare Practice. Three Former Huron Managing Directors form Natoma Partners. Capgemini expects to add 550 technology jobs in North Carolina. (4,450 words) . . . More
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Ernst & Young FY 2010 Global Revenues Down Around 1 Percent
Monadnock Research (VIII N47) - 9 October 2010
MR - Ernst & Young had combined global revenues of $21.3 billion (USD) for its fiscal year ended 30 June 2010, compared with $21.4 billion in FY 2009. Revenues were down 3.5 percent in local currency terms, and global staffing was down 2.4 percent over 2009 levels to 140,964. FY 2010 saw a mixed performance, with decreases in revenue in the first half, offset by a rebound in the third and fourth quarters. Revenues in the second half of the financial year increased by 5.3 percent in US dollars. Revenues by service line decreased across all service areas except advisory, which increased by 2 percent in U.S. dollar terms to $3.662 billion, and decreased by 1.2 percent in local currency. The firm's Asia-Pacific Area recorded a 9.0 percent revenue growth in dollars and 1.5 percent increase in local currency All other areas declined. Research Note includes one chart. (660 words) . . . More
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Consulting Leadership News: HP, KPMG, Deloitte, E&Y, True Partners, Baker Tilly, and Kobe Institute
Monadnock Research - 30 September 2010
MR Former Booz Sr. Partner and Oracle President Ray Lane appointed HP Non-Executive Chairman; Former SAP President Léo Apotheker named HP CEO and President. KPMG Canada names 70 new partners, Associate Partners, and Executive Directors. Deloitte has appointed Heather Devine as a director within its U.K. business model optimization practice. E&Y plans to hire 6,000 students in the next 12 months. True Partners Consulting has appointed Robert M. Gordon and Samantha R. Petersen as managing directors. Baker Tilly appoints Jeffrey Smith as Principal in U.S. Federal Government Practice. Former McKinsey consultant, Toshiki Sumitani, named President of Japan's Kobe Institute of Computing. (1,480 words) . . . More
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Consulting Leadership News: Atos Origin, PwC, CSC, Logica, E&Y, KPMG, Mercer, Navigant, Buck, and Kurtzman Carson
Monadnock Research - 4 September 2010
MR - Atos Origin Appoints CEO of Atos WorldGrid; Executive Vice President for Talent Management and Communications. PricewaterhouseCoopers LLP names U.S. and Global Talent Leader; U.S. Recruiting Leader; and Co-leader of Indirect Tax practice. CSC Appoints Senior Executive Advisor and Vice President for its North American Public Sector Civil and Health Services Group. Logica names CEO of North American operations. Ernst & Young appoints new leader for Advisory Power & Utilities Practice. KPMG International names global head of audit. Mercer appoints Managing Director, Taiwan. Navigant appoints Managing Director within Financial Risk Management Practice. Buck Consultants appoints communications practice lead. Kurtzman Carson Consultants appoints Director of Corporate Restructuring Services. (2,425 words) . . . More
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Ernst & Young Launches Capital Advisory Affiliate
Monadnock Research - 13 August 2010
MR - Ernst & Young LLP has launched an affiliate, Ernst & Young Capital Advisors, LLC (EYCA), a newly formed broker-dealer. EYCA joins the global network of Ernst & Young firms, offering a broad range of transaction and capital advisory services, including capital structure advisory, capital raising, restructuring, and special situations finance to middle market and larger corporate clients as well as creditors and other investors. Several members of the team join E&Y from Bank of America Merrill Lynch. (513 words) . . . More
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Consulting Leadership News: Hewitt, Deloitte, Heidrick & Struggles, CRAI, Diamond, FTI, ADL, PAREXEL, Bain, Segal, Sapient, Navigant, Pearl Meyer, RBF, Hill, NERA, EquaTerra, Ernst & Young, Mercer, KPMG, and Protivity
Monadnock Research - 18 June 2010
MR - Hewitt Associates appoints co-leaders of North American Executive Compensation Consulting practice. Deloitte appoints U.S. Retail practice leader and Vice Chair. Heidrick & Struggles continues its strategic diversification into complementary leadership consulting areas by naming two Principals within its Global Technology & Services Practice. Charles River Associates makes 8 senior level appointments in Transfer Pricing Practice. U.S. Federal practice leader re-joins Diamond after working as general manager of FCC National Broadband Plan. FTI Consulting appoints Senior Managing Director and Asia Pacific Leader. Arthur D. Little names Managing Director of ADL Spain and Director of ADL China. PAREXEL appoints two former regulators as Principal Consultants. Bain Private Equity Partner joins New York practice. Segal appoints new CIO. Sapient appoints chief information security officer. Navigant Consulting appoints Managing Director within Navigant Economics group; Managing Director in Global Construction practice. Pearl Meyer & Partners appoints two Managing Directors. RBF Consulting promotes eighteen new Associates. Hill appoints Vice President of Project Management Operations. NERA Economic Consulting appoints Special Consultant. EquaTerra appoints real estate and facilities management advisor to RE&FM Practice. Former IRS hedge fund enforcement executive joins Ernst & Young's Financial Services Office. Mercer appoints Principal in London Health & Benefits practice. KPMG will bring nearly 375 jobs to its office in Fairfax County Virginia. Protivity experiments with client environment simulations for 2010 summer intern training. (5,410 words) . . . More
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Bader Al Wazzan & Co. Defects PwC Network to Join Deloitte
Monadnock Research - 25 May 2010
MR - Former PricewaterhouseCoopers (PwC) member firm Bader Al Wazzan & Co. has been acquired by Deloitte's Middle East practice. The combined firm will now be known as Deloitte & Touche, Al Fahad, Al Wazzan & Co. Deloitte's Kuwait firm has been providing audit and advisory services to clients since 1949, and the practice that Bader Al Wazzan joined in 1980 was set up to provide audit and tax services in the early 1960's. This comes on the heels of a Financial Times report that PwC has been poaching staff from firms in the Middle East. According to the report, there has been a particular focus on Ernst & Young from whom it has reportedly acquired close to a fifth of its in-region partners, most from E&Y's consulting operations. (453 words) . . . More
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Global Businesses Actively Seeking M&A Targets in Next 12 Months to Increase by 100 Percent
Ernst & Young - 14 April 2010
E&Y - Optimism appears to be growing in the global M&A environment, as 57 percent of businesses stated in a recent Ernst & Young study that they are likely or highly likely to acquire other companies in the next 12 months, almost double that of the 33 percent six months ago. Seventy six percent of businesses are now focused on growth, compared to 56 percent six months ago. Confidence in credit conditions has improved, with 62 percent expect financing to fund major capital projects and acquisitions to become available in the next 12 months. Forty percent of respondents expect the downturn to end within 12 months, compared to 30 percent in November 2009. Sixty four percent of respondents are now more optimistic about the prospects for their local economy and 69 percent for their company. The most optimistic countries are Australia, India, Brazil and China, with some western developed markets the least confident, including France, the US, and UK. (858 words) . . . More
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Consulting Leadership News: Capgemini, Logica, PwC, Mahindra Satyam, E&Y, Aon, CMA, FTI, Clark, and Deloitte
Monadnock Research – 11 December 2009
MR - Capgemini names Chief Ethics & Compliance Officer. Logica appoints Chief Client Officer. Price Waterhouse India appoints new Managing Director. Mahindra Satyam appoints new Chairman and two audit committee members; Appoints Deloitte as auditor. Ernst & Young expands Restructuring and Working Capital Advisory Services groups. Aon Consulting names Vice President in Global Benefits Practice; Aon Investment Consulting appoints senior vice president and vice president; Financial Risk Consulting leader rejoins Aon Consulting Canada. Former New York Senate leader Joseph Bruno resigns as CEO of CMA Consulting Services after conviction on Federal corruption charges. FTI Consulting appoints three senior managing directors in litigation consulting practice. Alvarez & Marsal appoints Managing Director in Chicago Risk Management practice. Clark Consulting reorganizes, and appoints three Vice Presidents and national director. Deloitte integrates BearingPoint staff at new U.S. Federal headquarters within Arlington Corporate Executive Board facility (3,080 words). . . . More
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E&Y Reports Fiscal 2009 Advisory Revenue Down 6 Percent in USD; Transaction Advisory Down 14.8 Percent
Monadnock Research (V2 N45) - 30 September 2009
MR - Ernst & Young announced combined worldwide revenues of $21.4 billion for the fiscal year ended 30 June 2009 (FY09). Year-over-year revenues on a comparable basis decreased by 6.8 percent in US dollars, or 0.2 percent in local currency. Advisory services decreased by 6 percent to $3.59 billion; but were up by 1.5 percent on a local currency basis. Transaction advisory services revenue was down 14.8 percent to $3.59 billion; down 6.9 percent in local currency. Employment in the Advisory Services practice increased by 2.2 percent to 27,446, and TAS staffing decreased by 1.3 percent to 7,876. . . . More
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Ernst & Young Launches Financial Sector IT Advisory Services Group
Monadnock Research - 17 August 2009
Ernst & Young's Financial Services Office has launched an Information Technology Advisory Services group that will provide financial institutions with strategic IT services to solve complex business issues and comply with new regulatory mandates. John Weisel will lead a team of over 1,000 IT professionals across the Americas providing related services. . . . More
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Former E&Y Partner Found Guilty of Securities Fraud After Disclosing Confidential Client Information
Monadnock Research (VII N25) - 18 May 2009
Former Ernst & Young (E&Y) Transaction Advisory partner James E. Gansman was found guilty by a jury on six securities fraud charges in US Federal Court in Manhattan on 15 May. Gansman, whose sentencing is scheduled for 1 October, could receive up to $5 million in fines and 20 years in federal prison for each of the six counts. E&Y said it cooperated fully with the investigation. (subscription required) . . . More
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Consulting Leadership News: ABeam, Ernst & Young, Alvarez & Marsal, Domenici Consulting, Innodata Isogen, RTM Consulting, BDO Jawad Habib, and Sandvik
Monadnock Research – 21 April 2009
ABeam elects new CEO and President. Ernst & Young's Transaction Advisory Services names new Vice Chair of Americas practice, tries innovative staffing approach in China work slowdown. Alvarez & Marsal appoints leadership team for new private equity performance improvement group. Former FCC executive launches Domenici Consulting. Innodata Isogen expands consulting capabilities with business process consultants and IT services executives. RTM Consulting appoints Managing Partner. BDO Jawad Habib appoints new partner. Sweden's Sandvik to reduce consulting staff. (subscription required) . . . More
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Consulting Leadership News: Deloitte, Heidrick & Struggles, Capgemini, Celerant, A&M, Hewitt, CRAI, Ernst & Young, and Satyam
Monadnock Research - 2 April 2009
Deloitte appoints Deputy Managing Partner with responsibility for Professional Practice Network. Heidrick & Struggles names Vice Chairman and Managing Partner of newly combined global CEO and Board practices. Capgemini names eight VPs. Hitachi Consulting appoints President and CEO. Celerant names senior vice president of strategy. Alvarez & Marsal makes executive appointments and expands pan-European financial institutions team. Global Health Management consulting leader rejoins Hewitt. E&Y to cut compensation of Irish staff by 7.5 percent. Satyam may have lost close to 25 percent of staff since January. (subscription required) . . . More
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Management and IT Consulting Industry Trends 2009
Monadnock Research (VII N12) - 6 March 2009
Monadnock Research has identified ten key trends that will impact buyers and providers of consulting services in 2009 and beyond. This Research Note provides details on those trends, including: shifts in distribution of category and industry spending on consulting services; increasing client focus on consulting category management; contractor/subcontractor relationship trends; innovative staffing models; flight to quality; crackdowns on sham consultancies; nationalistic sentiments; international consulting network trends; and alternatives to consultants. (subscription required) . . . More
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Climate Change Consultants in the U.S. Face a "Make or Break" Year
Verdantix
(3 February 2009) Consulting firms that fail to establish their climate change expertise during 2009 will miss out on the biggest opportunity in the consulting market in the past 20 years, according to research conducted by Verdantix. CH2M Hill and McKinsey stood out -- even among the leaders -- due to the breadth and depth of their capabilities and proven track records over the last 2 years. Two Big Four firms, Deloitte and PwC, and environmental consultancies ENVIRON, ERM and ICF International, are also positioned in the leaders quadrant. . . . More
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Consulting Leadership News: KPMG, Arthur D. Little, A.T. Kearney, Huron, Prestige Consulting, SD Retail Consulting, Beacon Partners, Cumberland, Capgemini, Citigroup, HP/EDS, and Ernst & Young
(30 January 2009) KPMG names new chair of global executive team and new CEO of U.S. firm. Arthur D. Little makes principal appointments. A.T. Kearney has appointed two vice presidents to its Financial Institutions Group. Huron Consulting Group names vice president within its Healthcare Operational Consulting practice. Prestige Resorts appoints leader to launch Prestige Consulting Services. SD Retail Consulting appoints new leader of Shrink Reduction and Margin Recovery practice. Beacon Partners appoints regional manager. Cumberland names new partner. Capgemini asks contractors to take 15 percent rate cut. Sanford Weill's consulting relationship with Citigroup to terminate seven years early. HP/EDS employees protest layoffs across Europe. E&Y cuts tax staff ahead of tax season. . . . More
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Consulting Leadership News: PwC, Atos Origin, Deloitte, Celerant, E&Y, AON, and Marks Paneth & Shron
Monadnock Research - 20 November 2008
MR - PwC begins search for successor to current global CEO. Atos Origin abruptly replaces president. Deloitte appoints retiring seven-term congressman as director; Names U.S. managing partner of Audit & Enterprise Risk Services. Celerant appoints Chief Operating Officer. Navigant Consulting board member resigns to take appointment within Obama administration. Ernst & Young appoints U.S. leaders for restructuring services and bankruptcy and restructuring tax practices. Aon Consulting names senior vice president in corporate transactions group. Marks Paneth & Shron appoints director in its litigation and corporate financial advisory services group. . . . More
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Global IPO activity falls to lowest level since 2003
Ernst & Young - 7 October 2008
(7 October 2008) Global IPO activity has fallen to its lowest level since 2003, according to the quarterly Global IPO update from Ernst & Young. 2008 results show funds raised are down 66 percent from the previous quarter. . . . More
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Consulting Client Insights: Accenture, Lilly, PwC, CRA, Booz & Co., Ernst & Young, World Bank, Monitor, and McKinsey
(26 September 2008) Accenture announces exceptional results for the quarter and fiscal 2008 - its highest-ever annual revenues, earnings per share, bookings, operating income, and cash flow. How is Accenture succeeding in difficult economic times, and why is this good for clients? Lilly takes preemptive step toward disclosure of fees paid to consulting physicians to improve transparency. CRA announces weak financial and operating results. PricewaterhouseCoopers announces carbon emission reduction targets. Ernst & Young LLP nurtures campus recruiting efforts with large strategic donations. Growing risk to consultants working in developing and politically unstable nations. McKinsey Quarterly article says that 60 percent of professional services firms see employment either staying the same or decreasing over the next 6 months; cuts within 80 percent of investment bank fixed costs, including management and IT consulting, would have little or no impact on staff morale and corporate culture. Monitor cuts close to 20 percent of workforce. Booz & Co. CEO sees slow second half of 2008. . . . More
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