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☆ 'We think the latter part of the year, things will get better' for business, says EY CEO
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We think the latter part of the year, things will get better' for business, says EY CEOCarmine di Sibio, CEO of EY, discusses interest rates, geopolitics and his outlook for the coming year.

Persons: Carmine di Sibio

☆ EY CEO discusses the energy transition
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY CEO discusses the energy transitionCarmine Di Sibio, Ernst and Young CEO, speaks to CNBC's Steve Sedgwick at COP28 in the United Arab Emirates.

Persons: Carmine Di Sibio, Ernst, Young, Steve Sedgwick Organizations: United Locations: COP28, United Arab Emirates

☆ EY appoints company veteran Janet Truncale as global CEO
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

A general view of Ernst & Young Global Limited Headquarters in London in London, Britain April 15, 2023. REUTERS/Maja Smiejkowska/File Photo Acquire Licensing RightsCompanies Ernst & Young LLP FollowNov 15 (Reuters) - Ernst & Young has appointed insider Janet Truncale as global chief executive, replacing Carmine Di Sibio starting July 2024, the accounting firm said on Wednesday. Truncale, the regional managing partner at EY Americas, has spent more than 30 years at the firm after joining as an intern. Di Sibio was appointed to the top role in 2019. Reporting by Jose Joseph in Bengaluru; Editing by Arun Koyyur and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Ernst, Maja Smiejkowska, Young, Janet Truncale, Carmine Di Sibio, Truncale, Di Sibio, EY, Jose Joseph, Arun Koyyur Organizations: Ernst & Young Global, REUTERS, Ernst, EY, Financial Times, Thomson Locations: London, Britain, Bengaluru

☆ EY Picks Janet Truncale as Global Chair as Accounting Firm Looks Beyond Failed Split
▼ + stars: | 2023-11-15 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

Ernst & Young appointed Janet Truncale as global chair and CEO, effective July 2024. Photo: Ernst & YoungErnst & Young executives selected the head of its Americas financial services business as the new global chair to succeed Carmine Di Sibio , the architect of the failed split of its audit and advisory businesses, as the Big Four accounting firm works to move out of the shadows of the botched plan. Janet Truncale will be the first woman to serve as global chair and chief executive of the roughly 395,000-person firm, effective July 1, 2024. The 18-person global executive committee on Wednesday told partners they had elected her to a four-year term, among the six nominees, making the ratification official.

Persons: Ernst, Young, Janet Truncale, Young Ernst, Carmine Di Sibio Organizations: Ernst, Young, Big, Wednesday

☆ EY Lays Out U.S. Governance Overhauls After Failed Split
▼ + stars: | 2023-11-06 | by ( Mark Maurer | Alexander Saeedy | ) www.wsj.com time to read: 1 min

Ernst & Young’s global executive board is preparing to vote on a successor to Carmine Di Sibio, the global chairman and chief executive, in coming weeks. Photo: tolga akmen/Agence France-Presse/Getty ImagesErnst & Young is stepping up its U.S. governance overhaul efforts, a bid to give partners there a greater voice in firm strategy, following the failed separation of its audit and advisory businesses earlier this year. The proposal comes as the Big Four accounting firm continues to work to untangle the mess left by its decision in April to scrap plans to split auditing and consulting into two different firms. EY spent $600 million and more than a year working on the split.

Persons: Ernst, Carmine Di Sibio, tolga, Young, EY Organizations: Agence France, Getty, Ernst, Big

☆ EY has created its own large-language model — and says it will train all 400,000 employees to use it as part of a $1.4 billion investment
▼ + stars: | 2023-09-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

The consulting giant announced a new AI platform and its own large language model. The company now plans on teaching its 400,000 employees how to use AI in the workplace. AdvertisementAdvertisementClient data will not be used to train the model, the company added, and any prompts fed to EY.ai EYQ "are not retained or used by the model," an EY spokesperson told Insider. The company will train all 400,000 of its employees to use the technology, a spokesperson told Insider. Last December, Deloitte announced a $1.4 billion investment in professional development services, including trainings on how to use AI.

Persons: Ernst, Young, Carmine Di Sibio, EY, PwC Organizations: Service, Ernst, Street Journal, Microsoft, Big, KPMG, Deloitte, Walmart, Meta, Netflix Locations: Wall, Silicon

☆ EY rolls out AI-powered platform after $1.4 bln tech investment
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

The EY company logo is seen at their headquarters in London, Britain, April 16 2023. The EY.ai platform has AI-embedded versions of the firm's products like the data management product EY Fabric, which is used by 60,000 clients, the company said. Every business is considering how it will be integrated into operations and its impact on the future," EY Global Chairman and CEO Carmine Di Sibio said. EY said it plans to train its staff in the technology and will release a large-language model (LLM) called EY.ai EYQ. Reporting by Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Peter Nicholls, EY, Carmine Di Sibio, Thomson, Jaspreet Singh, Pooja Desai Organizations: REUTERS, KPMG, Accenture, Dell, SAP, Thomson Reuters, Reuters News, Thomson Locations: London, Britain, Bengaluru

☆ EY event focused on A.I. and cancer prevention, among other things: CEO
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY event focused on A.I. and cancer prevention, among other things: CEOCarmine Di Sibio, global chairman and CEO of EY, discusses the company's World Entrepreneur Of The Year event.

Persons: Carmine Di Sibio

☆ I'm EY's global chairman and CEO. Here are the 3 most important lessons I've learned through my career.
▼ + stars: | 2023-06-03 | by ( Carmine Di Sibio | ) www.businessinsider.com time to read: +8 min

It's also when business graduates think about the positive impact they would like to make on the working world. Here are three lessons that are never too late for anyone to put into practice no matter where you are in your career. By day, I worked at Arthur Young — one of predecessor member firms of the EY organization. Recently the EY organization decided not to move forward with Project Everest. The views reflected in this article are the views of the author and do not necessarily reflect the views of the global EY organization or its member firms.

Persons: Carmine Di Sibio, Di Sibio, —, It's, EY, I've, Arthur Young —, we've, you'll Organizations: Service, NYU Stern, Technology, NYU, Microsoft, World

EY global leader Carmine Di Sibio says the accounting firm is continuing to work toward a transaction. The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who believe their part of the firm could end up weakened by a deal. John King and Frank Mahoney, senior U.S. EY executives, have emerged as key opponents to the firm’s plan for a worldwide split of its auditing and consulting arms, according to people familiar with the matter.

☆ EY Breakup Plan’s Fate May Rest on Executive Showdown This Week
▼ + stars: | 2023-03-28 | by ( Jean Eaglesham | ) www.wsj.com time to read: 1 min

Carmine Di Sibio, global leader of Ernst & Young, faces opposition to his plan for splitting the firm’s consulting and auditing businesses. The fate of Ernst & Young’s proposed split may be determined in Silicon Valley this week when feuding executives meet to hash out a deal that is acceptable to all factions. One of those powerful factions won’t be represented at the meeting and doesn’t even work for the global auditing firm. Yet some of EY’s retired partners are playing a key role in trying to block the deal.

☆ EY CEO: Very bullish on the UK, investment will continue
▼ + stars: | 2023-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY CEO: Very bullish on the UK, investment will continueCarmine Di Sibio, global chairman and CEO at EY, speaks to CNBC's Karen Tso at the Mobile World Congress in Barcelona, Spain.

Finance chiefs are coming into the year grappling with a variety of challenges, from rising interest rates and inflation to managing labor disruptions, pricing and inventory. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. “But…there’s more and more of a belief that any kind of downturn will be short and shallow, frankly. Some finance chiefs, meanwhile, are finding opportunities to expand in the volatile economy. You can’t take everything that your vendors are sending you.”Labor woes persistHiring, however, remains a challenge for finance chiefs.

☆ EY’s Split Faces ‘No Tremendous Hurdles,’ CEO Says
▼ + stars: | 2023-02-08 | by ( Jean Eaglesham | ) www.wsj.com time to read: +3 min

A proposed public sale of a 15% stake in the consulting company, raising about $11 billion, is scheduled for later this year. “I do see potential [further] delays because the deal is complicated,” Mr. Di Sibio said. Mr. Di Sibio is due to head the new consulting company, which needs everything from a new brand to an auditor. PREVIEWEY is hiring rival accounting firm BDO to check the books of the planned public consulting company, Mr. Di Sibio said. So the new EY consulting company name will have to be a made-up word, or a combination of two or three words, he added.

☆ EY says it hasn't seen 'a rash of talent that's all of a sudden available' despite huge tech layoffs
▼ + stars: | 2023-01-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

But it's not like there's a huge influx of talent now because of the widespread tech layoffs. The CEO of EY told Bloomberg on Wednesday it isn't seeing "a rash of talent" that's suddenly available. The consulting arm is expected to employ as many as 230,000 people, Di Sibio told Bloomberg on Wednesday. Other major tech companies that have cut staff recently include Amazon, Meta, and Salesforce. The rash of layoffs — which started last year — came after tech companies hired and expanded aggressively during the pandemic.

☆ EY Global CEO Carmine Di Sibio on planned spinoff and new era of consulting
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY Global CEO Carmine Di Sibio on planned spinoff and new era of consultingCarmine Di Sibio, EY Global chairman and CEO, joins 'Squawk Box' to discuss EY's planned spinoff, Di Sibio's thoughts on EY's audit and consulting businesses and more.

☆ U.S.-China friction stokes concern among some top finance bosses
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] Carmine Di Sibio, Global Chairman and CEO of EY, speaks at the 2022 Milken Institute Global Conference, in Beverly Hills, California, U.S., May 2, 2022. Anne Richards, CEO of the $610 billion money manager Fidelity International, put her level of worry about a potential decoupling of the two economies at 6 out of 10 when asked during a panel discussion. EY global chair and CEO Carmine Di Sibio put his own level of concern at 9 out of 10. EY's Di Sibio told the event U.S. administration officials were "extremely aggressive" about the extent of business with China particularly in technology, adding this was the case across much of the West. But the politics are really in the way and I am worried that they're not getting better," Di Sibio said.

☆ EY chairman: Next six to nine months will be tough, but CEOs are doing 'pretty darn well'
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY chairman: Next six to nine months will be tough, but CEOs are doing 'pretty darn well'The biggest issue for Europe and the U.S. is a lack of workers, EY CEO Carmine Di Sibio told CNBC, as the consultancy head discussed CEO confidence and company resilience in Davos.

☆ EY Hires Cargill CFO to Manage Finances of Consulting Spinoff
▼ + stars: | 2023-01-10 | by ( Mark Maurer | ) www.wsj.com time to read: +3 min

Ernst & Young recruited Jamie Miller, the departing chief financial officer of Cargill Inc., to lead the finances of its consulting arm, which the Big Four accounting firm is spinning off. Cargill on Monday said Ms. Miller plans to step down from the Minnesota-based agricultural company on Friday. To carry out the split, EY is looking to raise roughly $11 billion in equity and $18 billion in debt. The new consulting firm could struggle to establish itself amid strong competition and a slowing economy, researchers have said. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.

EY’s leaders last week approved separating the professional-services firm’s consulting and auditing businesses. The consulting firm, which doesn’t have an official name yet, has to make sure its branding doesn’t confuse prospective or existing clients, she said. EY trailed Deloitte and PwC in both its total revenue, $39.96 billion, and consulting revenue in the 2021 fiscal year. EY’s planned split has drawn comparisons to when Andersen Consulting separated from defunct accounting firm Arthur Andersen in 2001 and subsequently rebranded as Accenture. Companies could be inclined to stick with their existing consulting firm, rather than try out a new one, if they are uncertain about their outlook, Mr. Tellis said.

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