Ernst & Young MENA plans to hire at least 2,000 new people to fulfil ambitious growth plans in 2011. These new recruits will be across all four service lines: Assurance, Tax, Transactions and Advisory. Already the largest of the Big 4 professional services organizations in the region by size of revenues and numbers of staff and offices, this will add to its 4,200 people across 20 offices in 15 countries in the Middle East and North Africa.
Last week, over 3,000 Ernst & Young partners from across Europe, the Middle East, India and Africa (EMEIA) met in Paris to discuss future plans for growth and areas of further investment.
Mark Otty, EMEIA Managing Partner, Ernst & Young said: "Our global integration has enabled us to operate more effectively across country borders. Realizing this competitive advantage means bringing it to life for our people and our clients. 2010 also marked the fourth year of our previously announced US$1 billion global investment initiatives. Underlining the shift in global economic power, much of our new investment has been earmarked for emerging markets and the program exceeded expectations, with more than US$1.2 billion ultimately invested."
Ernst & Young earlier announced combined global revenues of US$21.3 billion for the fiscal year ended 30 June 2010. Global revenues in the second half of the financial year increased by 5.3% in US dollars.
This year Ernst & Young expects to support the global economic recovery by increasing its recruitment of new people in FY 2011, including recruiting heavily in the emerging markets with over a 1,000 people in Africa, 2,000 plus in the Middle East & North Africa, 2,500 in India and China and more than 1,000 in Russia. The 2010 Universum global recruitment survey of nearly 130,000 students, released earlier this month, placed Ernst & Young as number three among all employers worldwide and as the most attractive place for graduates to work in more markets than any of its competitors.
Abdulaziz Al-Sowailim, Chairman, Ernst & Young MENA, said: "I am confident that we will continue to provide great opportunities for our people. Our strategy is to ensure continuity by nurturing and developing the best people in their local environments. This year, we have already hired over 1,000 new people across MENA and admitted 20 partners."
He added: "The demand from clients has grown over 2010 as they focus on core competencies and look for the best professional services organization available to advise them during the recovery process. Thanks to our area and global integration we are uniquely positioned as the recovery takes shape to provide quality services for our clients wherever they operate across the region and around the world."
