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EY Advisory - Will they make it?

 
#1 EY Advisory - Will they make it?
14/02/2006 18:13

Jonathan

Hello,

Just wanted to see if we could start an educated thread about E&Y's new advisory practice - to see if people think it will be a winner? They seem to be recruiting massively - good people and good salaries. Will thier strategy be enough? Are they doomed from the begining?

All opinions welcomed!

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#2 ...
14/02/2006 22:23

...

Doomed !! They're all doomed !!!

Please come back when you've got an intelligent question

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#3 Re: EY Advisory - Will they make it?
15/02/2006 01:04

sir lunchalot

Will it be a winner? Given the E&Y name and the money they're throwing at it, I think it'd be difficult for them not to have some success within the 2-3 years they're allowing for it to make a profit. However, I don't know think the advisory services offering will be a real "winner" in terms of quality, thought leadership or uniqueness. I think they've just rushed into things in order to get the services to market marginally ahead of the competition.

Recruiting massively? Yes. Good people and good salaries? From personal experience I disagree. I got an offer on Monday - from the partners I met in the run-up, I would only rate 25% as being up to scratch. 75% were frankly incompetent. Too many ex-auditors, not consultants, and not up to growing a business of this type. With the salaries on offer I don't think they could get much better though and I get the impression they may be hiring in bulk then trying to operate an up-or-out policy.

As you might have guessed from that, I don't think it's a coherent offering. Will their strategy be enough? Not as it is - there is still a lot of confusion internally about where the focus is and there is a lack of leadership and entrepreurialism to go out and actually win the business. Culturally a lot of people are still in the mindset where they can take a backseat on business development, and spend the time playing politics, without it being noticed on the bottom line. However, with the new chairman coming in with personal experience of consultancy, they may well get a kick up the backside and some sort of strategic leadership may emerge over the next 12 months.

Are they doomed? Certainly not, but neither do they have much of a competitive edge to my mind. There are some big risks that they'll have to overcome in terms of getting the right people on board - and in a tightening climate for talent that could be difficult.

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#4 Re: EY Advisory - Will they make it?
15/02/2006 08:30

jon

That was a great response, thank you. If you dont mind me asking, what level are you - were you satisfied with your offer and do you think youll accept ? (You didnt come off as too keen)

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#5 Re: EY Advisory - Will they make it?
15/02/2006 10:33

Anon

What exactly is their strategy???

When you say Advisory are you talking about corporate finance or management consulting?

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#6 Re: EY Advisory - Will they make it?
15/02/2006 11:08

jon

management consulting, their new consulting practice - the strategy side is called 'performance improvement'. what do you think?

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#7 What do I think....
15/02/2006 11:46

PAer

Hmm...the only issue I have is thier impartiality...My concern would be how often the strategy leads to the answer that the client needs a solution provided CGEY..

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#8 Re: EY Advisory - Will they make it?
16/02/2006 15:32

EY Advisor

Hi all

I currently work in EY Business Advisory. I think this is a very healthy discussion and can see some valid concerns. I.e. it is a complex market, lots of competition and overlap with strategy and other full service consulting firms.

I am not aware of any ex-Audit Partners in our group! Performance Improvement does not cover the full suite of offerings and nor are we sitting here playing politics. Client work is ongoing and we are building a strong practice. There is an element of opportunism (as with all startups) but going well to date.

Hope to see more opinions as we grow our business!!

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