Danny McCance 13 Jul 2017 02:35pm

EY bolsters UK offering with 63 partner promotions

The Big Four firm's equity partner promotions in its UK business are part of the 669 partner promotions made globally in 2017

However, the number of promotions at the Big Four firm is down for the second year in a row.

In 2016 EY promoted 714 people worldwide to partner, which was fewer than the record number of 753 in 2015.

Of the promotions, 34 were made internally and 24 direct partner promotions from the firm’s competitors and the industry.

“Recruiting, retaining and developing diverse talent is a commercial imperative and key to providing our clients with exceptional service,” said Steve Varley, UK chairman, EY.

“That is why I am particularly proud of the number of female partners that have been promoted internally this year – 35% of our intake,” he added.

The firm is currently falling short of the target made in 2013 of at least 30% female representation in new partner intake, with 17 (27%) of the recent promotions being women in this latest round.

The target is based on a three year rolling intake.

However, EY is currently over its target of 10% for black and minority ethnic representation, with 13% as of the latest promotions.

“Creating an inclusive culture, where diversity is celebrated and our people are free to be themselves is a firm priority,” said Maggie Stilwell, managing partner for talent, UK and Ireland at EY.

“Coupled with cultivating an inclusive and flexible working culture, we run targeted initiatives that support the progression of female and BME talent throughout the organisation,” she added.

At the beginning of July, Deloitte promoted 57 partners in the UK, a portion of the 149 partners promoted in North West Europe in 2017.

So far, PwC has made the fewest promotions this year, after announcing at the beginning of July that they have promoted 31 equity partners in 2017, in addition to 21 promotions in the past 12 months.

KPMG is the last of the Big Four to announce its promotions for 2017 – the firm typically announces its partner promotions in October, in line with the firm’s financial year that runs from October to September.