Beth Ashmead-Latham 13 Aug 2018 02:02pm

EY to invest $1bn in new technology and innovation

EY will invest $1bn (£784.4m) in new technology solutions and innovation over the next two financial years, the Big Four firm announced today

The investment will cover new solutions in areas such as financial services, digital audit and tax, cyber, risk management and cloud-based technology.

It will add to EY’s existing annual technology investment and is part of a strategy to offer clients the latest disruptive technologies.

The announcement comes with new appointments. Nicola Morini Bianzino, previous AI lead for Accenture, will be EY’s chief client technology officer.

Steve George, previously chief information officer for Citigroup’s North American retail banking, mortgage and global commercial banking teams, will be EY’s global chief information officer, and Barbara O’Neill will be EY’s global chief information & security officer.

Discussing the pressure for clients to get ahead of disruption and technological change, Mark Weinberger, EY global chairman and CEO, said, “We see enormous opportunities in helping clients address these challenges and stay ahead of the technology curve.”

He explained that this investment will enable EY to “help businesses navigate industry disruption”.

Weinberger added that having made technological improvements to existing services, the investment will allow EY to build on “strong capabilities and invest even more in client and market solutions”.