Ernst and Young Middle East announces new growth initiatives for 2010

Particular strategic focus for the next year will be placed on entrepreneur-led regional companies with their ability to benefit the most from the upturn and their potential as future market leaders. Ernst & Young's Strategic Growth Markets network is dedicated to serving the unique challenges and changing needs of fast-growth companies around the world.

As regional businesses move towards more sustainable and green practices, Ernst & Young also confirmed that it intends to build on its regional Climate Change & Sustainability Services offering to clients. The practice will be led by Amjad Rihan, Director, Climate Change & Sustainability Services at Ernst & Young Middle East.

Ernst & Young integrated its offices in Morocco and Tunisia to the Middle East network in early July - adding a total of 200 professionals to its growing headcount. It is now the only one of the Big 4 professional services firms to have fully-owned offices in all countries of the Middle East and North Africa.

Along with regional initiatives, Ernst & Young reiterated its ability to offer the best client teams to wherever they are required around the globe, with the intention to develop proprietary intellectual capital and expand its pool of industry sector expertise.

Ahmed Al Aiban, Chairman, Ernst & Young Middle East, said:

"We have performed very well in 2009, thanks to the continued hard work of our 4,200 people across the Middle East and North Africa. Our economies have gone through some fundamental structural shifts in response to the changed economic and business climate. This was a period where we worked even more closely with our clients to assess and address the challenges they faced."

He added, "At a time marked by global contractions in capital - both human and funds - we are pleased to report a marked growth of our business within the region. We have increased our investments in people and will undertake a region-wide recruitment drive in 2010. We also aim to strengthen our female workforce in keeping with our commitment to their recruitment and advancement; we now have three women Partners and are looking to increase this number significantly."

Earlier this month, Ernst & Young announced combined worldwide revenues of $21.4bn for the fiscal year ended 30 June 2009 (FY09). Year-over-year revenues on a comparable basis decreased a modest 0.2%. Revenues in the Europe, Middle East, India and Africa (EMEIA) Area grew by 1.8% in local currencies.

During the same period Ernst & Young hired 37,800 people globally - 29,000 permanent staff and 8,800 interns.

"What sets Ernst & Young apart from our competitors is the fact that we offer seamless services not only across functions but across national borders. This gives us the advantage of operating as a cohesive global organization. The result is a global mindset, a truly integrated practice and the ability to utilize our teams to serve clients anywhere across the world. This has been one of the single largest contributors to our growth across many markets including the Middle East," says Mark Otty, Area Managing Partner, EMEIA.