EY global chief executive Carmine Di Sibio ruled out a trade sale of the firm’s advisory business during a Friday morning call held for the firm’s more than 300,000 global staff.
Mr Di Sibio said no decisions had yet been made about whether to split the firm, in a briefing that that avoided providing any details about theHe said staff who remained at the audit-focused “AssureCo” would be able to earn higher salaries, and those who were at the consulting-oriented “NewCo” would be able to get equity in the company if it was listed.
Mr Di Sibio also said the culture of the consulting firm would be preserved because it would not be sold to a trade buyer, according to an attendee. The firm declined to comment. The sales pitch was similar to that provided to partners, with staff told there would be better opportunities in separate, and faster-growing, auditing and consulting arms, than there would be in the firm’s current combined structure.
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Source: FinancialReview - 🏆 2. / 90 Read more »