The big four firm is looking to rapidly expand its trans-Tasman footprint.
EY launches NZ financial services practice
EY has established a dedicated Financial Services Organisation (FSO) in New Zealand.
EY New Zealand managing partner Simon O'Connor said the team will provide local banking, insurance and wealth and asset management to clients, with deep industry knowledge and experience to help them address some of their most complex challenges.
Led by EY New Zealand financial services leader Paul Roberts, the wider financial services team currently encompasses more than 100 assurance, tax, strategy and transactions, people advisory services, and business and technology consulting professionals, with plans to expand rapidly.
Mr Roberts said the financial services sector was facing an increasingly challenging operating environment, with competition from new market entrants, higher levels of regulatory scrutiny and rapidly evolving customer demands.
“To remain relevant, financial services organisations need to embrace disruption and transform to become more digital, agile and automated,” he said.
“The EY New Zealand FSO has been established to help EY clients address these needs, by bringing together the deep sector experience and skills that will support their business transformation.
“I’m excited to be leading the team as we work with clients to create an even stronger, more trusted and sustainable New Zealand financial services ecosystem.”
The team has a wide range of financial services experience both locally and globally in key growth areas including risk and regulation, technology, customer and growth, strategy and business transformation, financial performance, IFRS 17, open banking, sustainability, cyber security, actuarial and data and analytics.
EY Oceania financial services leader Grant Peters said the launch of the EY New Zealand financial services practice was another example of the firm’s ongoing commitment to providing professional services and support to the financial services sector.
“In an environment increasingly categorised by rapid technological advancements, changing consumer behaviour and continued regulatory change, having a dedicated, multi-disciplinary team in place is critical in assisting financial services clients with the complex challenges they are facing,” Mr Peters said.
“Importantly, the New Zealand financial services team will also benefit from financial services provided by teams in Oceania and Asia-Pacific, increasing connectivity and providing both EY clients and people with greater access to insights and skills from over 9,000 dedicated financial services professionals across the region.”