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  • News - EY - family businesses face succession challenge as next generation look elsewhere for employment - EY - Global
    to take over directly after graduating while 4 9 plan to do so five years later Succession intentions have fallen by as much as 30 when compared with like for like figures in a comparable survey that took place in 2011 1 Peter Englisch Global Leader EY Family Business Center of Excellence says Family businesses face a challenge in convincing younger members of the family that their long term futures lie within their businesses Not only is there competition from the wider jobs market with young people keen to explore their options in today s fast moving economy but many also feel that they need to prove themselves outside of the family firm first In many ways this is a healthy attitude The challenge for family businesses is how to harness the next generation s ambitions to break free to benefit the family firm in the longer term While fewer next generation members intend to become successors those that do may be more motivated and better prepared Thomas Zellweger Chair of Family Business at the University of St Gallen says Clearly the succession career path is in competition with other career options such as taking another job or starting a company The healthier capital and job markets are the stronger the competition is from elsewhere This fall isn t necessarily bad news for family businesses While the number of successors may have declined those that actually wish to join the parental firm may be more motivated and better trained to take on the challenge Survey participants in Mexico 11 5 Belgium 8 9 and Slovenia 8 5 have the strongest intention of joining the family business five years after studies with those in the US 1 2 Israel 2 4 and Denmark 2 5 the least likely to follow in their parents footsteps Meanwhile female potential successors are less likely to want to take over the family firm than their male counterparts 4 3 of women want to take over the family business five years after graduations compared to 5 7 of men The size of a family business is one factor that appears to affect succession intentions with only 5 2 of next generation members wanting to take over at firm with two to five full time staff rising to 16 3 for family firms with more than 100 full time staff The study also identifies a number of potential drivers of succession intentions As GDP increases succession intentions decrease although it appears that as countries reach a certain GDP level they rise again Prof Dr Philipp Sieger Assistant Professor at the University of St Gallen adds In less developed countries taking over the parental firm is often the only viable career option As countries become wealthier the career alternatives become more numerous and attractive In this way only successors who are interested and capable should enter the family firm in countries where they have career alternatives In such settings it makes even less sense to pressurize children into

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-family-businesses-face-succession-challenge-as-next-generation-look-elsewhere-for-employment (2016-02-10)
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  • News - EY - the G20 is at risk of losing entrepreneurial and job-creating cultures - EY - Global
    with education policy that provides countries with an institutional framework that can supercharge the entrepreneurial ecosystem and drive sustainable gains The report supports that by honing education policy on relevant tools for entrepreneurship governments can foster a culture supportive of entrepreneurship from elementary stages of learning through to adulthood Rohan Malik Emerging Markets and Deputy Global Government Public Sector Leader at EY says With high youth unemployment persisting in some G20 countries and with ever present demands for innovation sustainability and social inclusion governments across the G20 are increasingly focused on channeling support to high impact entrepreneurship among youth In pivoting education to focus on the tools and skills necessary for entrepreneurship policies can support a culture supportive of entrepreneurship through a youth s lifetime The challenge then for policymakers is to uncover best in class policies to foster real improvement in entrepreneurial culture in their respective economies Education can support entrepreneurial cultures over several phases For many markets education policy focused on entrepreneurship would be viewed as a new model As a result the intended cultural shift it could foster would not all be immediate and in some cases may take many years For governments this would require committing to a long term strategy The report s six policy recommendations advise governments to engage over several stages with some instant near and long term initiatives that would put in place the foundations for a transformational shift in entrepreneurship culture The G20 YEA Summit will feed these recommendations into the G20 Leaders Summit taking place in November which will issue a communique addressing global business leaders entrepreneurs and policymakers on ways to offer young people the support they need to fulfill their potential The six recommendations are Create a G20 multilateral entrepreneurs startup visa instant initiative Multilateral visas or regional visa programs are crucial to improve labor mobility conduct business internationally and transfer positive entrepreneurial culture and norms throughout the G20 Some countries such as the UK and Canada already offer related visa schemes aimed at entrepreneurs and startups that allow highly skilled investors to make an instant impact on the ground Encourage international networking instant initiative New and young entrepreneurs need the opportunity to participate in international networking and collaboration with other entrepreneurs to exchange knowledge mentor each other and transmit an entrepreneurship culture Many EU countries offers student mobility programs that expose prospective entrepreneurs to international markets through government sponsored trade missions that instantly expand their ecosystems facilitate partnerships and promote the sharing of best practices Start teaching entrepreneurship early near term initiative Governments need to support entrepreneurship education from the elementary school level to engender an entrepreneurial mindset and expand entrepreneurial culture This comes through experiential learning and entrepreneurship training in schools as well as extracurricular programs Foster entrepreneurial programs through the secondary tertiary education near term initiative Education initiatives to foster skills learned in elementary and primary school years are critical at the secondary and tertiary level to deepen students entrepreneurial mindset and convert this thinking

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-the-g20-is-at-risk-of-losing-entrepreneurial-and-job-creating-cultures (2016-02-10)
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  • News - EY - Energy reform drives global power and utilities M&A activity amid slow quarter - EY - Global
    global power and utilities M A activity amid slow quarter Energy reform drives global power and utilities M A activity amid slow quarter London 3 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Global power and utilities transactions hit six year low in first half of 2015 Asia Pacific region records largest power and utilities Q2 deal value at US 9 3b Valuations remain strong reflecting ongoing investor confidence Energy reform has shown that it is an increasingly influential driver of deals activity in the global power and utilities sector even as M A reached a six year low of US 50 9b in the first half of 2015 according to EY s quarterly Power transactions and trends Q2 2015 report released today While 2015 started relatively strong global power and utilities deal volume and value fell in the second quarter of the year to just 96 deals worth US 21 2b Matt Rennie EY s Global Power Utilities Transactions Leader says Much of the M A fall off is due to an absence of megadeals in the US and a slowing of long running divestment agendas for European utilities Despite the deal slowdown valuations remain strong for many assets particularly in renewables T D and generation During the second half of the year we expect to see M A rebound as companies respond to the sector s ongoing transformation particularly regulatory reforms and electrification in emerging markets Activity in Europe and the Americas mirrored the global decline with deal value falling 50 and 13 from US 11 4b and US 7 2b respectively quarter over quarter The Americas renewables segment however showed strength in Q2 tripling the previous quarter s deal value with 15 deals worth US 3 7b The Asia Pacific region recorded 31 deals and the largest deal value in Q2 at US 9 3b while China saw the most deals with 86 of total regional deal value originating in the country This region is particularly impacted by reform with investors drawn by liberalization electrification and privatization efforts in India Indonesia Pakistan Japan and Australia Similarly reforms in Africa and the Middle East are attracting private sector investment in infrastructure for generation capacity expansion Rennie says Companies are adopting a more strategic approach when it comes to M A We ve seen that reflected in innovative financing structures investment in midstream infrastructure and renewables the rise of Asia Pacific and Africa as investment hubs and ongoing corporate restructuring in Europe Throughout the second half of 2015 we expect to see notable deals to emerge as companies to respond to a changing industry To download the report visit www ey com PTT Ends Notes to Editors About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-energy-reform-drives-global-power-and-utilities-MA-activity-amid-slow-quarter (2016-02-10)
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  • News - EY appoints former magic circle lawyer to lead its EU state aid competition and trade law practice in Brussels - EY - Global
    About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY appoints former Magic Circle lawyer to lead its EU State aid competition and trade law practice in Brussels EY appoints former Magic Circle lawyer to lead its EU State aid competition and trade law practice in Brussels London 1 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY has appointed Steven Verschuur as partner to lead on EU State aid competition and trade law further bolstering its global law practice He will be based in Brussels Steven joins from Clifford Chance where he served as Head of Competition in the Amsterdam practice from September 2012 dividing his time between Amsterdam and Brussels where he focused on EU State aid competition trade law and merger control He brings a wealth of experience particularly in the area of State aid around which he managed some of the most high profile and complex assignments in Europe There is an increasing demand for strategic legal advice on the State aid aspects of tax structures and rulings and Steven will be well placed to meet clients needs working in close collaboration with EY s International Tax teams Steven s arrival will also strengthen EY s merger control and competition law offerings which will support the firm s expanding transaction law practice and mark its inaugural international trade law practice Earlier in his career Steven practiced competition law for five years at Freshfields Bruckhaus Deringer and headed up the competition practice at a mid market firm in the Netherlands for three years In 2010 he obtained a PhD in Competition Law at Utrecht University the Netherlands EY s Law practice now comprises around 1 500 practitioners across 67 countries trebling its geographical reach since 2009 Cornelius Grossmann EY s Global Law Leader says We are delighted that Steven has joined EY His extensive experience in State aid competition and trade law will be a great asset to our practice Bringing in the right talent is central to our success and to building a quality service offering in a multidisciplinary environment We welcome Steven at an exciting time as we continue to hone and expand our global practice Ends Notes to Editors About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-appoints-former-magic-circle-lawyer-to-lead-its-eu-state-aid-competition-and-trade-law-practice-in-brussels (2016-02-10)
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  • News - EY bolsters cybersecurity effort with new offerings and capabilities - EY - Global
    CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY bolsters cybersecurity effort with new offerings and capabilities EY bolsters cybersecurity effort with new offerings and capabilities London 1 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY today announced that it will bolster its cybersecurity services by delivering some of the most advanced and cutting edge analytical capabilities to hunt detect and defend against future cyber attacks for clients EY strengthened its cybersecurity service offerings through agreements with leading technology providers such as Bit9 Carbon Black Fidelis iSIGHT Partners Resilient Systems ServiceNow Splunk Inc and ThreatConnect to deliver cutting edge cybersecurity tools to clients through EY s Managed Security Operations Center SOC These advanced tools have further empowered EY s global network of cybersecurity professionals by providing enhanced offerings to our clients The advanced cybersecurity tools being offered to the clients include End point monitoring Allowing deep insight into every computer within the client s environment Network Monitoring Collecting data in real time and enabling advanced attacker detection Threat Intelligence Tracking the specific threats relevant to clients leading to tactical and strategic countermeasure recommendations Advanced SEIM Correlating business prioritization against network and host based monitoring to alert the client to attack attempts Data Analytics Visualization Digging deep into behaviour based anomaly analysis Incident response service management Rapidly responding to attack attempts discovering the root cause and comprehensively remediating any impacts Ken Allan EY Global Cybersecurity Leader says We are seeing rapid growth in the number and sophistication of cyber attacks Through our enhanced capabilities our mission is to provide organizations with the most advanced defense enabling immediate detection and rapid response to such attacks These solutions shall be tailored specifically for their businesses and designed to mitigate against threats from advanced interactive attackers that put their critical business assets at risk Our enhanced offering is a reflection of our commitment to helping our clients solve their biggest most complex cybersecurity issues globally According to EY s recent Global Information Security Survey 2014 over half 56 of organizations said they are unlikely to detect a sophisticated cyber attack while only 5 of organizations have a threat intelligence team with dedicated analysts and external advisors that evaluate information for credibility relevance and exposure against threat actors Paul van Kessel EY Global Risk Leader says In the past we have focussed on improving security generally across the enterprise and we have succeeded at helping our clients solve cybersecurity related business issues However cyber attackers have evolved their tactics skills and capabilities In order to stay ahead we must evolve as well This capability only becomes possible through the successful fusion of timely and business relevant threat intelligence

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-bolsters-cybersecurity-effort-with-new-offerings-and-capabilities (2016-02-10)
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  • News - EY named a leader in Gartner's magic quadrant for SAP implementation services worldwide - EY - Global
    Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY named a leader in Gartner s Magic Quadrant for SAP Implementation Services Worldwide EY named a leader in Gartner s Magic Quadrant for SAP Implementation Services Worldwide London 19 August 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Magic Quadrant for SAP Implementation Services Worldwide null Ribbon 20 20Facebook blank link Middle Content title Facebook Magic Quadrant for SAP Implementation Services Worldwide source ey com null Ribbon 20 20LinkedIn blank link Middle Content title Linkedin Magic Quadrant for SAP Implementation Services Worldwide null Ribbon 20 20StumbleUpon blank link Middle Content title Stumbleupon Magic Quadrant for SAP Implementation Services Worldwide via EYNews null Ribbon 20 20Twitter blank link Middle Content title Twitter EY has been recognized as a leader in Gartner s recently published Magic Quadrant for SAP Implementation Services Worldwide EY was positioned for the first time as a leader based on the strength of its business approach in SAP solution based engagements investments in innovation and expanding competencies in support of SAP software in select domains and industries through acquisitions in various countries Dave Ryerkerk EY Global Alliance Leader says With our industry specific SAP software based resources and innovative solutions we offer our clients deep technical knowledge and a wide range of industry experience through our 5 200 professionals globally We are honored to be recognized as a Leader in Gartner s Magic Quadrant for SAP Implementation Services and are proud of our strategy that brings leading class and cutting edge technology competencies to our clients Gartner assessed 17 leading service providers for SAP solutions based on their ability to provide a comprehensive set of consulting system integration and implementation services across multiple SAP applications products and technologies and their ability to service multiple industries in multiple geographies Click here to access the full report Source Gartner Magic Quadrant for SAP Implementation Services Worldwide 23 July 2015 G00269493 Gartner does not endorse any vendor product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation Gartner research publications consist of the opinions of Gartner s research organization and should not be construed as statements of fact Gartner disclaims all warranties expressed or implied with respect to this research including any warranties of merchantability or fitness for a particular purpose ends About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all of our stakeholders In so doing we play a critical role in building a better working world for our people for our clients and for

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-named-a-leader-in-gartners-magic-quadrant-for-sap-implementation-services-worldwide (2016-02-10)
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  • News - EY - Highest M&A deals value for APAC in over a decade - EY - Global
    highest in over a decade and a 55 increase year over year Technology leads all sectors in both deal volume and value Second half outlook continues to look strong aided by favorable government measures in key economies Mergers and acquisitions M A activity involving Asia Pacific companies was robust in the first half of 2015 as companies continue to leverage the region as a growth driver With deals worth US 561 8b announced during the period the region recorded the highest deal value in over a decade and an increase of 55 against the same period last year This record high result is despite a 9 decrease in deal volume from 6 159 deals in H1 2014 to 5 621 deals John Hope Asia Pacific Transaction Advisory Services Leader at EY says Following an incredibly strong 2014 the first half of 2015 continues to be very good for M A globally In Asia Pacific we are seeing an increase in deal value across almost all sectors Companies however are not doing deals for deal s sake The decrease in the deal volume suggests a high level of discipline in selecting the right deals M A activities involving companies from Mainland China led the region in terms of value recording 1 393 deals worth US 247 6b representing an 88 year on year increase This includes inbound activities worth US 25b or a 211 increase against the same period last year In terms of deal volume Japan tops the chart with 1 500 deals worth US 79 4b Other active markets were Australia 688 deals worth US 54 1b India 645 deals worth US 27 8b South Korea 572 deals worth US 66 3b and Hong Kong 281 deals worth US 97 8b Technology tops all sectors in M A deals and value In the first 6 months of 2015 technology was the most active sector both in terms of deal volume and deal value The sector recorded 1 562 deals worth US 89 6b representing 18 and 90 year on year increases respectively The professional services sector ranked second in terms of deal volume witnessing 522 deals worth US 19 9b The financial services sector took the third spot in terms of deal volume witnessing 368 deals worth US 46 6b The majority of transactions took place in the investment companies and banking sub sector which shows that Asian markets remain attractive to the growth strategies of most of the domestic and foreign banks Apart from acquisitions companies also look to improve portfolio performance and shareholder returns through divestments According to EY s Global Corporate Divestment Study 2015 nearly two thirds of executives in Asia Pacific 60 expect the number of strategic sellers to increase in 2015 This suggests that there will be plenty of available assets for those that are ready to transact M A deal activity is expected to strengthen in the coming months specifically for countries such as Mainland China Australia South Korea and Singapore which are

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-asia-pacific-records-highest-manda-deals-value-in-over-a-decade-in-h1-2015 (2016-02-10)
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  • News - EY - Modest uptick for global mining M&A volume, while value rises by 18% - EY - Global
    Network Alumni Home Newsroom Modest uptick for global mining M A volume while value rises by 18 Modest uptick for global mining M A volume while value rises by 18 London 12 August 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share A modest uptick in Q2 2015 global mining and metals deal activity is expected to continue into the second half of the year albeit at a slow steady pace according to global professional services organization EY Signs of strategic buying emerging Gold coal and base metals targeted The latest quarterly mining deals analysis Mergers acquisitions and capital raising in mining and metals 1H 2015 shows a 2 increase in quarter on quarter deal volume to 86 deals in Q2 2015 compared to the previous quarter More interestingly deal value for the first half of 2015 increased 18 over the same period in 2014 to US 21 4b albeit this includes the US 8 7b BHP Billiton demerger of South32 Excluding the demerger Q2 2015 deal value was 13 higher than Q1 2015 Lee Downham EY Global Mining Metals Transactions Leader says With weak commodity prices putting pressure on margins earnings and debt serviceability the sector continues to be cautious against countercyclical investment The lack of momentum mainly on the buy side continues to be an issue in executing deals We are seeing limited signs of strategic buying emerging at the mid and lower end of the market which suggests some are thinking ahead and positioning themselves for the next round of growth Who s buying Industry acquirers continue to account for the vast majority of deals accounting for 82 of total deal value in Q2 and 77 for 1H 2015 on par with 1H 2014 Activity by financial investors retreated slightly accounting for 17 of deals by volume in Q2 However financial investors and other buyers from outside the sector accounted for just under a third of deal volumes for 1H 2105 Throughout Q1 and Q2 2015 there have been more mergers among mid tiers combining expertise and achieving economies of scale to reduce costs Gold coal base metals in buyer spotlight Gold accounted for 29 of all deals by volume in Q2 and there continues to be more activity between gold pure play companies seeking partnerships to position for growth and leverage synergies to advance projects Excluding the BHP Billiton demerger of South32 coal accounted for 43 of deals by value in the quarter however this included two megadeals with the vast majority of M A being low value deals reflecting the distress in the sector Downham says Several coal and gold assets that have been marked for divestment by the multi asset producers await completion or remain without buyers so we expect further deals in these commodities in the remainder of 2015 Base metals are touted as the most attractive acquisition targets in the short term due to favorable supply demand economics and we expect deal activity to increasingly reflect this

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-modest-uptick-for-global-mining-m-and-a-volume-while-value-rises-by-18-percent (2016-02-10)
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