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  • EY news – appoints Gary Hwa as Regional Managing Partner for its Asia-Pacific Financial Services Organization - EY - Global
    Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions 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 Gary Hwa as Regional Managing Partner for its Asia Pacific Financial Services Organization EY appoints Gary Hwa as Regional Managing Partner for its Asia Pacific Financial Services Organization Hong Kong 5 May 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY today announced the appointment of Gary Hwa as Regional Managing Partner of its Asia Pacific Financial Services Organization FSO The FSO is a fully dedicated and integrated entity with a unique approach focused exclusively on servicing the needs of EY s clients in the financial service industry It represents many of the largest most well respected names in asset management banking capital markets insurance and wealth management and Gary oversees its operations across four Asia Pacific markets ASEAN Greater China Korea and Oceania In addition to Asia Pacific EY s other FSO regions are the Americas EMEIA and Japan which together employ 35 000 professionals across 30 countries worldwide The Asia Pacific FSO was launched in 2011 and employs 6 500 professionals providing integrated assurance tax transaction and advisory services Gary brings with him over 25 years of industry experience and a unique mix of perspectives global connectivity and cross border expertise given his Asian heritage Western mindset and rich financial services experience Prior to taking on this role Gary was EY s Americas FSO Advisory Performance Improvement Leader was a founding member of the Risk Management and Regulatory Advisory practice in Financial Services in the Americas and has served many of EY s largest global financial services clients In addition to bolstering EY s offering to clients across the region Gary will also be lending his knowledge and experience to Hong Kong s financial services industry in an advisory capacity The Hong Kong Government has appointed Gary as a Member of the Policy Research Committee of the Financial Services Development Council Established in 2013 the Council is a high level cross sectoral advisory body to engage the industry in formulating proposals to promote the further development of Hong Kong s financial services industry and map out the strategic direction for development Gary s tenure in this role is from 5 April 2015 to 16 January 2017 Ends

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-appoints-gary-hwa-as-regional-managing-partner-for-asia-pacific-fso (2016-02-10)
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  • EY news - One third of full-time workers globally say managing work-life has become more difficult – younger generations and parents hit hardest - EY - Global
    the tension of dual priorities for younger generations about half of millennials and Gen X cited increased responsibilities at work as a leading cause coupled with more than two in five citing increased responsibilities at home Countries where parents found it most difficult to manage work life versus non parents were Germany the UK India and the US Approximately half 46 of managers globally are working more than 40 hour weeks and four in 10 say their hours have increased over the past five years Globally younger generations are seeing their hours increase more in the last five years at a time when many are moving into management and starting families 47 of millennial managers reported an increase in hours versus 38 for Gen X and 28 for Boomers Of managers full time working parents 41 have seen their hours increase more in the last five years than non parents 37 2 Top reasons to quit minimal wage growth lack of advancement excessive overtime For companies looking to retain employees as the economy improves and as more millennials move into management and become parents EY s global research looked at the leading reasons full time workers quit The top five reasons were minimal wage growth lack of opportunity to advance excessive overtime hours a work environment that does not encourage teamwork and a boss that doesn t allow you to work flexibly Other leading factors in the top 10 were tied to flexibility and included a flexibility stigma or perception that people who work flexibly or take leave will suffer career consequences lack of workplace flexibility altogether including an option to telecommute and too much overnight travel Parents are more likely than non parents to mention a lack of opportunity to advance as a reason to quit demonstrating continued career ambition after having children 3 What do workers around the world want in a job After competitive pay and benefits the top five things employees say are very important in a potential job are being able to work flexibly and still be on track for promotion which was tied at 74 with working with colleagues including my boss who support my efforts to work flexibly Other flex perks full time employees seek are the ability to work flexibly informally when needed receiving paid parental leave and not working excessive overtime Millennials globally are more likely than other generations to say it is important to receive paid parental leave onsite or subsidized child care and telecommuting 1 2 days a week Interestingly two thirds of full time employees would prefer being able to relocate closer to family over reducing overnight business travel receiving onsite or subsidized childcare an ability shut off emails and calls when needed and telecommuting 4 Economy s impact on marriage work education and family planning The economy played a significant role in the challenges full time workers face and impacted their lives in a wide variety of ways in the last five years More than one in

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-one-third-of-full-time-workers-globally-say-managing-work-life-is-difficult (2016-02-10)
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  • News - EY - Honoring legacy but continuing to innovate drives family business success - EY - Global
    clear consistency in how these top family businesses are run 87 have clearly identified who is responsible for succession 70 are considering a woman for their next CEO 90 have a board of directors 90 have regular family or shareholder meetings to discuss business issues 76 refer to themselves as a family business in their branding 81 engage in philanthropic activities 83 expect spending on cybersecurity to increase Carrie Hall Americas Leader EY Family Business Center of Excellence says Overall the companies surveyed manage to remain entrepreneurial and committed to innovation Even the oldest family business surveyed in its ninth generation does so What s more interesting is that these companies honor their legacies without being stuck in the ways of the past Given that 64 of the family businesses surveyed predict that they will expand into other markets in 2015 it is apparent they are hungry for growth To accomplish it they are investing in new talent increased production and better systems Seven keys to success according to the report Successful family business embrace succession Eighty seven percent of the respondents have clearly identified who is responsible for succession implying that processes to handle traditional transitions as well as potential emergencies are well in place Family businesses lead the way with women in leadership positions Globally 70 of respondents are considering a woman for their next CEO They average five women in the C suite and four being groomed for top leadership positions More than half 55 have at least one woman on their board In governance family is first The majority of respondents 90 have a functioning board of directors and most of those boards are made up of family members Nearly half 48 6 are exclusively family members and only 28 have an equal number or greater of non family voting members on their boards Healthy communication and healthy conflict lead to a healthy business Participants in our survey report that they care deeply about their family members 81 90 have regular family or shareholder meetings to discuss business issues 70 have regular family meetings to discuss family issues and 64 have a family council that meets regularly Family business branding builds trust Seventy six percent of respondents report they refer to themselves as a family business in their advertising websites social media press releases and or other promotional materials Sustainability is valued by family businesses Survey respondents value and implement corporate social responsibility CSR and sustainability practices with over 50 reporting a high commitment to CSR practices and an impressive 81 engaging in philanthropy In addition 85 have a code of ethics 47 have a family foundation and 37 report that they will increase their philanthropic activities in 2015 The specter of cyber risk looms large The majority 90 say they are confident or very confident that their business is effectively addressing cyber risks Most of the participants 83 report they expect spending on cybersecurity to increase Some family business leaders 25 don t know how

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-honoring-legacy-but-continuing-to-innovate-drives-family-business-success (2016-02-10)
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  • News - EY - GCC countries can gain an extra US$17.7 billion through diversification - EY - Global
    to EY s Growth Drivers 2 report Digging beneath the surface Is it time to rethink diversification in the GCC The report which uses a tracker to look at the levels of diversification across the GCC and how to speed up progress was launched at the Economist event Future of Work Middle East EY launches Diversification Tracker which benchmarks the GCC countries both globally and against each other Study identifies transport financial services tourism telecoms and R D as the sweet spot where regional strengths economic impact and nationals employment preferences converge Gerard Gallagher MENA Advisory Leader EY says Dependence on oil and growing youth unemployment are the GCC s biggest economic challenges With recent oil price volatility diversification has returned to the top of the GCC agenda it s an opportunity worth 17 7 billion To put that into context it is more than three quarters of the entire flow of foreign direct investment to the GCC region for 2013 The EY Diversification Tracker which benchmarks the GCC countries both globally and against each other provides a standardized basis for assessing the degree to which economies have moved away from dependence on oil It focuses on three aspects export complexity the share of the non oil sector and private versus public sector spending which have been combined to give a percentage of diversification relative to the highest global performer Multiplier sectors that fall in the sweet spot The report identifies a sweet spot where regional strengths economic impact and nationals employment preferences meet allowing all three factors to be achieved The best drivers of diversification are those that have the strongest linkages with the rest of the economy These sectors are said to have a high economic multiplier in other words a dollar of investment translates into far more than a dollar of GDP due to the stimulation of other sectors Sectors that fall in the sweet spot include transport financial services retail and tourism telecoms and R D says Gerard The analysis of multiplier sectors in hydrocarbon economies shows that additional investment in oil and gas brings the least additional return to GDP at 1 30 and affects just 7 other sectors Construction is at the opposite extreme It has the highest economic multiplier averaging an impact of US 1 80 in GDP for every dollar invested in construction activity This trickle down feeds into almost every other sector Michael Hasbani New Markets Leader MENA Advisory Services EY says The key is not for governments to pump more public money into these sectors The public sector needs to shift from being the main investor to being the enabler and driver of business resetting the incentives removing regulatory obstacles encouraging collaboration and providing world class infrastructure and services The goal for diversification is not what is achievable in each individual country it is how Gulf companies and governments can find innovative proactive and profitable solutions to challenges such as resource scarcity demographics and digitalization that are having a profound

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-gcc-countries-can-gain-an-extra-us17-7-billion-through-diversification (2016-02-10)
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  • News - EY sends six high performers to Monaco for its 2015 Accelerating Entrepreneurs program - EY - Global
    and insight sharing opportunities at EY s World Entrepreneur Of The Year event in Monaco between 3 7 June 2015 as well as ongoing support from EY The six will receive mentoring from Growth Coaches at EY World Entrepreneur Of The Year TM in Monaco where they will network with leading entrepreneurs from around the world Participants will receive on the job advice around long term growth and better working from a seconded EY Vantage Advisor The six participants hail from Nigeria the US Indonesia United Arab Emirates Turkey and Bulgaria The final six were selected by an independent judging panel of Growth Coaches assessed through criteria such as entrepreneurial spirit social impact innovation and leadership The final participants who will attend the 15 th annual World Entrepreneur Of The Year are Gossy Ukanwoke BAU Research and Development Nigeria Sarah Kauss S well Bottle US Stefanie Kurniadi Nasi Goreng Mafia Indonesia Idriss Al Rifai MENA360 United Arab Emirates Bulent Tekmen ininal Turkey Ivaylo Penchev Walltopia Bulgaria Bryan Pearce Global Leader EY Entrepreneur Of The Year and Venture Capital says As enterprises scale up they have a huge impact on their communities and the wider world through the jobs they create and the innovative products and services they offer That s why it s so important we support them at this critical stage of their journey by opening up our network to them The EY World Entrepreneur Of The Year event brings together some of the world s finest and most accomplished entrepreneurs many of whom have grown to become global market leaders Accelerating Entrepreneurs is a chance for tomorrow s market leaders to learn from these people with hands on advice at the event and ongoing mentorship and support to help them on the next stage of their growth journey Winners will receive a comprehensive program of advice support and mentorship including A 90 minute advisory and coaching session at EY World Entrepreneur Of The Year where participants present their business plans to a panel of Growth Coaches which will provide feedback and direction The opportunity to form ongoing mentoring relationships with Growth Coaches and EY Entrepreneur Of The Year country winners Attendance at the annual EY World Entrepreneur Of The Year forum all expenses paid to meet and network with leading entrepreneurs from over 60 countries who will gather in Monaco An Advisor from EY s Vantage volunteer program which aims to improve entrepreneurs key business processes seconded to their business for six weeks to help address their biggest obstacles and create long term business goals for growth The Growth Coaches are Branko Milutinović CEO of leading gaming company Nordeus Serbia Diane Foreman Chairman and CEO of New Zealand s Emerald Group New Zealand Ariel Pfeffer co founder of Latin America s Punta Tech Meetup Uruguay Ken Goldman CFO of multinational Internet corporation Yahoo US Ivan Teh founder CEO and Managing Director of Malaysia s Fusionex Malaysia Edgar Bronfman Jr Endeavor Board Member Managing Partner at Accretive LLC and

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-sends-six-high-performers-to-monaco-for-its-2015-accelerating-entrepreneurs-program (2016-02-10)
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  • News - EY - Q1 mining deals dip to US$5.9b as private capital waits - EY - Global
    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 Q1 mining deals dip to US 5 9b as private capital waits Q1 mining deals dip to US 5 9b as private capital waits London 27 April 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Increased interest in gold assets and a small uptick in private capital activity are the limited bright spots of a subdued first quarter of deal activity in the global mining and metals sector Less than a third of companies focused on growth Buyer competition identified as key challenge to deal strategies EY analysis shows the total value of completed deals in Q1 in the sector dropped 18 to US 5 9b compared to the same quarter last year while volume nearly halved year on year to 79 deals Both deal volume and value in Q1 2015 fell by around a third compared to Q4 2014 While divestments of non core and distressed assets particularly in the coal and gold sectors remained key drivers of deal activity acquisitions by private financial investors accounted for 28 of deal volume in Q1 albeit of a small total EY Global Mining Metals Transactions Leader Lee Downham says While private capital investors continue to show patience distress in the sector is likely to be the key driver of activity Companies in the iron ore and coal sectors face the most immediate financial challenge but there is a wider need for restructuring across the sector and we may see quality assets coming to the market in order to release much needed capital among multi commodity producers Mid tier consolidation to unlock synergies and increase scale to lower costs is emerging in the gold sector particularly in North America and Mexico Downham says Interestingly buyer competition was identified as a key challenge to deal strategies by more than a third 35 of the mining and metals sector respondents in EY s latest biannual Global Capital Confidence Barometer and we expect to see that play out in some commodities earlier than others EY s Global Capital Confidence Barometer is a biannual survey of more than 1 600 executives in 54 countries including 63 respondents from the global mining and metals sector Not surprisingly increased volatility in commodities and currencies was the main factor concerning mining and metals respondents in the Barometer identified by 39 of respondents as the greatest economic risk to their business over the next 6 to 12 months The Barometer found the proportion of mining and metals companies focused on growth has fallen from to 29 compared to 44 a year ago reflecting

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-q1-mining-deals-dip-to-5-9b-us-dollars-as-private-capital-waits (2016-02-10)
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  • News - EY - African market shows momentum for private equity exits after 38 percent increase in 2014 - EY - Global
    and 31 December 2014 a 38 increase from 29 exits in 2013 and the largest total since 2007 when there were 34 exits The data based on EY research and statistics from AVCA is released at the start of the 12 th Annual AVCA Conference this week in London Sachin Date EY Europe Middle East India and Africa EMEIA Private Equity Leader says Africa s exit opportunities have continued to improve as the market matures While exits remain a chief concern for firms in the region the question now facing many private equity firms in Africa and many other emerging markets is Does the calculus change in an environment of moderating and in some cases uneven growth adversely impacting the pace of investments So far the answer has been no Dorothy Kelso Director Head of Strategy and Research at AVCA says With Africa s investment landscape steadily maturing it is promising to see the strengthening of the exit environment It is also encouraging to note the broadening of exit routes over the past year with increasing options available for investors to realize value The continued momentum emphasizes the enormous potential of African private equity and with increased intra African investment we expect this is unlikely to slow down in coming years Private equity is playing an increasingly important role in Africa s growing economy The past several years have seen a marked increase in investment activity as local firms see more attention from global limited partners and global funds dedicate new resources to the region in the form of talent and capital As a result the pipeline of potential exits is growing more rapidly than at any point in the region s history Graham Stokoe EY Africa Private Equity Leader says Showing healthy exits is an increasingly important issue for private equity in Africa Last year proved that private equity firms could successfully exit their portfolio investments and return cash to limited partners We expect this exit activity to continue increasing as there are still a number of companies that private equity invested in during the PE investment boom in 2007 and 2008 and then there are a number of newer PE funds that need to show increased exit activity as they raise second and third funds Financial services remained the most common sector for exits in 2014 20 Health care was the second most active sector in 2014 18 followed by personal and household goods 10 and retail 8 as increasing consumer expenditure made these sectors attractive to trade and private equity buyers Secondary buyouts accounted for nearly a quarter 23 of exits in 2014 compared to 15 overall between 2007 and 2014 underscoring the increasing importance of PE to PE deals and the growing PE ecosystem in Africa South Africa continues to lead in exits with 42 of all activity between 2011 and 2014 The West Africa region was the second most popular region for exits during that period 26 while East Africa s exit activity was 14

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-african-market-shows-momentum-for-private-equity-exits-after-38-percent-increase-2014 (2016-02-10)
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  • News - EY - Technology transformation fueled record deal making in 1Q15 driven by IoT, security smart mobility and cloud technologies - EY - Global
    fueled by technology enabled digital transformations from corporate technology and non technology buyers alike which continue to disrupt multiple industries 1Q15 aggregate value of disclosed value for global technology deals hit US 77 1b higher than any quarter since 2000 and up 16 year over year YOY and 72 sequentially Quarterly deal volume for global technology M A deals climbed to 981 deals in 1Q15 up 29 YOY and 2 sequentially for the fifth consecutive post dotcom bubble quarterly record The first quarter of 2015 featured a return of big ticket corporate deals but a decline in private equity PE activity Although the first quarter is typically the weakest for global technology M A 1Q14 set a post dotcom bubble 1Q record and 1Q15 has climbed 16 higher than the year ago quarter with aggregate value of US 77 1b This marks the highest ever post 2000 quarterly total Even though PE buyers were mostly on the sidelines in 1Q15 non technology buyers more than picked up the slack At US 19 5b they more than doubled their 4Q14 total and increased more than six times over 1Q14 This quarter saw health care IT HIT average value rise above all other deal driving trends because of a single deal that exceeded US 10b Meanwhile IoT tripled in aggregate value over 4Q14 on the strength of several IoT flavored semiconductor sector consolidation deals Likewise values for security big data payment and financial technologies smart mobility and cloud SaaS also rose over the previous quarter but values for gaming and advertising and marketing targets declined Jeff Liu Global Technology Industry Leader Transaction Advisory Services at EY says The blur between tech and non tech that we see in 1Q15 s record setting technology M A will accelerate The Internet of Things shows why it drives the integration of digital sensors processing connectivity and security into virtually every industry s products And that pushes tech companies to deliver more comprehensive solutions increasing blur and spurring more M A Other key highlights 1Q15 aggregate value of disclosed value deals hit US 77 1b higher than any quarter since 2000 That s up 16 YOY and 72 sequentially Quarterly deal volume climbed to 981 deals in 1Q15 That s up 29 YOY 2 sequentially and a fifth consecutive post dotcom bubble quarterly record The IoT and HIT were the biggest deal value drivers of 1Q15 followed by cybersecurity financial and payment technologies smart mobility and the cloud IoT accelerates cross industry technology blur by adding network enabled digital sensors to other industries everyday products PE volume and value declined while non technology buyers increased value again after a strong 4Q14 Cross border aggregate deal value more than doubled YOY and jumped 59 sequentially it captured a 42 share of total quarterly value Looking ahead robust deal making expected Liu says We expected a strong start for global technology M A in 2015 but not quite this strong Non technology buyers were the wild card they

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-technology-transformation-fueled-record-deal-making-in-1Q15 (2016-02-10)
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