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  • News - EY – Banks poor service and errors push businesses across the world to seek alternative options - EY - Global
    only do highly satisfied customers use twice as many products as dissatisfied customers but dissatisfied customers are not that likely to stick around especially given the rise in alternative offers from other banks and non bank providers Businesses are prepared to switch banks especially in emerging markets Regionally businesses in the emerging markets were more likely to have recently changed banks than those in developed markets 27 of customers in emerging markets in Asia Pacific and 26 of customers in emerging markets in the Americas have changed banks in the past 12 months compared to 10 and 15 in the same respective developed markets 2 The survey also shows how open companies in emerging markets are to making a change More than half of the commercial banking customers in emerging EMEA markets 53 indicated they would consider switching their primary bank over the next year 42 of emerging Americas and 29 of emerging Asia Pacific While pricing is among the most often cited reasons for switching providers companies that have recently changed banks indicate a range of influences including product capabilities access to capital bank reputation and geographic coverage as key reasons for making the change But switching is not pain free Businesses that decide to switch providers are not always very satisfied Increasingly rigorous compliance requirements have resulted in almost half of those surveyed 46 describing their first experience with their bank as frustrating Banks in developed Asia Pacific markets had the highest level of customer dissatisfaction with 77 customers reporting they were less than highly satisfied Of the customers who said they were less than highly satisfied four areas were cited where banks should focus on making improvements accuracy of transition 34 reducing paperwork and documentation 27 improving communications 26 and shortening the duration of the process 13 Steven Lewis Global Lead Analyst Banking Capital Markets EY says Multiple requests from different departments and repeated requests for the same piece of information are major pain points for new customers Over the longer term management teams will need to make investments in both processes and technology to simplify and improve the experience In the short term setting reasonable customer expectations providing more frequent communications and improving coordination across different parts of the bank are quick and easy ways for banks to improve the customer experience and foster loyalty from day one Businesses are using digital and mobile banking but have concerns about security An increasing number of customers are doing more of their banking via digital channels The survey shows that 80 of commercial banking customers are using online banking every week and almost 70 are using mobile banking weekly When asked about reasons for not using online and mobile channels more often the most commonly cited obstacle was security 39 were concerned with the security of online banking 42 were concerned with the security of mobile banking Among the other obstacles were slow speed 22 for online and 25 for mobile and poor functionality 17 for online and

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-banks-poor-service-and-errors-push-businesses-across-the-world-to-seek-alternative-options (2016-02-10)
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  • News - EY - Media and entertainment M&A appetite hits three-year high with a greater focus on 'bite-sized' deals - EY - Global
    EY for the 11 th Capital Confidence Barometer Media Entertainment The study further reveals that C suite executives expect the size of their deals over the next twelve months to be less transformative than just six months ago Media and entertainment executives expect increase in hostile takeovers Deal pipeline expected to bulge further Cash flows balance sheets and intent to increase debt financing are strong Forty percent of respondents said their companies anticipate pursuing acquisitions during the next 12 months which is almost double the expectation of 22 in 2012 This uptick in expected deal volume is due to a combination of respondents confidence in the global economy and the low cost of capital While the appetite for acquisitions is at a three year high the size of those acquisitions is expected to shift toward middle market companies with the intent to improve margins move into new geographies and access new content and technology The vast majority of executives 83 reported their maximum single deal value would be less than US 250m 14 will be US 250m to US 999m and 3 will be greater than US 1b in size Six months ago only 48 of executives said their deal size would be less than US 250m with 52 expecting their single deal value to be in the US 250m to US 1b bracket Tom Connolly Global Media Entertainment Transaction Advisory Services Leader at EY says Deal volume is expected to increase including some landscape changing deals However media and entertainment executives are focusing on more prudent bite sized deals that will enable their companies expand their core businesses in a more measured more disciplined and risk averse way In this type of an environment it is critical for companies to increase the number of potential deals in their pipelines to create strong momentum in their middle market acquisition strategies The Barometer also shows 47 of M E executives anticipate an increase in hostile or contested acquisitions during the next 6 to 12 months due primarily to the embedded and long term value of attractive assets and the relative low cost of capital to obtain those assets The report is a survey of nearly 100 senior executives from large media and entertainment companies around the world that gauges corporate confidence in the economy identifies boardroom trends and provides insight into companies capital agenda Other key findings include Increased global political instability is the greatest perceived risk to M E companies during the next 6 to 12 months 39 Globally 74 of respondents have confidence in their corporate earnings up from 52 one year earlier M E companies are more confident in their plans to increase workforce numbers with 46 planning to add jobs up from 32 one year earlier Planned growth for the current year is primarily a function of organic activities 86 of respondents with growth from acquisitions likely to benefit subsequent years Nearly half 47 of M E companies expect their debt to capital ratio to increase during

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-media-and-entertainment-m-and-a-appetite-hits-three-year-high (2016-02-10)
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  • News - EY - Fewer mining deals but transaction pipelines building - EY - Global
    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 Fewer mining deals but transaction pipelines building Fewer mining deals but transaction pipelines building London 14 November 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share There were fewer deals but higher deal value in the global mining and metals sector during Q3 2014 amid signs of transactions momentum building according to EY EY s quarterly analysis shows 119 deals completed in Q3 2014 with total deal value of US 16 2b Deal volume was down 17 but total deal value was up 51 on Q2 2014 largely due to the completion of Glencore s US 7 0b divestment of Las Bambas EY Global Mining Metals Transactions Leader Lee Downham says Mining and metals transactions activity is in something of a holding pattern Deal pipelines are still very strong but are moving slowly As has been the case through most of this year we are seeing signs of momentum slowly building but there is little urgency to complete deals quickly he says We are starting to see more strategic acquisitions take place again particularly amongst mid tier companies and there has been some renewed interest in deals in frontier regions particularly in the gold and copper space while valuations are low The 83 mining and metals sector respondents to EY s latest Capital Confidence Barometer also points to increasing M A activity with 46 expecting to pursue an acquisition in the next 12 months nearly double that six months ago and the highest level in two years The Barometer shows mining and metals companies are also confident in key deal metrics including the likelihood of closing acquisitions 60 up from 26 six months ago the quality of acquisition opportunities 60 up from 34 and the number of acquisition opportunities 67 up from 42 Q3 2014 deals in mining and metals 119 deals in Q3 down 17 on Q2 2014 and down 34 on Q3 2013 Q3 deal value US 16 2b up 51 on Q2 2014 and up 39 on Q3 2013 January September 2014 YTD 414 deals with total deal value US 34 1b versus 566 deals with total deal value US 65 4b for the same period in 2013 Assets in frontier markets accounted for 21 of cross border deal value in Q3 2014 up from 3 in Q2 2014 Copper assets accounted for nearly half 46 of all Q3 2014 acquisitions by deal value Q3 2014 capital raising in mining and metals Total capital raising in Q3 2014 was US 64 4b down 29 on Q2 2014 but up 52 on the same period in 2013

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-fewer-mining-deals-but-transaction-pipelines-building (2016-02-10)
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  • News - EY - Dealmaking on track for 'blockbuster 2014' as technology M&A soars - EY - Global
    A to its latest post dotcom bubble highs The search for growth in an uncertain global economy led to eight big ticket cross border deals with targets in the US where economic growth is considered more certain Consumer internet growth drove deals involving a range of related technologies including online and mobile payments social networking gaming and e commerce Ongoing healthcare industry change in the US drove two big ticket deals and many smaller deals Online and mobile video technologies whether for games media and entertainment business collaboration or consumer interaction were heavily targeted Corporate cross border deals drive records Corporate dealmakers continued to drive the growth in the third quarter of 2014 particularly European and Asian buyers targeting US companies Cross border deal value soared 168 sequentially and 33 YOY to US 32 7b after three consecutive declines At 332 deals cross border volume was up 51 YOY and 7 sequentially Overall corporate dealmakers increased aggregate value 40 sequentially and 9 YOY to US 65 3b and volume 33 YOY to 855 deals Volume in the Americas grew YOY driven by the pervasive themes of cloud SaaS and smart mobility as well as big data analytics healthcare IT HIT security and payments Deal volume soared in Asia Pacific and Japan APJ in 3Q14 driven by increased M A activity in Australia China and India Aggregate value in APJ also rose strongly due to big ticket deals targeting US companies Companies in Europe the Middle East and Africa EMEA focused on driving growth by acquiring US companies which pushed EMEA volume and value to record levels Jeff Liu Global Technology Industry Transaction Advisory Services Leader at EY says Technology corporate development teams stand today at the intersection of rapid disruptive innovation induced by the five technology megatrends and global economy uncertainty that has caused a sudden increase in equity markets volatility Megatrend related innovation drove the strategic dealmaking that led to several technology M A records in 3Q14 but prolonged volatility could slow or even stall M A growth We will keep a wary eye on volatility but we are certain of this much the innovation driving technology M A growth is not slowing down Confidence is high among technology executives Coinciding with the report launch EY has also released its biannual Technology sector Capital Confidence Barometer CCB which also points to a strong technology M A outlook Ninety six percent of the 163 technology executives surveyed expressed confidence that the global economy is stable or improving Moreover according to the study 83 of technology respondents expressed confidence in their own corporate earnings well above the 77 average for all industries and a big jump from 64 in the April survey However most telling were the M A specific results 59 of technology respondents expect global M A markets to improve in the next 12 months and 40 expect M A levels to remain at current levels Moreover the aggregate number of deals in respondents pipelines increased dramatically from April

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-dealmaking-on-track-for-blockbuster-2014-as-technology-m-and-a-soars (2016-02-10)
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  • EY – Consumers across the world trust insurers less than banks - EY - Global
    customers Trust in insurers is lagging especially in mature markets Globally 70 of consumers trust insurance companies which is lower than the levels of trust in supermarkets 84 banking 82 car manufacturing 80 and online shopping sites 78 In mature markets such as Europe 61 and Australia 53 there are even lower levels of trust but consumers in developing markets such as Latin America 81 and the Middle East and India 79 have more trust in their insurer Consumers want more attention from their insurer Forty four percent of survey respondents indicated that they had had no contact from their insurance providers in the past 18 months But 57 of people would prefer to hear from their insurer more than once a year and 56 of consumers report having to proactively contact their insurance company The survey found that the interactions between insurers and consumers currently occur so rarely that any one point of contact can significantly shift the perception of insurers and brokers in the consumer s mind When they do communicate the outcome is usually positive globally 70 of customers report a positive outcome from their interaction with insurers Handy says These financial products do really matter at the end of the day especially when customers have to call on them Consumers want insurers to anticipate their key decision points for them and insurers need to recognize that just one point of contact at the right time can make a real difference By delivering services beyond policies such as timely information that promotes healthier living safer driving or better financial outcomes insurers have a real opportunity to transform consumer perceptions about the industry However they will have to get better with data in order to deliver this Very few in the industry are getting this right The ways in which insurers engage with consumers require significant attention Consumers are far from delighted with outbound communications across all regions Japanese consumers report the lowest level of satisfaction with just 4 being highly satisfied However at the top end of the scale insurers in North America and the UK are not performing that well either with just 21 and 19 of their customer being highly satisfied respectively Digital and remote channels are fast reaching parity with traditional face to face channels In fact 80 of customers including 44 of seniors would consider any proposed channel rather than in person for all types of transactions and inquiries Handy says It s clear that insurers have yet to get direct to consumer right in most markets And even where there is a broker or an agent involved this doesn t mean the customer is getting what they really need in terms of information The insurance provider ought to be ensuring that all their customers receive this regardless of whether they are served through a broker With the rise of digital insurers are increasingly better placed to do this so the race is on to see who can do this most effectively and

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-consumers-across-the-world-trust-insurers-less-than-banks (2016-02-10)
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  • EY - Small-cap deals to fuel M&A in power and utilities as acquisition appetite hits two-year high amid growing investor confidence - EY - Global
    are acquiring wind and solar power assets However despite the sentiment favoring deals under US 250m the conditions continue to be ripe for large transactions as well Market reform and privatization initiatives in countries such as Greece and Israel continued divestment in Europe and consolidation in the US are expected to deliver large deals in 2015 Pipeline grows further as climate provides ripe conditions for bullish deal intentions At US 125b the total deal value in the first nine months of 2014 already equals 2013 s full year deal value according to EY s Power transactions and trends Q3 2014 report In addition nearly two thirds 63 of P U executives expect the M A pipeline to expand further over the next year this is more than double the number expecting expansion six months ago An accelerating M A pipeline is the clearest indicator of future activity A further sign of improved deal climate sees a third 35 of the Barometer respondents having more than five deals in their pipelines over double the number half a year ago Q3 2014 saw the highest third quarter deal value US 38 6b since Q3 2010 Deal activity in water and wastewater treatment rose significantly led by China with deal volume increasing 53 in the quarter globally Renewables deal value reached a three year high of US 7 3b in Q3 2014 driven by the US where record wind capacity is under construction which ensures the trend is likely to gain traction Utility divestments are behind a strong deals pipeline in the renewables sector where Europe and the US have historically dominated deal activity However new M A hotspots are emerging with Sub Saharan Africa now firmly on investors radar Mr Rennie notes As we move toward 2015 the attractiveness of stable and contracted cash flows from both renewable and regulated businesses will continue to be the key force behind M A in P U I expect the flow of capital to emerging nations to rise as utilities in developed markets look for growth and geographic expansion Utilities drive to add stable cash flows and governments desire to raise capital provide ripe M A conditions While Europe and the Americas have historically been at the center of M A activity in the P U sector the latest EY studies suggest emerging markets will host more transactions in the future For example India is selling stakes in a number of state firms to cap the fiscal deficit South Africa Kenya and Ethiopia are expected to emerge as the largest markets for renewables between 2014 and 2016 Countries such as Nigeria Morocco Algeria Israel Saudi Arabia and Qatar are anticipated to host more deal activity going forward And Latin America is expected to see major transactions amid reforms in Mexico Major factors behind bolstered M A sentiment in the P U sector Big ticket privatizations and mergers make Europe an attractive destination for foreign investors Chinese investors seize European sales opportunities and remain front runners

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/EY-small-cap-deals-to-fuel-m-and-a-in-power-and-utilities (2016-02-10)
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  • News - EY announces participation at the World Congress of Accountants - EY - Global
    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 announces participation at the World Congress of Accountants EY announces participation at the World Congress of Accountants Rome 10 November 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY marks the 2014 World Congress of Accountants WCOA in Rome on 10 14 November 2014 by reinforcing its long standing commitment to the audit profession and its importance The 2014 Congress takes place at a time of great change challenge and opportunity for the profession the capital markets governments businesses and their boards audit committees and finance functions standard setters and regulators The WCOA convenes these key stakeholders for dialogue and discussion about the importance of the role all play in serving the public interest Felice Persico EY s Global Vice Chair of Assurance and member of EY s Global Executive says EY s participation in the WCOA underscores our strong and unwavering commitment to the auditing and accounting profession and the importance of audit quality and innovation Our investments are substantial and include investments in technology data analytics people thought leadership processes and methods Our goals are to improve and innovate to continue to meet the challenges serve the public interest and thereby enhance investor confidence in the capital markets Persico leads EY s delegation of senior partners participating at the WCOA which include Dan Montgomery Deputy Chair IAASB and Task Force leader for Auditor Reporting Dan is EY Global Director of Assurance Standards Methodology Implementation Dan will participate in the session

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-announces-participation-at-the-world-congress-of-accountants (2016-02-10)
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  • News - EY advances ambitious growth for its strategy consulting practice - EY - Global
    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 advances ambitious growth for its strategy consulting practice with new global leadership hire EY advances ambitious growth for its strategy consulting practice with new global leadership hire London 6 November 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY is executing ambitious plans to grow its strategy consulting practice to over 2 500 professionals by 2020 both organically and through continued acquisitions Its fast growing consultancy business has made 11 acquisitions across the globe in the last year alone Four of the acquisitions specifically boosted strategy consulting capabilities helping the organization service its clients faster and better Jacques Mulder who recently joined EY as the Global Advisory Industry Market Strategy Leader will guide a global team addressing industry and market challenges helping clients improve business performance find new sources of growth and expand in today s global market place Mulder joins EY from Deloitte Consulting where he was National Chief Strategy Officer for Life Sciences and Healthcare and Corporate Strategy Leader with responsibilities for global expansion in Africa Asia Europe and Latin America Mulder brings proven experience in research and development the commercialization of new products and services and emerging business revenue models Norman Lonergan EY s Global Vice Chair Advisory says This year we announced revenue growth of over 14 and if we are to achieve our goal of being a US 15b distinctive advisory business by 2020 we will continue to build momentum in our strategy consulting practice by attracting deep industry strategy leaders like Jacques and driving both organic and inorganic growth Cheryl Grise EY s Global Advisory Strategy Leader says We are excited to welcome proven leaders like Jacques to help us on this journey and further demonstrate our commitment to exceptional client service Over the next few years we will be looking to further boost our capabilities to advise companies on growth particularly in emerging business disciplines that cross multiple industries Jacques Mulder EY s Global Advisory Industry Market Strategy Leader says EY has embarked on an ambitious growth journey and is explicit about its aspirations to grow and tackle big industry and market issues head on Our clients are facing unprecedented competitive pressures and drastic change in every industry The rapid convergence of industries technologies and increased consumerism could mean we are heading for a perfect storm which will require an approach to influence the entire ecosystem in ways like never before I look forward to leading this global team partnering with our clients and solving some of the largest and most complex market and industry challenges EY s global advisory

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-advances-ambitious-growth-for-its-strategy-consulting-practice (2016-02-10)
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