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  • EY - Globalization is shaping pensions policy reform - EY - Global
    and retirement system promises are creating a financial gap for consumers and opportunities and challenges for providers and governments The global financial crisis acted as a catalyst making concerns about funding long term liabilities a major public policy issue that will only increase in the years to come Need for local financial markets to evolve concurrently with growth in pension assets In many markets pension and retirement assets are becoming a dominant component of local capital markets stretching their capability and capacity To maximize and balance outcomes different levers in the local market need to evolve and better align to limit further stress Acceptance of a new level of regulation supervision governance and transparency The pension and retirement industry in many countries is as large as the banking sector or the annual gross domestic product This pales in comparison to the level of regulation supervision governance and transparency in the insurance and banking world This growing market and inherent risk to social and economic stability demands a new level of political regulatory and public attention An increasing focus on operational excellence Lackluster capital market returns have forced the pension industry to step up efforts to lower costs improve customer delivery and service and enhance risk management These operational excellence initiatives come at a substantial cost and will require significant change in behavior infrastructure and delivery systems Overall they will lead to a long overdue industrialization in this industry A recalibration of investment functions and investment management The global financial crisis provided a wake up call for systems and providers to reevaluate their investment strategy asset allocation policy and operating models Focusing on short term results has been a challenge at a time when there is a shift from often underfunded defined benefits to defined contributions or unfunded pay as you go promises Finding simplicity in complex systems Low voluntary savings rates low participation of young savers and low take up or switching of voluntary solutions are indicative of a lack of engagement and understanding by ultimate plan beneficiaries Improving buy in understanding and informed decision making among members is vital to encourage informed action Need to connect and become customer centric Through better customer engagement governments and providers can influence persistency reputation understanding and action Providers are seeing the value of pension and retirement systems as more than a balance of payments assets price and product features instead they are focusing on delivering customers what they want and improving the experience Graeme McKenzie EY s Global Pension Leader says The pension and retirement industry is becoming more global at an exceptional speed especially on the policy and delivery front which is impacting our government public and private sector clients The increasing importance of pension and retirement systems demands higher quality regulation supervision governance and transparency Discipline reasoning and hard decisions will be necessary to make the retirement world better fairer and sustainable over the long term to address the financial impact of a global demographic transformation Josef Pilger EY s

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-globalization-is-shaping-pensions-policy-reform (2016-02-10)
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  • EY appoints Jay Nibbe to Global Tax Leader - EY - Global
    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 Jay Nibbe to Global Tax Leader EY appoints Jay Nibbe to Global Tax Leader London 11 August 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY announces the appointment of Jay Nibbe to Global Vice Chair for Tax leading more than 35 000 tax professionals around the world He chairs EY s Tax Executive Committee and continues his role as a member of EY s Global Executive the organization s highest management body Nibbe who joined EY in 1985 was most recently the Chair of EY s Global Accounts Committee and Deputy Area Managing Partner for Europe Middle East India and Africa EMEIA Nibbe also previously served as Americas Vice Chair of Tax and Americas Tax Managing Partner He takes charge at a time when tax is commanding more attention in the C suite and in the boardroom These executives increasingly understand how getting tax right is critical to growing successfully in the global economy EY s network spans more than 140 countries providing clients with the right approach specialization and resources to address all of their tax needs both globally and locally Nibbe remains actively engaged in client services and continues to work as a senior advisory partner to several clients Prior to his leadership roles in the Americas

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/EY-appoints-Jay-Nibbe-to-global-tax-leader (2016-02-10)
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  • EY – Media and entertainment CFOs shift their focus on growth - EY - Global
    positioned to grow their companies through capitalizing on digital opportunities and through investments in technology digital talent and infrastructure as well as acquisitions and other deals Only 26 of senior executives surveyed said global economic uncertainty would be a challenge during the next three years compared to 62 two years ago showing a dramatic decrease in concern over the economy John Nendick Global Media Entertainment Leader at EY says The CFOs told us in no uncertain terms that the economy is no longer an obstacle and now is the time for media and entertainment companies to invest in growth and focus on building their businesses The industry is now poised to deliver on the promises it has been making the past several years but has been unable to achieve because of the economy The CFOs recognize the recession is over and it s showtime Despite the opportunities for growth the industry still faces many challenges A majority of CFOs identified the greatest obstacles for the industry during the next three years as technology and platform disintermediation 64 and an inability to persuade consumers to pay fair value for content 58 Still others identified structural and regulatory uncertainty 42 and reductions reallocations of marketing budgets 26 as major challenges for the future CFOs are positioning for growth and they see data analytics as the means to achieve it They are placing significant emphasis on data to improve decision making systems and processes But much work remains to be done While 59 of CFOs feel their companies successfully use data to respond to and upsell existing customers only 33 said their companies do a good job of using data to generate new business And while only 39 of CFOs believe their organization is good at sharing data 58 indicated that sharing data between business units would improve their organization s overall effectiveness Conversely as data analytics become more essential to business operations growing concerns over effectiveness and data overload also increase The industry expects its data storage to increase from 1 100 exabytes of available data in 2010 to 8 000 exabytes by 2015 CFOs expressed concern over the increasing difficulty of identifying any meaningful insight within this massively expanding amount of data Other key findings of the survey include Top priorities for the year ahead are the evolution of digital and online distribution 74 cost reduction and business efficiencies 34 creatively differentiating content 32 extending brands globally 32 and growth in new market segments 30 Emerging markets are no longer the top geographic focus for growth 72 of M E companies indicated their focus is on existing core markets Seventy two percent chose interactive media businesses as being best positioned to evolve and thrive in the future followed by cable television networks and channels 42 conglomerates 36 film and television production 30 and content and information services 30 The top actions identified to make companies more effective are attracting retaining talent 58 improved IT capabilities 42 deeper understanding of market trends

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-media-and-entertainment-cfos-shift-their-focus-on-growth (2016-02-10)
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  • EY appoints George Atalla to Global Sector Leader to its Government & Public Sector practice - EY - Global
    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 George Atalla to Global Sector Leader to its Government Public Sector practice EY appoints George Atalla to Global Sector Leader to its Government Public Sector practice Washington DC 11 August 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY announces the appointment of George Atalla to the role of Global Sector Leader to its Government Public Sector practice Atalla comes to this position after having recently served as a partner and vice president at Booz Company where he led their Government Public Sector practice across the Middle East and Africa regions Atalla will be based in EY s McLean Virginia office after having previously been based in Dubai Atalla has worked in over 30 developed and developing markets focusing on public private partnerships and outsourcing restructuring and organizational transformation policy reform and investment prioritization He also served as the Managing Partner for Booz s Egypt and Qatar offices with responsibility for business development and practice growth Atalla holds a Bachelor of Civil Engineering from the American University of Beirut an MBA from George Washington University an MSc in Transportation from Northwestern University and an MSc in Industrial Engineering from the Georgia

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/ey-appoints-george-atalla-to-global-sector-leader-to-its-government-and-public-sector-practice (2016-02-10)
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  • EY appoints Uschi Schreiber to Global Executive board - 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 EY appoints Uschi Schreiber to Global Executive board EY appoints Uschi Schreiber to Global Executive board London 11 August 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY is delighted to announce the appointment of Uschi Schreiber to Global Vice Chair Markets and Chair of the Global Accounts Committee The role sits on EY s Global Executive the company s most senior management body In this role she will represent EY s largest accounts on the Global Executive Schreiber comes to this role after serving as EY s Global Sector Leader for its Government Public Service practice from 2010 to 2014 She will continue to remain as EY s Global Markets Leader responsible for the organization s globally integrated go to market approach Schreiber is responsible for EY s global market enablement functions of Knowledge Industry Strategic Growth Markets Innovation Strategy and Planning and Business Development She is active in the market with the European Commission World Economic Forum and the B20 Task Force Schreiber is recognized globally as a diversity and inclusiveness leader She was appointed last month to the Women in Parliaments WIP Global Forum Advisory Board WIP is an independent international and non partisan foundation with the purpose of advancing society by building a network between women in Parliaments The role of the WIP Advisory Board is to ensure the

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/ey-appoints-uschi-schreiber-to-global-executive-board (2016-02-10)
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  • EY – Mining mergers and acquisitions remains subdued despite strong deal pipeline - EY - Global
    shows 112 deals in the sector during Q2 this year totaling US 9 5b Deal volume was down 21 on the previous quarter and down 41 on the same quarter in 2013 Total deal value was up 33 on the previous quarter primarily due to the US 3 6b acquisition of Osisko Mining Corp by Yamana Gold and Agnico Eagle Mines Similarly 1H comparisons show total deal values down 69 year on year to US 16 7b from US 53 8b the fourth consecutive year of decline Deal volumes for 1H 2014 were down 34 to 254 from 386 in 1H 2013 Downham says Deal making in the sector continues to be cautious partly due to the continuing commitment to capital discipline but also due to a lack of urgency over investment given the lack of competition for assets Some standout deals and hostile bids during Q2 combined with a strong deal pipeline and substantial capital waiting to be deployed by mining focused funds suggest that momentum is building For those brave enough to invest against the cycle there would appear to be good buy side opportunities Divestments feed the pipeline Major diversifieds are continuing to consider divestments as a way of reducing debt maximizing returns on capital and optimizing their portfolios however stronger balance sheets has taken the urgency out of these deals Downham says We do however think divestments of non core assets from the majors will pick up pace in the next six months While these assets may not be strategic to the divesting companies they are typically high quality assets and will likely attract strong competition particularly from private capital buyers Acquisitions by financial investors accounted for 20 of all mining and metals deal volumes globally in 1H 2014 Downham says The much anticipated influx of substantial capital from new mining focused private funds is taking longer than expected to hit the market This is partly driven by the complex nature of executing an investment which takes time regardless of size but also the lack of competition in the market for deals with investors happy to wait for clear signs that we are at the bottom of the market before making billion dollar plus commitments EY estimates the mining focused private capital funds have a war chest of at least US 10b and possibly as high as US 20b Drop in capital raising reflects divergence of fortunes While there was only a 15 drop in total proceeds raised by companies in the sector globally from 1H 2013 to 1H 2014 from US 168b to US 142b this masks an ongoing divergence of fortunes within the mining and metals industry Downham says The wealth gap between producers and explorers between those that have access to public debt markets and those that don t is still present The happy coincidence of thirst for yield among bond market investors and competition between banks for scarce major deal opportunities against a backdrop of near zero interest rates has proven a

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-mining-mergers-and-acquisitions-remains-subdued-despite-strong-deal-pipeline (2016-02-10)
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  • EY - Power and utilities Q2 14 deal activity hits four-year high - EY - Global
    comments With the volatility of gas prices and increased energy efficiency shrinking utilities revenues investors are now turning to mergers and acquisitions M A to drive growth and achieve financial and operation efficiencies The surge in deal activity in Q2 is likely to continue over the next six months with US cross state mergers and Middle East privatizations driving values up and volumes should be boosted by asset level renewable transactions in Europe and generation asset sales in the US and Asia Pacific Governments push privatization programs Governments across the globe are looking to invest in growth infrastructure but must first strengthen their balance sheets The effect of this will be an increase in asset sales in the P U sector Australia is looking at privatization activity closely and is expected to have a strong start to 2015 in this regard Difficult economic conditions in the European Union have seen several state owned assets offered up for sale over the past 24 months The resulting deal activity will provide opportunities for new investors outside of Europe such as China and Australia Turkey is also following the privatization route with sizeable M A activity in Q2 14 seeing generation asset deals of US 4b in the quarter Privatization reforms in China have seen the government offer up a large number of national projects to private investors However it will be challenging for foreign investors to compete with domestic buyers and alliances with local players offer the best chance of success Increase in levels of deal activity for majority of global P U market In the Americas deal activity in North America hit a five year high in Q2 14 reaching US 35 5b which is a significant increase from Q1 14 s US 6 46b deal value The increase in Q2 14 is mostly a result of US megamergers six of which exceed US 1b Latin and South America s Q2 14 deal value of US 2 9b was in line with Q1 14 deal value of US 3 1b This quarter activity was largely driven by Chile Peru and Colombia as opposed to Brazil which dominated Q1 14 Q2 14 deal activity spiked in Asia Pacific with deal volume increasing to 38 up from 21 in Q1 14 and deal value doubling to reach US 7 9b Domestic consolidation in China made up half the M A activity in the region In contrast Europe recorded a dip in deal activity as divestments declined over the quarter While volume remained steady in Europe value dropped 29 to US 12 4b compared to US 17 4b in Q1 14 Looking ahead transactions are likely to remain strong Market reform and unbundling are under way in several new geographies as regulators cut inefficiencies and governments look to raise capital to fund infrastructure The outlook for transactions will continue to remain strong over the next six months and we can expect to see more billion dollar plus transactions in the US as pressure grows

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-power-and-utilities-q2-14-deal-activity-hits-four-year-high (2016-02-10)
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  • EY – Urbanization and big cities will drive growth in rapid-growth markets - EY - Global
    financial turmoil in the second half of 2013 and early 2014 and a fast growing population strong investment rates and the rapid adoption of technologies will continue to grow rapidly over the medium term Political challenges exist in some economies in particular the on going conflict in Ukraine is weighing on growth prospects in emerging Europe Furthermore instability in Iraq has brought geopolitical risks to the fore and put pressure on oil prices On the other hand in economies such as India and Indonesia new political leaders with strong credentials in governance have recently come to power and must now usher change for accelerating growth Rajiv Memani EY s Chair of the Global Emerging Markets Committee comments While near term growth in several emerging economies hinges on the political will to implement second generation of reforms in the medium term fast growing populations and increasing productivity are expected to lift growth with cities especially in Africa and Asia expected to be the epicenter of this growth Urbanization and new technologies increase growth potential According to the report the economic output of China s 150 largest cities will triple from US 8 trillion today to US 25 trillion by 2030 China s urban development plan highlighted in March by the Chinese Government puts the urban consumer at the heart of its development with ambitious targets to improve rail infrastructure reduce emissions and ensure its cities are fit for the next generation A faster adoption of green technologies in China has the potential to lift its growth by 0 7 per year on average from 2025 to 2030 The growing number of lower middle income households with some disposable income is set to exceed 30 million by 2030 in Africa and South Asia with incomes above US 5 000 but below US 10 000 in Africa and India This growth will help to create markets of scale for mobile phone airtime cards and other consumer goods and services Exponential growth of cities It is estimated that by 2030 China Indonesia Nigeria and Ghana will have more than two thirds of the population living in cities with the population in Lagos increasing by a phenomenal 13 million By this time 40 of the 50 largest cities in the world based on GDP by consistent prices will be in China Outside of China Jakarta Istanbul and Sao Paulo will all rank among the world s top 20 cities in terms of economic output In Latin America it is estimated that between 2013 and 2030 Mexico City s GDP at consistent prices will grow by more than 60 faster than many European and Japanese cities The green economy reforms the government is expected to sanction soon in Mexico will have a direct impact on this RGMF expects these reforms to underpin medium term growth of 4 a year It is also estimated that Curitiba Brazil s sixth largest city will be one of the fastest growing cities in Brazil over the next 10 years helped

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-urbanization-and-big-cities-will-drive-growth-in-rapid-growth-markets (2016-02-10)
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