Ernst Young
“Can EY transform from a traditional audit and tax partnership into a technology-enabled managed services platform for financial institutions without cannibalizing its regulated audit independence?”
Founded1989
HQLondon, England, United Kingdom
IndustryProfessional Services / Advisory & Assurance
The story
EY is a legacy Big Four professional services partnership founded in 1989, providing audit, tax, and advisory services globally. The firm has expanded into technology-enabled managed services (EY Financial Managed Services Platform) and advisory work for financial institutions navigating embedded finance, BaaS, and open banking. A proposed demerger of its audit and consulting arms ('Project Everest') was explored in 2022-2023 but abandoned. EY is not itself an embedded finance company but advises and audits the ecosystem.
Last 12 months
—
Product timeline
1989
Ernst & Young formed through merger of Ernst & Whinney and Arthur Young & Co., creating one of the Big Four global accounting and advisory firms.· pivot
2013
EY rebrands from 'Ernst & Young' to 'EY' globally, modernizing its identity while maintaining its partnership structure.· pivot
2022
EY launches 'Project Everest', a proposed split separating its audit and advisory/consulting businesses; the plan is ultimately abandoned in 2023.· pivot
The stack
Accounting gap: none