Ernst & Young, New Zealand Managing Partner, Simon O’Connor, announced the launch of a dedicated New Zealand Financial Services Organisation (FSO), to provide local banking, insurance and wealth and asset management clients with the deep industry knowledge and experience to help them address some of their most complex challenges.
What is the market expertise of the EY’s FSO team?
Led by EY New Zealand Financial Services Leader, Paul Roberts, the wider financial services team encompasses over 100 assurance, tax, strategy and transactions, people advisory services, and business and technology consulting professionals, with plans to expand rapidly.
The team has financial services expertise in key growth areas like risk and regulation, tech, customer and growth, strategy and business transformation, financial performance, IFRS 17, open banking, sustainability, cybersecurity, actuarial and data and analytics.
EY New Zealand Financial Services Leader, Paul Roberts said: “The financial services sector is facing an increasing challenging operating environment, with competition from new market entrants, higher levels of regulatory scrutiny and rapidly evolving customer demands.”
“To remain relevant, financial services organisations need to embrace disruption and transform to become more digital, agile and automated. The Ernst & Young New Zealand FSO has been established to help EY clients address these needs, by bringing together the deep sector experience and skills that will support their business transformation.”
“I’m excited to be leading the team as we work with clients to create an even stronger, more trusted and sustainable New Zealand financial services ecosystem,” Mr Roberts said.
What is the purpose of the EY’s FSO team?
EY Oceania Financial Services Leader, Grant Peters said: “The launch of the Ernst & Young New Zealand financial services practice is another example of our ongoing commitment to providing professional services and support to the financial services sector.”
“In an environment increasingly categorised by rapid technological advancements, changing consumer behaviour and continued regulatory change, having a dedicated, multi-disciplinary team in place is critical in assisting financial services clients with the complex challenges.”
“Importantly, the New Zealand financial services team will also benefit from financial services provided by teams in Oceania and Asia-Pacific, increasing connectivity and providing both Ernst & Young clients and people with greater access to insights and skills from over 9,000 dedicated financial services professionals across the region,” Mr Peters said.