Hints and tips:
...EY executives have clashed over whether age should be a factor in appointing a new global leader, as the Big Four firm’s mandatory retirement rules complicate the race to succeed Carmine Di Sibio....
...Truncale will replace Carmine Di Sibio, who is retiring in June in the wake of the collapse of a plan to spin off EY’s consulting arm into a new public company....
...TPG’s approach raises the prospect of a revival of the plan and comes at a delicate time for EY, which has not yet chosen a replacement for global chief executive Carmine Di Sibio....
...In a memo sent late on Thursday and seen by the Financial Times, global chair Carmine Di Sibio said that “changes proposed recently have arrived at an advanced stage in the transaction planning....
...The debacle has raised questions over the leadership of both Boland and Carmine Di Sibio, EY’s global chair, who had been the architect of Everest and had pushed for a partner vote to go ahead....
...One former colleague said: “Carmine is nothing if not stubborn. He may yet see this through.”...
...In a three-page memo seen by the Financial Times, the retired US partners say the plan as envisaged threatens to weaken both halves of the firm, while also asking whether EY’s global chief executive, Carmine...
...Project Everest was championed by global chief executive Carmine Di Sibio as a way to free both sides of the business from conflict-of-interest rules that prevent consultants from selling many of their services...
...EY’s global chief executive Carmine Di Sibio won agreement from country leaders last year to split the $45bn-in-revenues firm, to free consultants from conflict-of-interest rules that limit them selling...
...EY boss Carmine Di Sibio’s right-hand man has emerged as a frontrunner to take over as global head of the Big Four firm in a leadership race triggered by the collapse of its attempted break-up this year....
...Truncale will replace Carmine Di Sibio, who is retiring in June in the wake of the collapse of a plan to spin off EY’s consulting arm into a new public company. Read more on EY here...
...EY’s global chief executive Carmine Di Sibio has told partners he plans to retire next year, sparking a race to lead the accounting and consulting firm after the collapse of his plan to split it in two....
...Global boss Carmine Di Sibio, the driving force behind the attempted break-up, told partners last month that he would step down in June 2024 but insisted he was proud of what the firm had tried....
...This was the case before Everest and will continue into the future,” partners were told in a note from global chair and chief executive Carmine Di Sibio....
...Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley....
...Carmine Di Sibio was derided by some colleagues as a mere “caretaker” when he was appointed as global boss of EY in 2019....
...And she’s an ally of Carmine Di Sibio. She was in favour of the split....
...Boland and Carmine Di Sibio, EY’s global chair, said they were “making progress on the key elements needed to move forward on Project Everest”, using EY’s code name for the plan to spin off its consulting...
...FT’s US accounting editor Stephen Foley and accountancy correspondent Michael O’Dwyer explain why that shakeup didn’t happen....
...Monetary policy: Vice chair for supervision at the Federal Reserve Michael Barr speaks at a conference co-hosted by the New York Federal Reserve alongside the president of the Federal Reserve Bank of New...
...EY’s global boss Carmine Di Sibio will run the firm’s spun-out consulting business if partners vote in favour of a plan to break up the Big Four accounting group....
...A case in point has been the debacle at EY, whose global chief executive Carmine Di Sibio argued that both the accounting and the consulting sides of his firm would benefit from being split....
...Carmine Di Sibio said he had a “high degree” of confidence the deal would go ahead despite being “paused” on Wednesday....
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