Tuesday, February 15, 2011

Ernst & Young Ranked Number One Consulting Firm in the Middle East and North Africa

Ernst & Young MENA has been ranked No.1 consulting firm by FY 2009 revenue in the Middle East and North Africa region by Kennedy’s Middle East and Africa Consulting Marketplace 2010-2013 report.

This extends to each of the three sub-regions of the GCC, Levant and North Africa, and covers a broad spectrum of consulting and business advisory services including strategy, operations, management, IT, risk and HR consulting.

It also covers advisory services for transactions, tax consulting and forensics.

The report points to Ernst & Young’s long presence in the region and in important relationship markets such as Saudi Arabia, Kuwait, Bahrain and the UAE, affirming that "a long-standing presence ensures a solid foundation with key local clients and governments." It also highlights the firm’s strong financial consulting services
and points to its strength in Islamic banking as a "powerful asset."

"Early on, Ernst & Young made a far-sighted commitment to the Islamic banking industry, developing knowledge, skill sets and a special team. Today the firm is a respected provider of solutions to these clients," Kennedy analyst and the report's author, Karen Nickel Anhalt, observed.

Commenting on the findings of the report, Abdulaziz Al Sowailim, Chairman, Ernst & Young MENA says: "We are proud of our long history in the region, which extends to almost eight decades. We have a deep understanding of the market, and are backed by the international knowledge and skills of the entire EMEIA region, in which we are fully integrated. We believe there is more room for us to grow as we move forward with our ambitious plans."

Tariq Sadiq, MENA Markets Leader, Ernst & Young adds: "Among the top 3 consulting firms, as evaluated by Kennedy, our MENA practice is 60% larger than the second ranked and more than double the size of the third ranked consulting firm. We strive to maintain exceptional quality of service delivery to our clients and are pleased that our investments over the years have paid off. Our continued emphasis will be on acquiring the best knowledge and skills from within the region, on developing our people and in particular developing the nationals of each of the countries that we operate in."

The report highlights that Ernst & Young’s approach to advisory focuses on helping clients "transform and sustain their business performance, focusing on the risk and business operations” to “‘co-develop’ solutions with staying power."

Produced regularly by Kennedy, the report estimates the market size for consulting across the Middle East and Africa at US$4.15 billion for 2009. It states that the region, which is among the hottest markets for consulting in the world, "is experiencing solid growth in demand from companies and organizations for consulting services that will enable them to grow and become more agile."

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