Risk transformation consultancy ifb SE joins EY

19 December 2022 Consultancy.uk 2 min. read
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Big Four firm EY has announced the acquisition of ifb SE. The international financial and risk transformation consultancy will enhance EY’s finance and risk digital transformation services, enabling the company to provide a wider range of solutions for the financial services industry.

EY EMEIA Financial Services Regional Managing Partner, Omar Ali, commented, “The expectations for financial services firms to transform their businesses has never been higher. We are delighted to be welcoming Christian Moser and Claus Stegmann and the ifb SE teams to EY, so that we can continue to do this for more clients around the globe.”

At present, Ali noted that clients are looking for EY teams to provide transformation services with the support of EY alliance partners like SAP. ifb has similarly spent recent years fulfilling such needs, and the firm’s specialists will now join EY’s growing European financial services technology consulting businesses – a team which already grew by 40% in the last year.

Risk transformation consultancy ifb SE joins EY

For the last three decades, ifb has been providing technology enabled transformation services to clients in accounting, controlling, regulation, risk management and compliance work. A global SAP Partner for more than 25 years, will also bring broad experience and know-how in financial services SAP domain and architecture to EY. The firm boasts more than 400 employees, including partners, across Germany, Switzerland, Austria, Poland, Netherlands, Luxemburg, US, Canada and Colombia will join EY.

This acquisition will benefit ifb by providing its clients with easier access to the full range of services they require to undertake large, complex financial and risk transformation projects. By uniting with EY, the company will be able to develop holistic architecture for customers, while also enabling more efficient regulatory compliance. Its professionals will operate under the single EY brand around the world.

Christian Moser, ifb Group Managing Director, noted, “ifb brings a unique technology capability, which aligns closely with EY business consulting teams’ experience, skills and knowledge. The combination of ifb services in technology and business consulting, and EY broader consulting services, will provide an even more powerful value chain to support clients in the finance transformation space.”

The move comes as EY looks to drive its growth agenda for its consulting business across the UK and Europe. The Big Four firm aims to invest another £75 million in the UK alone over the next four years, with the aim of doubling the size of the division.