Former EY chairman Steve Varley Joins private equity firm Warburg Pincus

Steve Varley has joined Warburg Pincus as a senior advisor. He joins the private equity investor having previously been the chairman and managing partner of EY for the UK and Ireland.

“Steve’s deep sector expertise, global leadership experience, and strong relationships across the services ecosystem make him an invaluable addition to Warburg Pincus,” said David Reis, managing director for industrials and business services at Warburg Pincus. “He has been a trusted advisor to CEOs, Boards and government, and his insights will help shape our investment theses and deepen our reach in high-growth segments of the services ecosystem.”

Global private equity firm Warburg Pincus has been a private partnership since 1966 – and has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies. With more than 220 companies in the firm’s active portfolio, it spans multiple sectors and geographies, with offices in New York, Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.

Varley is currently serving as the chair of Unity Advisory, a consulting firm launched this year with the backing of Warburg Pincus. While Varley commented as the firm announced its plans that the Big Four remain “a classy bunch”, Unit Advisory is looking to park tanks on the quartet’s lawn, as clients “are looking for a proposition that is super client-centric”.

Experience

Earlier in his career, Varley himself has plenty of Big Four experience. Most recently, he served as global vice chair for sustainability at EY, advising some of the world’s largest companies on long-term value creation through sustainability initiatives. Prior to that, he was chairman and managing partner for the UK and Ireland, leading over 20,000 professionals and driving the firm’s growth and innovation

He has also held numerous advisory and non-executive positions throughout his career, including as a business advisor to two prime ministers, and a special advisor to the United Nations. In addition to serving as Chairman of Unity Advisory, he also chairs the boards of DWF Group and Liverpool Football Club Foundation.

He brings three decades of experience to the role with Warburg Pincus. Looking ahead, he will support the firm’s industrials and business services group, with a focus on professional services opportunities, and companies at the intersection of services and technology. He will also engage across the broader Warburg Pincus platform globally, contributing to the firm’s value creation and deal origination capabilities.

“I have long admired Warburg Pincus’s thesis-led approach, global and growth-oriented mindset, and long-term investment philosophy,” said Varley of his new role. “Having worked with the team first-hand through my role in Unity Advisory, I’m excited to continue working with Warburg Pincus to identify and grow exceptional businesses in the services space, particularly as technology and innovation continue to reshape the industry.”