Ernst & Young LLP’s Midlands practice has continued to expand as the firm announced UK growth of eight per cent for the year to June 2011.
The company has seen growth to £1.465 billion, up from £1.356 billion in the previous year.
The Midlands practice, which includes offices in Birmingham and Nottingham, has continued to grow over the last year with significant investment in the tax and advisory teams in the region.
Sara Fowler, senior partner for Ernst & Young in the Midlands, said: “The firm has had strong results nationally and that has been mirrored in the Midlands where the business has seen strong growth in revenues over the last year.
This is down to the success of both our advisory and transaction businesses and the investment we have made in people across our service lines.
“Our tax team has seen a number of new partner appointments during the year and we are committed to ensuring our tax practice is recognised as one of the best full service teams in the region.
“In line with Ernst & Young nationally we are also focussing on exports and our Going Global initiative is helping clients to look to new markets abroad to find growth.
“It has been a very positive year for the firm in the Midlands across all of our service lines and our increased headcount puts us in an excellent position going forward.”
Ernst & Young’s assurance business grew by 10 per cent to £444 million, while its tax practice grew by three per cent to £372 million.
The transaction advisory services business fell by two per cent to £279 million reflecting a difficult transaction market.
The advisory business achieved strong growth up 20 per cent to £370 million driven by client demand for our services across all sectors.
Ernst & Young’s work in financial services contributed strongly to the firm’s success this year, achieving double digit growth. Our investment in strategic solutions, such as, G20, Solvency II, IFRS, Claims Management, Risk Convergence, restructuring, FATCA is clearly paying off, and in many areas, we are now the market leading provider of these solutions.