Ernst & Young creates single business on back of Asian boom

Ernst & Young will combine all 87 of its individual country practices in Western and Eastern Europe, the Middle East, India and Africa into one business.

The professional services company will work as a single unit from July, led by a single executive team with a market value of £5.7bn. The firm will employ more than 60,000 people in total.

Mark Otty, currently the head of our UK practice, has been nominated to be the area managing partner for Europe, Middle East, India and Africa, and David Sun and Jim Hassett were confirmed as Far East co-area managing partners.

"The moves we announced today reflect the increasingly global nature of our borderless business environment, which is changing the expectations of both our clients and our people, and which requires nothing less than a truly global approach from our organisation," said CEO Jim Turley

"This integration is part of our long term investment in Asia's rapidly growing markets. By even more closely integrating these practices, we will further improve our ability to serve the businesses of the Far East, as well as those global businesses which are taking an increasingly active presence in many Far East markets, including China," said chief operating officer, John Ferraro.