Ernst & Young Named Top Consulting Organization for Financial Services

NEW YORK, Nov. 29, 2010 /PRNewswire/ -- Ernst & Young has been named the overall winner of the Operational Risk & Regulation's annual consultancy rankings for the second consecutive year, and placed first in six of twelve risk and regulatory consultant service categories. The first place category rankings included:

• Basel II/III
• Corporate governance
• Fraud/Financial crime prevention
• Operational risk
• Operational risk software selection and implementation
• Treating customers fairly

"Demand for consultancy services has increased in this era of regulatory change, and in turn, we have seen a continued up-tick in demand worldwide for advisory services across asset management, banking and capital markets, and insurance sectors," said Hank Prybylski, Global Financial Services Risk Management Practice Leader and Americas Financial Services Advisory Leader. "Being recognized by Operational Risk & Regulation as a top financial services consulting organization demonstrates Ernst & Young's commitment to stay ahead of the changes the industry faces and address the evolving needs of our clients."

Changes within the regulatory landscape will continue to alter the operating environment for financial services institutions.  Most recently, demand for risk management and regulatory advisory services has been particularly strong as organizations begin to transform the way they manage their business.

Prybylski added, "As our clients come out of the financial crisis and look at how they will improve business processes — and, ultimately, gain a competitive advantage — we will work with them on defining and implementing business strategies that are consistent with the emerging regulatory landscape."

To view the full Operational Risk & Regulations consultancy rankings, please visit www.ey.com/us/financialservices.

Ernst & Young is a leader in serving the global financial services marketplace

Nearly 35,000 Ernst & Young financial services professionals around the world provide integrated assurance, tax, transaction and advisory services to our asset management, banking, capital markets and insurance clients.

Ernst & Young professionals in our financial services practices worldwide align with key global industry groups, including Ernst & Young's Global Asset Management Center, Global Banking & Capital Markets Center, Global Insurance Center and Global Private Equity Center, which act as hubs for sharing industry-focused knowledge on current and emerging trends and regulations in order to help our clients address key issues. Our practitioners span many disciplines and provide a well-rounded understanding of business issues and challenges, as well as integrated services to our clients.

With a global presence and industry-focused advice, Ernst & Young's financial services professionals provide high-quality assurance, tax, transaction and advisory services, including operations, process improvement, risk and technology, to financial services companies worldwide.

It's how Ernst & Young makes a difference.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.  For more information about our organization, please visit www.ey.com.

This press release has been issued by Ernst & Young LLP, a client-serving member firm of Ernst & Young Global Limited located in the U.S.

SOURCE Ernst & Young LLP

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