BGC Partners, Inc., a leading global full-service inter-dealer broker of financial instruments, announced today that the Audit Committee of its Board of Directors has appointed Ernst & Young LLP as the company's independent auditors. Ernst & Young will replace Deloitte & Touche LLP as the independent auditors for the Company upon the completion by Deloitte & Touche of its review report on the financial statements of BGC Partners for the quarter ended June 30, 2008.

The appointment of Ernst & Young was made after careful consideration by its Audit Committee and by the management of BGC Partners, and concludes an extensive evaluation process. The decision to change auditors was not the result of any disagreement between the Company and Deloitte & Touche on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

“We appreciate the service Deloitte & Touche has provided.” said Albert M. Weis, who is a member of BGC Partners’ Board of Directors and also Chairman of the Audit Committee. “We look forward to our new relationship with Ernst & Young.”

About BGC Partners, Inc.

BGC Partners, Inc. is a leading global inter-dealer broker, specializing in the brokering of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to many of the world’s largest and most creditworthy banks, broker-dealers, investment banks, and investment firms for a broad range of global financial products, including fixed income securities, interest rate swaps, foreign exchange, equity derivatives, credit derivatives, futures, commodities, structured products, and other instruments.

Through its eSpeed and BGCantor Market Data brands, BGC Partners also offers financial technology solutions and market data and analytics related to select financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing (representative office), Chicago, Copenhagen, Hong Kong, Istanbul, Johannesburg, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto.

Ernst & Young announces that as from today practices within its Europe, Middle East, India and Africa (EMEIA) and Far East Areas will each become operational under the management of their respective Area Executive.

Mark Otty, as Area Managing Partner of EMEIA, will lead an organization with over 60,000 people in 87* countries and a projected turnover in excess of US$11 billion.

David Sun and Jim Hassett, as Area Co-Managing Partners of the Far East, will lead a US$1.2 billion organization with more than 20,000 people.

Mark Otty commented: “Our clients tell us these globalization moves are important because they enable us to better meet their needs to deliver seamless, consistent, high-quality service, not just across EMEIA but right across the rest of the world.”

David Sun added: “These are also positive steps for our own people as they want to be in an organization where the opportunities for mobility, career development and international experience are without boundaries.”

Jim Turley, Chairman and CEO concluded: “The integration of our practices within our EMEIA and Far East Areas, together with that of our Americas practices in 2006, differentiates us in the marketplace as the most globally integrated professional services firm.”

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 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 potential.

For more information, please visit www.ey.com.

As Generation Y makes its debut on the corporate stage, Canadian companies need to ensure lesbian, gay, bisexual and transgender (LGBT)-inclusive efforts evolve with changing workforce demographics to include all groups, Ernst & Young says.

"LGBT people can face real challenges that leave them feeling isolated or disconnected in the workplace," explains Bruce Goudy, Ernst & Young partner and Canadian leader of the firm's Beyond network. "We must constantly evaluate our programs to ensure they continue to meet the needs of our employees-including the newest and youngest members of the workforce, many of whom have had a more accepting campus experience than prior generations and are looking for the same from a prospective employer. A baby boomer may have very different needs compared to someone from Generation X or Generation Y. Our initiatives are intended to address those generational differences."

With that in mind, Ernst & Young is talking to Generation Y employees in Vancouver, Calgary, Toronto and Montreal. We're using one-to-one discussion and feedback to learn more about the specific LGBT-related hurdles Generation Y faces in the workplace, and how programs can be aligned with their priorities and needs. Open and honest discussion is the first important step.

"We've worked hard to make Ernst & Young a place where everyone can feel comfortable, be themselves and achieve their goals. But the challenges this generation faces might be different from what their parents and grandparents encountered - and we want to tailor our efforts to help navigate those issues," Goudy says.

Ernst & Young is recognized as a global leader for its pioneering efforts to create inclusive workplaces. The Beyond network is one example. Beyond is a network for LGBT people, and their allies.

   

Ernst & Young LLP moved into the number one spot on Universum USA's 2008 survey of IDEAL employers for undergraduate business students and jumped eight positions to number four among all undergraduate students. The survey, the largest of its kind in the U.S., included responses of more than 40,000 college students.

Ernst & Young rose up the undergraduate business student ranks this year from number three in 2007 to number one in 2008, surpassing Google and PricewaterhouseCoopers. The firm also ranked number one this year in a survey of students majoring in accounting and ranked the highest of all accounting firms on a separate Universum undergraduate survey focused on diversity.

"The Universum surveys are particularly important to Ernst & Young because they represent the views of such a large number of undergraduate students. We are proud that Ernst & Young is ranked number one among undergraduate business students and, more importantly, that we are communicating our culture and values in a way that is resonating," noted Nancy Altobello, Ernst & Young's Americas Vice Chair, People. "This recognition underscores the importance of giving students a full and realistic view of why our firm is a great place to work."

Ernst & Young will hire more than 5,500 students as interns or full-time hires this year. The firm has been recognized for its world-class internship program, innovative campus events, and ground-breaking recruitment strategies including a highly-trafficked group page on Facebook. This past year, the firm also launched Reel Influence, a campus video competition, and EY Insight, an interactive web tool available at www.ey.com/us/eyinsight.

Ernst & Young is one of FORTUNE's "100 Best Companies to Work For" and one of Businessweek's "Best Places to Launch a Career."

"Ernst & Young is the perfect example of how consistent and targeted efforts pay off when trying to attract this complex new generation," said Claudia Tattanelli, CEO of Universum USA. "Ernst & Young has been able to understand students' attitudes and values and find new high-tech high-touch ways to communicate with them effectively. The new campaign has resonated in their hearts and in their minds, and so has EY's presence on social networking sites, which has been successful without being invasive. Students are now rewarding EY for its efforts, for understanding them and for providing them with the tools they need to succeed."

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 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 potential.

For more information, please visit www.ey.com.

Nearly one in five undergraduate students chose Google (17.1 percent) as their IDEAL (TM) Employer, the popularity of the leading search engine grew as only 13 percent of undergraduate students chose it as IDEAL (TM) in 2007.

Walt Disney (13 percent) comes in again at a close second followed by Apple Computer (10 percent), and Ernst & Young which jumped eight positions since 2007 to be No. 4, edging out the U.S. Department of State (9 percent).

Goldman Sachs, Deloitte, Peace Corps, NASA, and PricewaterhouseCoopers completed the top 10 list. This year, 43,313 students from 195 colleges and universities participated in the Undergraduate Edition of the Universum IDEAL(TM) Employer Survey, making it the largest survey of its kind in the U.S.

In it, students answered questions about their career expectations such as top industries, career goals, communication preferences, salary expectations, IDEAL(TM) employers and more.

The career goals of undergraduate respondents directly reflect attitudes about work and current economic and social events. An overwhelming 64 percent of students feel that a work-life balance is the most important career goal, job security and stability (45 percent) came second. Third on the list is being dedicated to a cause or to feel they are serving a greater good (44 percent) followed by being competitively or intellectually challenged (39 percent), and to be a leader or manager of people (33 percent).

"These savvy undergrads are thinking much more strategically than ever seen before," says Claudia Tattanelli, CEO of Universum USA. "They have seen massive layoffs first hand and are now looking beyond their top three companies to find more stable career choices that are inline with their career goals. In addition, they want to feel as though a work-life balance is achievable without letting it get in the way of their work. They ultimately want to work smarter not harder."

Working in an organization like the U.S Dept. of State allows undergraduate students to achieve top career goals like giving back to the community and their financial goals which is why government/public service remains the No. 1 industry. Healthcare came in second followed by accounting (public), education/teaching, and marketing/advertising. This year, undergraduate students are expecting, on average, $50,640 one year after graduation, and $96,438 after five years.

Accounting and consulting giant Ernst & Young has new headquarters in the new Zuidas district south of Amsterdam. The tower was completed this week. The construction work was done by Foster + Partners. This is the first tower the firm has built in Amsterdam. 

The Ernst & Young tower now serves as a landmark on the way to the city. It also not only meets Dutch environmental standards, but exceeds them by 10 percent. 

The 24-storey tower has a water court and a fully glazed northern facade that admits the maximum amount of natural light.

"Our first building in Amsterdam not only exceeds Dutch environmental regulations by ten percent, but provides a striking marker for the Vivaldi Park area, a high quality, flexible working environment for tenants Ernst & Young and a lively public water-court with a working ecological pond at its base," said David Nelson, Senior Executive and Head of Design at Foster + Partners.  

 

To browse the latest job opportunities with Ernst & Young, please visit our job board. 

Ernst & Young was voted the number one accounting firm for the London insurance market in the London Market Leaders poll by the readers of Global Broker and Underwriting magazines.

The company got as many as 55 percent of the 1,800 votes to win the top spot. 

"This award is tremendous acknowledgement of Ernst & Young's market leadership in the London insurance market, especially given that other competitor accountancy firms were the rivals in this category," said Jon Bourne, head of audit in financial services. 

A day before, Ernst & Young audit partner Alison Duncan won the award for Outstanding Contribution in the Women in Banking and Finance Awards 2008. 

 

Consulting Magazine has revealed the annual list of the Top 25 Consultants of 2008.

This year's most successful consultants come from 23 companies, have very different backgrounds and current responsibilities in their firms.

 

They are:

• Shumeet Banerji, Booz & Company
• Peter Cheese, Accenture
• Kathryn Hayley, Aon Consulting
  
• Daniel Mahler, A.T. Kearney
• Charles Farkas, Bain & Company
• Antonella Mei-Pochtler, The Boston Consulting Group
• Jacquie Walker, Buck Consultants
• John Sarnese, CSC
• Jocelyn Conningham, Deloitte Consulting
• Michael Fucci, Deloitte Consulting
• Raju Lal, Ernst & Young
• Richard Schroth, Executive Insights
• Stephen Brant, Hitachi Consulting
• David Shade, Huron Consulting Group
• Peter Korsten, IBM
• Raj Joshi, Infosys Consulting
• Hugo Van Nispen, KEMA
• Cari Bunch, Kurt Salmon Associates
• Mark Goodburn, KPMG
• John Merkovsky, March Risk Consulting
• Adrian Slywotsky, Oliver Wyman
• Michael Dunn, Prophet
• Miles Everson, PriceWaterhouseCoopers
• Karen Vander Linde, PriceWaterhouseCoopers
• Alan Wexler, Sapient

 

 

The consultants' brief profiles can be found on the Consulting Magazine website.

Ernst & Young has announced that its partners across Western and Eastern Europe, the Middle East, India and Africa have overwhelmingly approved the proposed integration of its country practices into a single EMEIA Area.

The new Area will be a US$11 billion organization with more than 60,000 people and 3,300 partners. It will operate as a single unit, led by Mark Otty as Area Managing Partner, and a single executive team.

EMEIA will be effective from 1 July 2008.

Chairman and CEO Jim Turley said, “I am of course delighted by the tremendous response from our partners in favor of this significant step change in the globalization of our business. I have also been greatly encouraged by the level of feedback I have received from many of our clients across the globe, our young people and our regulators. The feedback is that this is a groundbreaking and positive step both for our own organization, and the profession as a whole.”

“Our clients tell me this move is important because it is going to enable us to better meet their needs to deliver seamless, consistent high-quality service, not just across EMEIA, but right across the world. Our people want to be in an organization where their opportunities are without boundaries. They want and expect mobility, challenging international assignments and a diverse and teaming culture on a truly global scale,” Turley said.

Mark Otty said, “These are exciting times. This integration is a really significant step for Ernst & Young and for our profession. Our people and our clients are really excited about our plans – our people see the opportunities for them whilst our clients can see how this builds on the level of service we already provide. These will include European companies looking to expand their activities in emerging markets and also, increasingly, new business giants from the Middle East, India, CIS and Africa seeking opportunities in developed markets.”

Chief Operating Officer John Ferraro said, “This is a remarkable achievement given the scale and intensity of the process we embarked upon. We do not take the support of our partners for granted and have engaged in a concentrated, active dialog with them about our future. Partner votes were tabulated by an independent organization, which has confirmed that partners in 86 of the 87 countries have overwhelmingly approved the integration. In the remaining country, Sweden, our partners are facing unique local issues and will vote on the EMEIA proposal in the coming months. With this great support, we now will complete the process and begin operating EMEIA on 1 July.”

Jim Turley concluded, “At the beginning of this year we said to ourselves ‘we should be bold’, and I believe we have been. This announcement today, together with the recent integration of our Far East practices, and that of our Americas practices in 2006, differentiates us in the marketplace as the most globally integrated professional services firm.”

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 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 potential. For more information, please visit www.ey.com.

Dr. Jean-Paul Clozel, founder of Switzerland’s Actelion Pharmaceuticals Ltd., a pioneering biotechnology company, was last night named the Ernst & Young World Entrepreneur Of The Year 2008 at an awards ceremony held in Monte Carlo’s Salle des Etoiles.

Clozel was picked from among entrepreneurs representing more than 40 countries who were vying for the title.

Founded in 1997, Actelion is a leader in the development of small-molecule drugs for the treatment of pulmonary disease, and its products have improved the lives of patients worldwide.

Joe Schoendorf, Partner of venture capital firm Accel Partners and Chairman of the judging panel said: “Jean-Paul took huge risks leaving a big, successful company to found a new one in an incredibly difficult sector – biotechnology. And those risks have paid off, for Jean-Paul and his team, for his investors, and, most importantly, for the tens of thousands of patients Actelion’s drugs help.”

“Being named Ernst & Young World Entrepreneur Of The Year 2008 is a great honor for me and my team,” said Clozel. “To be singled out from such a strong field of entrepreneurs makes us very proud.”

“It’s amazing how quickly Jean-Paul has built Actelion from nothing to a market capitalization of nearly €4 billion in a highly competitive and complex sector,” said Greg Ericksen, Ernst & Young’s Global Vice Chair for Strategic Growth Markets. “His vision and passion have enabled him to become one of the biotechnology industry’s most recognized global success stories.”

“Entrepreneurs achieve great things and make a real difference to their customers, their employees, their communities and the global economy,” said Jim Turley, Global Chairman and CEO of Ernst & Young. “Their vision, leadership, determination and sheer hard work inspire all of my colleagues and me, and that is why we are so proud of the 22-year history of Ernst & Young Entrepreneur Of The Year. Through his leadership of Actelion, Jean-Paul has epitomized the entrepreneurial spirit, improved the lives of thousands, and is very worthy of the title Ernst & Young World Entrepreneur Of The Year 2008.”

About Jean-Paul Clozel and Actelion

Jean-Paul Clozel is a cardiologist educated in France, with further training in pharmacology and physiology at the University of Montreal, Canada, and the University of California, San Francisco. After eleven years as a clinician, he decided to move to applied research. During his 12 years at F. Hoffmann-La Roche, he was responsible for the selection of the first T-channel blocker. He also participated in the characterization of renin inhibitors as well as several endothelin receptor antagonists such as bosentan and clazosentan.

Overall, the group he was heading discovered seven compounds that entered clinical trials. He has developed various, novel experimental models allowing the differentiation of these drugs, work honored with the 1997 Hoffmann-La Roche Research Prize. At the end of 1997, he founded biotechnology company Actelion, together with his wife, Martine, and work colleagues and friends Walter Fischli and Thomas Widmann. First mainly focusing on Research and Development, he became CEO of the company to bring Actelion to the public in April 2000.

During his 25-year career in cardiology, he has published widely in peer-reviewed medical and scientific journals. At the same time, his passion has remained unchanged: being as closely as possible involved in bringing innovative medicine to “his” patients.

Actelion is a leader in the development of synthetic small-molecule drugs and produces the products Tracleer (bosentan), an oral treatment for WHO Class III or IV pulmonary arterial hypertension (PAH), a chronic, life-threatening disorder which severely compromises the function of the lungs and heart, Zavesca (miglustat), a small-molecule oral therapy for the treatment of type 1 Gaucher disease, a genetic lipid storage disorder. Ventavis (iloprost) is an inhaled formulation of iloprost, approved for the treatment of pulmonary arterial hypertension.

About Entrepreneur Of The Year

Ernst & Young Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

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