- ifb SE acquisition will enhance EY finance and risk digital transformation services, enabling EY teams to provide a wider range of solutions for the financial services industry.
EY has announced today the acquisition of ifb SE (“ifb”), an international finance and risk transformation and compliance consultancy, headquartered in Grünwald, Germany. From today, it will be branded EY ifb. This acquisition will enhance the breadth and depth of EY finance and risk transformation and compliance capabilities, creating greater opportunities for EY to support its clients.
For more than 30 years, ifb has been providing high-end technology enabled transformation services in accounting, controlling, regulation, risk management and compliance.
More than 400 ifb employees – including partners – in Germany, Switzerland, Austria, Poland, Netherlands, Luxemburg, US, Canada and Colombia will join EY, enhancing already strong capabilities in financial and risk management.
This acquisition will enhance EY technology-enabled capabilities in key areas, including: business and technology consulting in finance and risk transformation topics, technology solutions delivery, and managed services.
ifb, a global SAP Partner for more than 25 years, will also bring broad experience and know-how in financial services SAP domain and architecture, which will enable EY teams to provide stronger transformation services, particularly in SAP transformation projects.
Omar Ali – EY EMEIA Financial Services Regional Managing Partner comments: “The expectations for financial services firms to transform their businesses has never been higher. Clients are looking for EY teams to provide transformation services with the support of EY Alliance partners like SAP. The EY and ifb organizations have built a relationship over the years doing just that, and now we are delighted to be welcoming Christian Moser and Claus Stegmann and the ifb teams to EY, so that we can continue to do this for more clients around the globe. They will join growing teams - our European Financial Services technology consulting businesses grew by circa 40% in the past year and I have no doubt they will help EY teams to continue providing the services our clients need.”
Alex Birkin – EY EMEIA Financial Services Consulting Leader comments: “This acquisition will enhance EY consulting services, enabling EY teams to deliver complex, large-scale finance and risk digital transformation projects for the financial services industry. EY and ifb organizations have a proven business relationship, providing transformative technology-enabled financial and risk management and compliance services to many EY financial services clients. This acquisition is part of the wider EY Financial Services Consulting growth strategy in Europe and across the globe. I look forward to the many opportunities it will create for EY clients and teams.”
Claus Stegmann – ifb group Managing Director comments: “This acquisition will provide ifb clients with easier access to the full range of services they require to undertake large, complex financial and risk transformation projects – from developing a holistic architecture to enabling more efficient regulatory compliance – with professionals operating under a single brand around the world.”
Christian Moser – ifb group Managing Director comments: “ifb brings a unique technology capability, which aligns closely with EY business consulting teams’ experience, skills and knowledge. The combination of ifb services in technology and business consulting, and EY broader consulting services, will provide an even more powerful value chain to support clients in the finance transformation space.”
Falk Rieker – SAP Head of Banking – and Toni Tomic – SAP Head of Insurance both comment: “We are glad to see that ifb is becoming part of the EY family. EY and ifb have both been strategic, long-term partners of SAP for many years. We strongly believe that the synergies of ifb and EY will lead to major advantages for SAP customers. EY and ifb already bring industry cloud innovation, best practices, methodologies and leading consulting experience to the table. SAP is very much looking forward to continuing our innovation roadmap with EY and accelerating our growth in the industry cloud for Financial Services.”
For more information, visit ey.com/ifb.
ENDS
About EY
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients. EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organisation, and may refer to one or more, of the 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. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
