EY, a global leader in Assurance, Tax, Transaction and Consulting services, announced its newest Global Delivery Services (GDS) center in Budapest, Hungary.
EY GDS (CS) Hungary Kft. provides innovative and strategic business solutions to EY member firms around the world. The organization intends to scale up to 500 professionals over three years with a focus on tax, accounting and technology related skills.
“Today we can announce another economic success, which is a confirmation of the government’s economic strategy and crisis management. It is a huge recognition for Hungary and Hungarian economic policy that one of the world's largest audit and business advisory companies is establishing its newest global service center in Hungary. It is a special pleasure for us to be able to work together in the company’s training program as well. For the implementation of this HUF 770 million investment program, the Hungarian government will provide HUF 380 million in investment support,” said Péter Szijjártó, Minister of Foreign Affairs and Trade. He added: “such investments also help us to keep Hungarian young people at home. In Hungary, the service center sector is becoming more and more advanced, currently employing 156,000 mostly young people, 80% of whom have high education, an average age of 30, and 15% of whom are foreign nationals. Such service centers have also opened in our rural cities, employing 14,000 young people. ”
"We are very excited to be expanding our presence in Hungary. The combination of the highly skilled talent, the availability of multi-language capabilities, the stable economic environment and the gracious support from the government makes Hungary an attractive market with an excellent platform for further growth. While our initial focus is on Tax related services, in due course we expect to build capability to support all EY service lines and business disciplines including audit, consulting, strategy, transactions and operation functions," said Srini Rao, Global Vice-Chair, EY GDS.
"As of today, EY can help any company in the world from Budapest, regardless of whether it has ties to Hungary," – stressed Botond Rencz, EY Hungary Country Managing Partner, CSE Central Cluster and Hungary Tax Leader. "It remains a strategic priority for us to provide organizations with the best experst and the highest level of services in Budapest, Debrecen and Pécs, or anywhere in the country, even internationally. We are the only firm with offices in three different cities in the domestic advisory market, so that we can be available when and where we are most needed, ensuring maximum efficiency for our clients," Mr. Rencz added.
As part of a market-leading GDS Tax team, the EY GDS Hungary teams will work closely with EY colleagues across borders, using EY tools and networks to solve complex business and tax problems for global clients outside of Hungary.
To achieve this ambitious growth, EY GDS is looking to increase its workforce with accounting, tax and technology skills, given the strong demand for digital transformation and innovation-led services from clients worldwide. As an employer of choice, the organization also seeks strong cooperation with local universities to provide the valuable market knowledge and access to quality talent. Known for its purpose of building a better working world, EY offers a diverse and inclusive culture where people are empowered to be intentional about their careers, to embrace continuous learning and to seek out the experiences and skills that will help them bring out the best in themselves and others.
About EY GDS
EY Global Delivery Services (GDS) is a dynamic and truly global network of service delivery centers. EY GDS teams combine deep technical knowledge with a focus on innovation, technology and process improvement to create scalable services to support all EY member firms, service lines and functions across all geographies and sectors. EY GDS plays a vital role in the delivery of the EY growth strategy.
Over two decades, EY GDS has evolved from simply providing delivery support to becoming a world-class, value-adding collaborator to help EY clients grow, manage and transform their businesses. Supported by over 60,000 professionals based in seventeen cities across six countries, including Argentina, China, India, the Philippines, Poland, and the United Kingdom, EY GDS continues to increase its presence in key markets in Europe. The new center in Budapest will be the fifth city for EY GDS in Europe and will initially share space in EY Hungary's headquarters.
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About EY Global Delivery Services (GDS)
EY Global Delivery Services (GDS) is one of EY's greatest global assets. It is an ever-growing, integrated service delivery center network that provides innovative, scalable and customized business services to EY member firms. This network is a vital element of EY's leading–class service capabilities that bring together an industrialized combination of high-quality skilled professionals, automation, and cutting-edge technologies. Present in six countries (Argentina, China, Poland, the Philippines, India, and the United Kingdom) and 17 cities, EY GDS works with EY member firms across the globe to build a better working world by helping EY and its clients be agile nimble, and efficient.
About EY
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 organization 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 is 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.
