As 2016 draws to a close, it is timely to reflect on EY’s announcement of combined global revenues of US$29.6b for its financial year ended 30 June 2016. Overall, financial year (FY) 2016 revenue grew by 9% in local currency. Opportunities emerging from disruptive technologies helped deliver the fifth consecutive year of double-digit growth for EY Law, recording a 20% increase in revenues in FY16.
Adopting a multidisciplinary approach, EY is now established as an integrated legal services provider in a growing number of countries around the world, as member firms continue to attract the highest quality recruits. EY recognizes that the quality of its people underpins the value of work it delivers to the market. Our legal services offering has now grown to around 1,800 practitioners – covering 105 offices in 75 countries.
As innovation continues to transform entire industries, our legal practitioners are working to solve businesses’ most pressing challenges and to help them take advantage of emerging opportunities. This new landscape is driving our focus on innovation to help bring the latest thinking to our clients. At our recent Privacy, Digital and Cyber conference, for example, we explored how technology advancements have fundamentally altered the way organizations use and manage data – and why businesses need to adapt now.
EY has a holistic approach to digital transformation and innovation, which is embedded across all its member firms. Our global innovation team, launched in FY16, is helping to bring leading-edge robotics and artificial intelligence (AI) to businesses. The legal implications of these exciting, yet disruptive advancements will bring both challenges and opportunities as we forge ahead into FY17.
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EY Legal Services Contact:
Cornelius Grossmann – EY Global Law Leader