views
What is City Talk? Info Info. Latest

Global professional services firm EY grows its UK footprint with Edinburgh expansion

 
Steve Vance
EY is expanding by taking 32,000 sqft. in the prestigious Atria development in Edinburgh. (Source: Invest Edinburgh)

Professional services firm EY is expanding its presence in Edinburgh by taking 32,000 sqft. in the prestigious Atria development.

EY is the largest professional services firm in Scotland, employing 1,000 people across four offices in Aberdeen, Edinburgh, Glasgow and Inverness. In total, there are 34 partners in Scotland, 15 of them working in the financial services industry.

Sue Dawe, head of financial services in Scotland, EY:

Across the business landscape, the rapid pace of technological change is a key priority. This is particularly relevant in Edinburgh, which is home to an internationally renowned tech sector and leading universities.

“We are in a strong position to respond to and embrace the challenges and opportunities currently facing business, including regulatory recalibration, disruptive innovation such as fintech and the new business considerations brought about by the EU referendum result – as well as the possibility of a second referendum on Scottish independence.” says Dawe.

“UK fee income grew 7% to more than £2bn for the year ending 1 July 2016, taking our compound annual growth rate over the last five years to 8%.”

Capital expansion

By the end of 2017, EY will move their Edinburgh base to a bigger, state-of-the-art office in the heart of the Scottish capital’s financial district.

Their new office, on the third floor of the Atria One building, will be 26% larger than their existing location on George Street. They have agreed a lease for 32,000 sqft. in Atria One, where up to 620 employees can be accommodated on one floor, contrasting with their current base, where they have 25,500 sqft. and 450 employees split across three levels.

This expansion and upgrade in real estate is driven by the success of their business across all service lines and sectors. The growth includes EY’s financial services practise in Scotland, which has gone from strength to strength in recent years.

“This office move puts us in poll position to continue that momentum.” continues Dawe.

Economic confidence

According to Dawe, this is an exciting time for EY in Scotland. Their expansion in Edinburgh highlights their confidence in the Scottish economy and is testimony to the strength and commitment of EY to the country.

“Across the business landscape, the rapid pace of technological change is a key priority. This is particularly relevant in Edinburgh, which is home to an internationally renowned tech sector and leading universities.”

“At EY, we constantly review the skills and experience required to deliver the best service to our clients. We’ll look for skills that help us to meet client needs in an environment which is rapidly changing, particularly due to disruptive technologies.” states Dawe.

“As well as employing talented people, we’re committed to providing a great working environment. The new office is part of EY’s global “EY@Work” transformation, which provides modern office space supported by the latest technology, design and environmental standards.”

“The office in Atria One will be designed around how people work, not where they sit, and provides a variety of flexible spaces designed for activity-based working. Employees will be able to choose which space to use based on the task they are doing that day, from desk based working to collaborative ‘zones’ to share ideas.”

Fintech focus

In Edinburgh and across Scotland, the ambition for EY is to continue to grow their business across all service lines and sectors through successful client relationships. EY have operated in Scotland for a long time and have built up an extensive client base of leading businesses from SMEs to PLCs.

“Fintech is a core area of focus for the financial services sector – especially in Scotland, where we have the potential to be a world leader in this space. The Scottish financial services industry has a real opportunity to work with world-class universities to attract and retain the best talent to build the legacy of our industry.” adds Dawe.

Related articles