Tameka Gordon, Business Reporter
Ernst & Young (EY) Jamaica has taken on two former partners of Deloitte & Touche Jamaica, in what the firm describes as a merger.
Winston Robinson has joined EY Jamaica's accounting practice and Anura 'Jay' Jayatillake its transaction advisory arm, "together with most of their staff".
"We are very excited about the merger," country managing partner of EY Jamaica, Allison Peart, told Wednesday Business last Saturday.
"It is a working relationship and the takeover was quite amiable," Peart said, adding that the former managing partner for Deloitte Jamaica, Audley Gordon, had approached the firm to combine the businesses.
"Audley decided which members he would keep and who would join EY, and we decided who we would vet and take," Peart said, but the staff was still given an opportunity to choose, she adds.
Deloitte's clients, she said, "would not be left out in the cold" and would still be served, whether by the new EY team members or the remaining partners at the independent correspondent firm, Calvert, Gordon and Associates (CGA) created after the reorganisation of Deloitte in the Caribbean.
Deloitte Jamaica ended its more-than-50-year relationship with Deloitte Touche Tohmatsu Limited and began operating under the name CGA on September 1.
Before the split, Deloitte Jamaica's named partners were Gordon, Fagan Calvert, Robinson, Jayatillake and Gihan de Mel.
Peart said the partnership with Robinson and Jayatillake would "further strengthen EY's position as a market leader in assurance, transaction advisory services and tax consulting across the region".
Additionally, "we don't just see our clients as just Jamaican", the managing partner said of the regionally integrated firm. EY will be further aided in its ability to offer "a full suite" of services to its local and regional clients, Peart told Wednesday Business.
EY Jamaica, which is integrated with EY Caribbean, is currently one of the largest fully integrated professional services firms in the region and is a member of the Ernst & Young network, one of the world's 'Big Four' accounting firms headquartered in London, as the firm describes itself.
Peart said the new additions will further add a "depth of strength" to EY Jamaica as "the experienced partners will bring a different perspective that EY loves and fully appreciates".
Robinson's "very technically strong audit background" was said to be a key factor in his retention. Similarly, "Jay is known in the market for his strength in the area of transaction service advice", and a fine compliment to EY Jamaica's operation, Peart said.
While Peart says she does not envision a fall-off in clients for the new firm, CGA, EY said in a press release on Monday that some of Deloitte Jamaica's large corporate clients have indicated that they will shift business to EY Jamaica.
Deloitte Jamaica client, Supreme Ventures Limited (SVL), a listed company owned 49.9 per cent by a foreign firm, has said it is likely to transfer its business to another international firm.
KPMG has already replaced Deloitte as SVL's game draw auditor.
The EY network encompasses member firms which are separate legal entities in individual countries, boasting 167,000 employees and more than 700 offices in more than 140 markets.
EY Caribbean has offices in Jamaica, Barbados, St Lucia, Trinidad & Tobago, Curaçao and Aruba, while EY is also present in Europe, the Middle East, India, Africa, Asia, the Pacific and the Americas.