Big Four accountancy firm EY has embarked on a new wave of expansion by creating a further 71 new equity partners at the firm.
Of these, 30 have been poached from competitors and industry, with the remainder coming from internal promotions.
The additional partners will also help to diversify the employee composition at the auditor, with 15 per cent of those taken on classed as BME – three times the proportion of the last intake.
Steve Varley, EY UK chairman said the new intake marked "a significant milestone" for the firm and congratulated his staff for getting to this stage of their career.
“These appointments are a reflection of both their individual skills, as well as the investments we are making across all our business areas and regions.
“This year I’m particularly pleased to see that we have increased the number of Black and Minority Ethnic (BME) Partners among our new intake and that our efforts to diversify our senior leadership roles are making a difference.”
However, Vareley acknowledged there is "still more to do" after EY did not hit its 30 per cent target for recruiting female partners. Of the latest intake, 22 per cent were female.
Justine Campbell, EY’s new managing partner for Talent in the UK & Ireland, added: “The future of our business, and others, depends on our ability to be innovative in an incredibly fast paced world. To make that happen we must have a workforce that has diversity of thought, perspectives, experiences and skills.
“There is a real desire within EY to effect change on this important issue.”
In addition EY also promoted 63 Associate Partners taking its total promotions from 1 July to 134.
Full story: EY diversifies with new partners: City A.M.