What is the story about?
What's Happening?
EY has appointed John Owen as a UK consulting partner to expand its financial services risk practice. Owen brings extensive experience from his two-decade career in the UK government, including roles in the Ministry of Justice, Cabinet Office, and HM Treasury. His expertise in managing complex risks and advising on major events like Brexit and the Covid-19 pandemic will be instrumental in strengthening EY's offerings. The appointment comes as the UK consulting market faces challenges from reduced public spending on external advisors and the rise of AI-driven in-house consulting solutions.
Why It's Important?
Owen's appointment is a strategic move by EY to bolster its capabilities in financial services risk management, a critical area as the sector navigates evolving regulatory landscapes and geopolitical tensions. His government experience provides valuable insights into regulatory changes and risk management, enhancing EY's ability to support clients in a volatile market. This move underscores the importance of adapting to industry shifts and maintaining a competitive edge through expertise and innovation.
What's Next?
As Owen settles into his role, EY is likely to focus on leveraging his expertise to develop new risk management strategies and solutions for its clients. The firm may also explore opportunities to expand its consulting services in response to changing market demands and regulatory requirements.
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