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E&Y 'merger'- it's a TS mystery
TS is a bit hazy as to whether or not Ernst & Young is actually merging its European firms.
There doesn't seem to be one profit pool, at least. The firm got a bit muddled as to whether there would be one profit pool, talking instead about having a 'common approach to performance evaluation and compensation.'
TS thinks the firms have always had a 'common approach' to compensation: partners get paid a lot, isn't that it? But then it is difficult to have one profit pool.
As one senior figure put it, 'I don't believe we would be able to in the current regulatory climate. ' The sage in question? Mark Otty, the boss of the new 'merged' E&Y firm.
One week TS is hearing about 'visual identity' tweaks which are of course in no way brand changes and now it looks like the profit pooling waters are a bit murky. Come on E&Y, all TS wants is a bit of clarity on the issue- is that too much to ask?
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