EY Luxembourg: Completing Vision 2020, launching NextWave
Ambition 2026 and transition to new leadership team on 1 July 2020
From Vision 2020, a ten year success story, to…
EY Luxembourg announced today the upcoming completion of its current strategy cycle and the launch of a new multi-year strategy.
“Next year will be very special as, with the end of our financial year on 30 June 2020, we will be completing our long term strategic plan, Vision 2020. During this 10-year strategic cycle we deeply transformed EY Luxembourg, growing it from Eur 100 million and 700 employees to a projected Eur 260 million revenues practice with over 1.500 professionals. Key milestones include becoming the second largest audit practice in Luxembourg, with a growth of 125%, building the market leader in Private Equity and Real Estate, doubling the size of our tax practice, tripling the revenues of our advisory practice, building an M&A/transaction advisory business, but also inaugurating an iconic new building at Kirchberg, to name a few.” says Alain Kinsch, Country Managing Partner at EY Luxembourg.
… NextWave – Ambition 2026, our future multi-year strategy
“The Luxembourg Ambition 2026 aims to execute our new EY Global strategy: Next Wave which has recently been launched by our new Global Chairman Carmine DiSibio with the goal to create long term value as the World’s most trusted, distinctive professional services firm. It was thus also from an EY network perspective the perfect moment to launch our local new multi-year local strategic plan”, says Jean-Michel Pacaud, President of the Board of Directors of EY Luxembourg.
Since January 2019, Alain Kinsch led an in-depth strategy definition process involving all the EY Luxembourg partners to design in the context of the EY NextWave strategy, the EY Luxembourg Ambition 2026, and design its implementation through a six year plan. The EY Luxembourg Ambition 2026 sets out 10 clear ambitions including market growth, people career journeys, client centricity, high performing and united partnership, relationships, purpose & brand and risk management.
As the current EY Luxembourg leadership team is preparing to retire, a new leadership team and managing partner will get the mandate to execute Ambition 2026 starting 1 July 2020
Planning for the upcoming retirement of most members of the current leadership team, Alain Kinsch conducted soundings in 2019 with all the Luxembourg partners to build a consensus on the size, roles and composition of the new leadership team. “As we are taking a next step in our strategy, we give the mandate to a new leadership team to deliver the Ambition 2026. We are very pleased and confident in the new generation of younger partners that we brought up over the past years”, explains Alain Kinsch.
“The entire Partnership was keen for Alain Kinsch to continue as Country Managing Partner (CMP)”, says Jean-Michel Pacaud. “I am grateful and honored that my partners supported me to take on the lead of the new leadership team and drive the execution of Ambition 2026 period. In August 2020 it will be exactly 11 years since I took over the role of CMP of EY Luxembourg. I literally love the ‘job’, working with my partners, clients and people and could not see the time fly by. However, in 18 months I will turn 50 and so I thought a lot about what is best for EY in Luxembourg and about what I would like to do in the years ahead. I came to the conclusion that now is the right time to not only have a new leadership team but also a new managing partner taking over the helm of EY Luxembourg in July 2020 and get the mandate to execute Ambition 2026”, announces Alain Kinsch.
Over the next few weeks a sounding process will lead to designate the incoming CMP. The members of the new Country Leadership Committee (CLC) and the new CMP will be announced at our annual All-Staff Townhall meeting on 13 December 2019.
Alain Kinsch will stay in charge together with the current leadership team until 30 June 2020 after which the new team will take over. Alain will continue to support the transition until the end of 2020.
“Et ass mir net baang as we say in Luxembourgish, when I look at the great pool of talented young partners: we have a great new generation of leaders that is ready to pursue the work and bring EY to the next level. While I will leave EY at the end of 2020, I will stay a proud EY Luxembourg Alumni and will stay close to my partners who will of course always be able to count on my support”, concludes Alain Kinsch.
 Turnover budget for the financial year ending on 30 June 2020.