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Ernst & Young
Ernst & Young operates as a $51.2B global professional services partnership with a distinct Israeli member firm based in Tel Aviv.
Ernst & Young
The EY organization traces its roots to separate accounting practices founded in the early 20th century — Arthur Young in the US and A.C. Ernst in the UK — which merged in 1989 to create Ernst & Young. The Israeli practice dates to the territory's pre-state mandate period and now operates as one of the largest professional services firms in the country, advising public companies, technology ventures, and government entities. EY Israel's advisory arm spans corporate finance, transaction diligence, and strategy consulting, with deep penetration into the country's technology ecosystem. The firm has advised on IPOs, M&A, and restructuring for Israeli companies listing on the Tel Aviv Stock Exchange, Nasdaq, and the London Stock Exchange. Sectors of concentration include cybersecurity, enterprise software, and fintech — mirroring Israel's export economy. The tax practice services multinationals navigating Israel's R&D incentive regimes and transfer-pricing requirements. Globally, EY reported 393,000 professionals across member firms in 2024. The organization abandoned its planned split into separate audit and advisory entities in 2023 after partner opposition sank Project Everest, the proposed separation. Current leadership under Janet Truncale, who assumed the Global Chair and CEO role in July 2024, has refocused on integrating technology consulting with assurance and tax services. The EY network's structure is its differentiator — each member firm is a separate legal entity practicing under the EY brand through a Swiss Verein, the same governance model used by its Big Four peers. This architecture limits cross-border liability while enabling global client coverage. The Israeli firm, Kost Forer Gabbay & Kasierer (a member of Ernst & Young Global), exemplifies this structure: a locally owned partnership delivering services under the global brand.
General information
Firm type
Asset Manager
Year founded
1989
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Janet Truncale
Global Chair and CEO
Frequently asked questions
Is the Israeli EY member firm a subsidiary or an independent entity?
Kost Forer Gabbay & Kasierer operates as an independent Israeli partnership and is a member firm of Ernst & Young Global Limited, a UK company limited by guarantee. Under the Swiss Verein structure, each member firm is a separate legal entity responsible for its own liabilities and client engagements. The firm delivers EY-branded services in Israel under a license agreement.
Who is the current global CEO of EY, and when did leadership change?
Janet Truncale became Global Chair and CEO in July 2024, taking over from Carmine Di Sibio. She is the first woman to lead a Big Four firm. Truncale previously served as Regional Managing Partner for EY's Americas Financial Services Organization.
What happened with EY's proposed split into separate audit and consulting firms?
Project Everest, the planned separation of EY's audit and advisory businesses, was abandoned in April 2023 after the US member firm leadership opposed the transaction. The plan would have split the organization into a standalone audit firm and a publicly-traded consulting business. The collapse required a reassessment of global strategy and governance, which continues under Truncale's leadership (per Reuters, April 2023).
Does EY Israel invest its own capital or manage third-party investments?
EY Israel is a professional services partnership and does not operate an investment management business. It does not manage third-party capital or deploy proprietary funds. The firm generates revenue from audit, tax, advisory, and transaction services fees.
How large is EY Israel's professional headcount?
Public headcount for the Israeli member firm is not separately disclosed. The global EY organization reported approximately 393,000 professionals across its network for the fiscal year ending June 2024 (per the firm's official communications).
What sectors does EY Israel's advisory practice concentrate on?
The Tel Aviv practice concentrates on technology sectors that align with Israel's export economy — cybersecurity, enterprise software, fintech, and digital health. The transaction advisory team regularly works on cross-border M&A and capital markets transactions for Israeli companies listing on Nasdaq and other exchanges. The firm also maintains a substantial tax practice supporting multinational R&D operations in Israel.
Who governs the Israeli EY member firm?
Kost Forer Gabbay & Kasierer is governed by its own partnership board and managing partner, reporting through the EY Global network rather than to a parent entity. Individual partner names and governance structures for the Israeli firm are not routinely published beyond Israeli regulatory filings.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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