Hywel Ball, head of Ernst & Young’s (EY) UK business, has told partners at the firm that he will step down as chair, kickstarting a race for one of the most prestigious jobs in British professional services.
In an email to partners on Wednesday morning, 61-year-old Ball said the time had come to “hand on the baton” to someone else.
He has led the Big Four firm since 2020 and has worked there his entire professional life, since 1983.
Ball was a strong proponent of a radical plan by EY’s global bosses last year to split up its audit business and consulting arm, codenamed Project Everest.
The plan, which came after calls for industry reform over conflicts of interest and poor working practices, would have marked arguably the biggest-shake up in the accountancy sector in the last two decades.
However, the plan, which EY spent some $600m (£470m) preparing, collapsed last April after infighting at the firm.
EY confirmed on Wednesday that it would begin the selection process in the second half of this year for a successor to lead the 21,000-strong UK business, which is the second largest in EY’s network behind the US.
In his email, Ball said he would agree a transition plan with his successor but did not expect a lengthy handover period.
An EY spokesperson commented: “As part of the planned leadership transition for Hywel Ball, we can confirm our internal selection process will begin in the second half of 2024.
“In line with the FRC Audit Firm Governance Code, the role of UK Chair and Managing Partner will be separated going forward.”
Carmine Di Sibio, who masterminded Project Everest, is due to step down as EY’s global chief executive at the end of June, to be succeeded by Janet Truncale.
The Financial Times first reported news of Ball stepping down.