EY has purchased Port Jackson Partners, a Sydney based boutique management consulting firm.
Founded in 1991 by ex-McKinsey Directors Terrey Arcus and Fred Hilmer, PJP works with CEOs, boards and executives in Australia and overseas to set corporate direction, define business strategies and develop organisations.
EY-Parthenon already has around 15% market share in Australia, but MBB remain the top players.
The acquisition is likely to be a smart move for EY, helping them to compete on a more equal footing with McKinsey, Bain and BCG in Australia’s top-tier strategy consulting market.