Annual and Sustainability Report 2016 - EY - …

1 EY Switzerland Annual and Sustainability Report2016 Building a better working world togetherBuilding a betterworking world When business works better, the world works better. This is the simple idea behind our purpose of building a better working world for our clients, our people and our communities. It underpins everything we do at EY Switzerland and globally. We believe that every advisory opportunity, every interaction with a client or col league should make the world work better. And we know that we can only achieve this by joining forces with people inside and outside our organization, from across business and help our clients thrive in today s challenging environment and en hance public trust in capital markets the world over. EY Switzerland gives young people the opportunity to gain valuable professional experience and supports communities through entrepreneurship, volunteering and championing diversity and inclusive ness.

2 We believe that this approach facilitates and promotes innovative solutions across all areas of our pro fessional and personal lives. Building a betterworkingworldtogetherAarau 28B a s e l 176 Berne 240 Geneva 409 Lausanne 101 Lucerne 20 Lugano 49St. Gallen 53 Vaduz 9 Zug 53 Zurich 1,489FY13 2,085F Y14 2,240FY152,425FY162,627 EmployeesRevenue FY13 FY14 FY15 FY16 56 FY15 FY16 Audit and Assurance Services + Services + and Legal Services + Services Clients+ %FY16: 262 Total revenue in CHFmBreakdown by division in CHFmFemale: 19 FY15: 12 Male: 123 FY15: 117 Number of employeesAverage ageOffices with number of employeesNumber of partners by genderVolunteer hoursBreakdown by service lines in CHFmCorporate Clients+7.

3 3 %FY16: 3992,722EY Switzerland at a glance FY15: 236FY15: 372 ZurichZugLucerneVaduzLausanneBerneAarauB aselheadquartersSt. GallenGenevaLugano4EY SwitzerlandThe former CEO and new Chairman of the Board Bruno Chiomento meets the new CEO Marcel Stalder to discuss EY s role in today s economy. 20 The future of workDr. Jo l Luc Cachelin and Christine Vogel deliver fascinating insights into the radical changes in how people work. 12 DigitalizationProfessor Thomas Hen gartner and Michel Stofer explore how the digital revolution has changed the way we work and interact with others. Digitalization is 80% opportunity and 20% risk. Michel Stofer EY Partner2 ContentsAbout EYMarketplacePeople8 Responsibility Businesses today are expected to do more than make a profit. Our com mitment to corporate responsibility delivers on this idea and fosters sustainable have set ourselves ambitious goals.

4 The insights, services and teams we provide are geared toward achieving EYThe Board of Directors and Management Committee of EY Switzerland have undergone significant we do is guided and influenced by professional values such as independence, transparency and Switzerland has further strength ened its industry focus to provide businesses with customized solutions in a digital aim to respond to the industry specific needs of our client base, which reflects the variety of the Swiss economy as a created over 200 jobs and welcomed almost 800 new employ ees in FY16 to an EY experience that lasts a lifetime. 27 DiversityDiversity is key to building a success ful future EY Switzerland is mak ing good progress in increasing the percentage of female futureproof work environments and programs meet the needs of our present and future employees, enabling flexibility and to extracts from the interviews in our podcasts, watch videos and explore additional content on our dedicated website, which is also available in German and French: message from the Chairman of the Board For this year s Report , I sat down with Marcel Stalder, my successor as CEO of EY Switzerland.

5 We discussed how we as a firm live up to our purpose of building a better working world against the backdrop of an increasingly uncertain and complex environment. We had an open discussion about our organization and today s economic environment, touching on a host of topics more than we could possibly hope to fit into this Report , now read the full Report , it again occurred to me just how vital it is to join forces and interact with other people inside and outside EY. It opens our minds to new and different ideas and enables us to devise innovative solutions. Some of these can disrupt the market and fundamentally change the way the world works. Just think about how digital technologies are radically changing the way we communicate, work and do world of work is becoming more and more complex and networked, which calls for more creativity and flexibility. As you will see when you read through this Report , EY Switzerland is on the ball when it comes to fostering this creativity and flexibility in our people, our clients and our business associates.

6 The more diverse and inclusive our work environment, the more enriching the this Report , we ve brought together three of our part ners with innovative thinkers from the world of academia to discuss the impact of digitalization, entrepreneurs and evolving work trends on today s world. This is representa tive of how we as a firm aim to work and continue to thrive. We know that we can only succeed by working together with our employees, our clients and our stakeholders from all areas of business and society. I hope you will find the discus sions in this Report as fascinating as I reading!30 EntrepreneurshipProfessor Dietmar Grichnik and Heinrich Christen came together to discuss creative destruction and freedom loving entrepreneurs. If we don t offer enough freedom, we miss out on the creative people. Heinrich Christen EY Partner36 ReportingEY asked stakeholders which topics are important to them and defined the materiality, content and bounda ries of this of the information relating to Global Reporting Initiative s G4 Guidelines and where in the Report it can be encourage our employees to invest time and effort in a wide range of good is committed to making its operations more sustainable by further reducing the amount of resources and materials we ChiomentoChairman of the BoardEY SwitzerlandAbout this report4 The current and former CEOs of EY Switzerland in deep discussion.

7 As photographed through the art installation in the EY office building in EY Companies and universities must be able to continue to recruit the most qualified people in the country and abroad if they are to deliver a first-class service. Bruno Chiomento, Chairman of the Board of Directors EY Switzerland Marcel Stalder (left)has been CEO of EY Switzerland since 1 July 2016 . As Managing Partner Accounts & Industries, he is also a member of the EY Germany, Switzerland and Austria regional leadership team and a member of the EY EMEIA Financial Services regional leadership team. He began his career with a banking apprenticeship, studied busi ness management and qualified as a Certified Public Accountant in the US. He is still in regular contact with clients and an active Advisory Partner in the European marketplace.

8 Bruno Chiomento (right)has been Chairman of the Board of Directors of EY Switzerland since 1 July 2016 . Qualified in business management and economics, he was CEO for eight years before taking up the post. He qualified as a Certi fied Public Accountant in New York, and alongside his management role was responsible for major auditing and advisory mandates for various large current and former CEOs of EY Switzerland in deep discussion, as photographed through the art installation in the EY office building in EYEY Switzerland Politicians need to be careful not to overdo it Historically low interest rates, increasing regulation and digital transformation pose enormous challenges for companies. How can they survive amid this new reality? Our leadership discusses the situation facing the Swiss economy, smartphone autonomy and the desire to help build a better working Stalder, the new CEO of EY Switzerland, and Bruno Chiomento, his predecessor and current Chairman of the Board of Directors, met to engage in a discussion about business, politics and key topics of the world of needs to become more attractive again to start ups from the digital world.

9 That s why EY was a co founder of the digitalswitzerland ini tiative. I m convinced we can make up for lost time if we join has increased con siderably since the financial crisis. Is there an end in sight?MS: It s not only the banks and insurance companies that are heavily regulated so too are the life sciences and energy sectors. A period of deregu lation along the lines of the one seen in the 1980s is not on the horizon. Regulation is not a bad thing in itself: it creates secu rity, and has a counterbalancing effect. However, it shouldn t be allowed to jeopardize the econ omy or our competitiveness. Politicians need to be careful not to overdo : Politicians always respond to a crisis with a wave of new regulation aimed at putting the supposedly guilty parties in their place. But governments soon find that too many new laws stifle business activity, which can no longer be stimu lated by means of low interest rates alone.

10 A tentative dereg ulation of labor markets has begun in some southern Euro pean countries. That makes sense and creates incentives for this backdrop, how did EY invest in the last financial year?BC: We grew strongly across all business areas, and so did the number of people we employ. We invest most of our money in people, by creating jobs and training our : We re on a strong growth trajectory: that s why we cre ated over 200 new jobs last year. We promote young peo ple with social respon sibility, people who want to achieve and who are critical : EY grew by 9% in the last financial year, three percent age points more than in the pre vious year. Audit also made further gains. Advisory ser vices were in particularly strong demand, above all in the finan cial sector: turnover in the European countries; this will do nothing to help the economy or : The Swiss economy is slowly recovering from the Swiss franc shock and is certain to grow significantly this year.