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Break Up Plan

All articles tagged with #break up plan

business2 years ago

EY cancels audit and consulting split plan, focuses on $500mn cost savings.

EY US has abandoned its plan to break up its business and will instead embark on a $500mn cost savings programme, including job cuts and restructuring. The move comes after the firm's partners voted against the break-up plan, which would have seen EY US split into four separate businesses. The cost savings programme will focus on areas such as technology and real estate, and is aimed at improving the firm's financial performance in the face of increased competition in the financial services sector.

via Financial Times|
#break-up-plan#business#cost-savings
business2 years ago

EY abandons plan to split audit and consulting units after internal dissent.

EY has abandoned its plan to break up its business after facing months of internal dissent. The restructuring plan would have split the company into four separate businesses, but was met with resistance from partners who were concerned about the potential impact on clients and the firm's culture. EY will now focus on investing in its existing businesses and expanding its digital capabilities.

via Financial Times|
#break-up-plan#business#ey
finance2 years ago

FDIC explores break-up plan for Silicon Valley Bank after failed sale attempts.

The FDIC is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank on Friday in a separate auction process. The regulator is considering retaining some of the assets that are underwater at the failed lenders.

via CNBC|
#auction#break-up-plan#fdic
finance2 years ago

FDIC explores break-up plan for Silicon Valley Bank after failed sale attempts.

The FDIC is planning to relaunch the sale process for Silicon Valley Bank (SVB) after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank, which includes all its consumer deposits, on Friday in a separate auction process. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday.

via Reuters|
#auction#break-up-plan#fdic