INTERVIEW VIEW Interview INTER EY’s Purpose An Interview with Mark Weinberger, Global Chairman and Chief Executive Offi cer, EY things that we believe set us apart: our purpose, insightful. Being insightful means looking be- our global integration, and our culture of excep- yond the obvious to understand what the prob- tional client service. lem really is. Being connected means knowing Our purpose – “Building a Better Working how to ask the right person the right question World” – is also our tagline, and we’re the only to reach the right perspective on the problem. one of our peers that’s explicit about purpose. Being responsive means being deeply commit- Mark Weinberger A couple of years ago, when we were drawing ted to using that understanding to achieve a rel- up Vision 2020, which is our plan to be the evant, practical, and precise solution. It’s simple EDITORS’ NOTE Mark Weinberger began leading professional services organization by but powerful. his career with EY in 1987 and has served 2020, we knew ‘purpose’ was the most impor- EY is known for its entrepreneurial cul- in a variety of Americas and Global lead- tant thing to get right. We knew that our clients ture. How are you able to keep an entrepre- ership positions including his most re- and our colleagues wanted to understand our neurial spirit in the fi rm and stay innovative cent role as EY’s Global Tax Leader from role in the world, and get beyond what we do to in such a large, global organization? 2008 to 2012. He was appointed Global why we do it. It became clear, when we spoke We have a long history of innovation that’s Chairman & CEO-elect in January 2012 and with people around the world, that EY’s sense kept alive by our spirit of partnership – every became Global Chairman & CEO in July of of purpose, although up until then unwritten, generation of partners wants to leave EY stron- 2013. Weinberger serves as Chair of the Global was certainly present. When you look at ev- ger than when they joined, and that means Executive; the Global Practice Group; and the erything we do – every audit, every tax return, change – and our inclusive culture that encour- Global Public Policy Committee. He has previ- every valuation, every interaction with a client ages everyone to bring their ideas to the table, ously served as the Assistant Secretary of the or colleague – each contributes to building a no matter how different or bold they might United States Department of the Treasury (Tax better working world. seem. You can’t be innovative in a culture that Policy) in the George W. Bush Administration. Furthermore, building a better working inhibits. He was also appointed by President Clinton to world acknowledges our part in building trust Let me use the examples of our San Jose serve on the U.S. Social Security Administration and confi dence in capital markets and econo- and Moscow offi ces to give an idea of the type Advisory Board. Weinberger has also held other mies, and the important public policy and con- of pioneering spirit that’s at work at EY. Long U.S. government positions including Chief of vening role we play. So it’s really our higher before anyone had heard of ‘Silicon Valley,’ a Staff of President Clinton’s 1994 Bipartisan calling – why we exist as an organization. It’s couple of our partners saw the potential for the Commission on Entitlement and Tax Reform; the meaning behind the daily activities of our technology industry that was just starting Chief Tax and Budget Counsel to U.S. Senator 190,000 people in more than 150 countries. around San Jose. So the two of them set up a John Danforth (R-Missouri); Advisor to the The second thing that sets us apart is how little offi ce above a drugstore – I guess it’s our National Commission on Economic Growth and globally integrated we are. Most professional ser- equivalent of two guys in a garage – and set Tax Reform; and Commissioner on the National vices fi rms are a collection of national practices, about serving these tiny start-ups. Today, we Commission on Retirement Policy. He holds a where each locally controlled fi rm has its own are market leaders in serving tech clients and B.A. from Emory University in Atlanta, Georgia, management and decision-making processes, our offi ce in San Jose has more than 700 people an M.B.A. and J.D. from Case Western Reserve and its own board and governance oversight. serving companies such as Apple, Google, Intel, University in Cleveland, Ohio, and a Master of But today, that’s outdated and not in keeping and Facebook. We opened our Moscow offi ce Laws in Taxation from Georgetown University with what clients need. The world’s become too in 1989 – the fi rst of the Big Four to go there, Law Center in Washington, D.C. fast and too complex. At EY we understand that, two years before the Soviet Union collapsed – and over the years, we’ve realigned our previ- because we saw how things were changing FIRM BRIEF EY (ey.com) is a leading global ously country-focused organization into a more and the opportunities that were just open- professional services organization that pro- integrated global one – with a global leadership ing up. We’re still the leading fi rm across the vides assurance, tax, transaction, and advisory team and a global strategy. This means our cli- Commonwealth of Independent States today. services. With 190,000 people in more than 150 ents get faster response, more tailored services, This is the kind of boldness and far-sightedness countries, EY is one of the largest professional broader, more experienced teams, and deeper that typifi es EY. services organizations in the world. industry knowledge. That said, it can be hard for a big organiza- The third thing is our culture of exceptional tion to innovate. But the world is moving too How challenging is it to differentiate among client service. We know that, in a competitive fast to stand still – those who don’t innovate the Big Four and how do you defi ne what environment, methodologies and services can won’t survive. Encouraging “intrapreneurship” makes EY unique? be replicated – but how you deliver them and can be as simple as encouraging people to ex- They share the label, but the Big Four are your culture can’t be. Clients can really see the plore and share new ideas. We’re in the process very different in terms of approach, organiza- difference in how they’re served. So we focus of setting up a global award for innovation, for tion and strategy, and also face increasing com- on the highest-performing teams delivering ex- example. We’re also investing in where we see petition from others, such as consultancies and ceptional client service. Exceptional client ser- future growth. One example is our $500-million law fi rms. At EY, we’re really focused on three vice is about being connected, responsive, and investment in data analytics – something our 12 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2014 LEADERS MAGAZINE, INC. VOLUME 37, NUMBER 4 clients are increasingly using to drive their own kids into math in Australia. We particularly focus still as important – if not more so – than it’s innovations. This kind of investment is funda- on entrepreneurs because they drive innovation ever been. I’m Global Senior Advisory Partner mental to meeting our target to double in size and economic growth, and create jobs. We also for a number of clients. It’s important for any by 2020. focus on the future workforce, from employees business leader to foster those relationships and Finally, our commitment to entrepreneur- to young entrepreneurs, because we know that remain plugged into business trends around the ship also extends to our support for others. the next generation is critical to global progress. world – and my client relationships are a vital Our Entrepreneur Of The Year™ awards, for This enables us to put our skills to good use part of that. As CEO of a global company, I example, are held in more than 60 countries in addressing global challenges such as youth can’t limit my knowledge to what’s happening worldwide and have been run- in my backyard, or to any one re- ning for nearly three decades. gion of the world. I need to have We’re really proud to have rec- an up-to-date understanding of ognized the achievements of tens geopolitical and macroeconomic of thousands entrepreneurs dur- forces, which can at any mo- ing that time. ment affect our clients and our How critical is it to businesses. have a diverse and inclusive What are your key priori- organization worldwide and Our purpose ties for EY in order to ensure would you highlight EY’s lead- that you maintain your indus- ership in this regard? – “Building a Better Working World” – try leadership in the future? It’s vital. Today, about 18 The world is changing fast, percent of our revenue comes driven by globalization, technol- from emerging markets. Fast for- is also our tagline, and we’re ogy, demographic shifts, and the ward to 2020: we’re predicting rise of the emerging markets – is- about 25 to 30 percent of our sues that affect not only us but revenue is going to come from the only one of our peers that’s our clients too, and so are fac- emerging markets. So we need to tored into our plans under Vision understand how people who are explicit about purpose.