EY Expands in Saudi Arabia’s Financial Services Market
In an effort to seize new opportunities and grow its presence in Saudi Arabia, EY is relocating key leaders to its offices in Riyadh, Jeddah, and Al Khobar.
“We are rapidly growing and expanding our financial services consulting capabilities in the KSA market,” said Charlie Alexander, Managing Partner of EY’s Financial Services in the MENA region.
To support this expansion, EY is bringing senior practitioners across various business lines, including audit, financial advisory, deals, consulting, and strategy through EY-Parthenon. “As we announce large strategic wins in the coming months, we are ramping up our team,” Alexander added.
Recently, Wael Tfaily transitioned from EY in Canada to the Riyadh team. With 18 years at EY and extensive experience in transfer pricing, tax, risk management, and international operations, Tfaily is a valuable addition.
Additionally, three senior partners have moved to Riyadh: Jonathan Matchett, Ivica Stankovic, and Jasneet Paintal. “They are all senior and experienced partners in their respective fields. We are delighted they will now serve the KSA market on the ground alongside our existing pool of partners,” noted Alexander.
Matchett, an insurance sector expert, leads EY’s Insurance business in MENA. Stankovic, with over 23 years of banking sector consulting experience, previously led EY’s Advisory business in Kuwait. Paintal, who joined EY two years ago after working in banking and for Accenture, focuses on technology transformation and has moved from Abu Dhabi.
EY’s growth in the financial services sector is driven by the expanding market, evolving regulatory environment, upcoming mandatory audit rotation in 2025, and increased activity from sovereign wealth funds.
As one of the Big Four and a leading financial services consulting firm in the region, EY is well-positioned to meet the evolving demands of financial institutions. “The financial services sector is a top priority for EY, and we are excited and ready for the opportunities in the Saudi market,” Alexander concluded.