Excellence in Leadership
Bob Patton
Americas Leader of Advisory Services Practice
Ernst & Young
In September 2008, at the height of the Great Recession, Bob Patton walked into a board meeting and requested a lot of money to re-invigorate his business. Patton, who had been with Ernst & Young and Capgemini, had only returned to the firm a few months earlier and E&Y's risk practice was in the midst of a significant slide. "Was I crazy?" Patton asks. "This was an aggressive plan, and it took some courage for me to ask for the money, but it took more courage for the board to agree to it."
They did, and since that time the Advisory practice in the Americas has grown by more than 25 percent and has added 4,000 consultants. Globally, the Advisory practice, which includes business and risk advisory, generates some $3.6 billion. Patton is responsible for business advisory and risk advisory practice in the Americas, which accounts for $1.7 billion in revenue and 6,000 consultants.
Looking ahead, he says he sees double digit-growth over the next five years—mostly organic but also what he calls "strategic tuck-ins," smaller firms that fill a niche competency or geography, such as the ISA Consulting acquisition back in April.
"When I came back in 2008, I knew there was a huge opportunity and we set a vision not about market share gain or revenue growth—those don't inspire people," Patton says. "What inspires people is making a difference. We see huge issues that are transforming companies, and our vision was making a real difference."
To reach that goal, Patton says the firm targets what he calls "the EY wedge," a market position focused squarely on the business performance space, right in the middle of the strategy and systems integration space. "We really believe this is unique, and it gets right to our vision of making a difference."
Patton says he was with a Fortune 500 company looking to consolidate vendors and EY was the 12th firm to meet with them. When Patton talked about the EY wedge, he says they stopped him and said EY was the first firm that told them specifically what they would do. "It's a great message that's really resonating with clients, as well as our own people," Patton says. "It's inspiring, and that's what we envisioned back in 2008."
—J.K.
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