EY has today announced plans to establish a new Financial Services Technology Hub in the Midlands, as it responds to rising market demand for tech expertise outside London.
The new Hub will be run by a four-strong leadership team - Sagar Khandelwal, Heather Hales, Mark Wood and new hire, Joe Murray - and forms part of EY’s ambitious growth target to double its UK financial services technology revenues over the next three years.
Located at 1 Colmore Square in Birmingham, the new Hub expands EY’s already-strong financial services audit and advisory technology capabilities and will serve clients across the UK.
The Leadership Team
Sagar Khandelwal is a UK partner and has been at EY since 2013. He has extensive digital and emerging technology expertise, and leads large scale digital, cloud and data transformation programmes for financial services firms. Sagar also brings very relevant experience in terms of setting up EY’s technology hub in the Midlands, having established three similar such hubs in European locations over the past six years. Prior to EY, Sagar was the interim CIO & Head of Delivery for Insurwave, an insurance blockchain platform.
Heather Hales is a UK Partner with over 22 years’ experience working in insurance. Heather joined EY in 2010 and currently leads the firm’s Insurance Technology Transformation People team, supporting some of EY’s largest European financial services clients achieve multi-year digital and technology transformations projects.
Mark Wood joined EY as a UK Partner in 2020. He has over 25 years’ experience in the banking sector, working both in industry and on the consulting side. Within his career, Mark has led on a number of major change programmes, and has particular expertise in digital transformation and technology-driven strategy.
Joe Murray joins EY from BJSS where he was Head of Ops Transformation & Sustainability. As part of EY’s technology consultancy leadership team, Joe will be focused on helping banking clients navigate their digital transformation journeys. Joe has over 21 years’ experience delivering complex transformation operations and operating models for companies across different sectors. Prior to his career in consulting, Joe spent 16 years in the UK Armed Forces.
Commenting on the new Tech Hub, Martina Neary, Financial Services Midlands Leader at EY, says: “This is a significant investment in our technology business in the Midlands as we expand the range of skills and services that we’re able to provide to clients. We have a strong and growing Midlands practice and are focused on attracting top tech talent to meet the needs of financial services companies across the region and the UK.”
Preetham Peddanagari, EY UK Financial Services Technology Partner adds: “Birmingham, and the Midlands more broadly, is a natural place to establish a technology hub given the talent in the area and the leading financial services companies in the region. Sagar, Heather, Mark and Joe are already drawing up exciting expansion plans and we look forward to welcoming further new team members in the near future from across the Midlands.”
Anna Anthony, UK Financial Services Managing Partner at EY, concludes: “The Midlands is an integral region feeding into EY’s tech growth strategy. Our plan to double UK tech revenues within three years is undoubtedly ambitious, but with businesses increasingly looking to digital to achieve meaningful operational transformation and cost savings in a challenging environment, we are confident that our new Tech Hub will be met with strong market demand.”
Commenting on EY’s new Tech Hub, Neil Rami, CEO at the West Midlands Growth Company, said: “The West Midlands’ status as the UK’s fastest growing tech sector outside of London and wealth of specialist talent makes it the ideal location for EY’s innovative new Tech Hub. The region’s critical mass of financial services businesses is also testament to the wealth of growth opportunities that the West Midlands has to offer ambitious firms. This investment is fantastic news for the region, set to bring a wave of jobs for local people, and we look forward to seeing and supporting EY’s continued expansion in Birmingham.”