news.top-consultant.com/UK/news_story.asp?ID=5258 -
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Published on: 10/31/2008
Last Visited: 11/10/2008
Ernst & Young LLP's Transaction Advisory Services group (TAS) has appointed Stephen Payne its Americas Leader for the Working Capital Advisory Services (WCAS).Payne will oversee and expand the US WCAS group within TAS.
Ernst & Young appoints Stephen Payne Americas Leader of Working Capital Advisory Services
For almost eight years, in 60 countries around the world, WCAS has helped companies across a broad range of industries quickly gain incremental cash flow -- expanding their overall liquidity by reducing cash trapped in working capital.A market leader with a dedicated global practice, WCAS has identified over US$15 billion in working capital opportunities to date for over 100 companies.
"We are extremely pleased to have Stephen join Ernst & Young LLP's TAS as Americas Practice Leader for WCAS," said Steven Krouskos, Americas Accounts and Growth Leader for Ernst & Young LLP TAS. "His nearly 20 years of experience focused exclusively on helping organizations liberate cash from working capital will be an important contribution to WCAS' growth and future success in the US."
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"Cash is king again in today's challenging credit environment," said Mr. Payne."In so many organizations, the focus has been on profit instead of the balance sheet.That's changing now due to the financial crisis.Cash from working capital is the best source of liquidity."
Stephen joins Ernst & Young from REL, a global operating division of The Hackett Group and a leading consulting firm focused on delivering sustainable cash flow improvement from working capital.As President of REL, Stephen oversaw all sales, marketing, research and operations delivery globally.He has extensive experience in working capital programs and operations leadership, and is a frequent speaker and published author on best practices and performance relating to working capital and cash flow.