How EY-Parthenon helps people at the pointy end of M&A

Josie Ananto planned to study psychology because she wanted a career devoted to helping people. Her father insisted she become an accountant. Today, as Asia Pacific Transaction Strategy & Execution Leader at EY-Parthenon, she’s where she always wanted to be – making life better for the people caught up in the stressful business of mergers and acquisitions.??

Our clients are multinational companies?

I work with multinational businesses trying to grow through acquisition. They’ve bought another company. Now they have to decide: Do we integrate or keep it separate? If we’re integrating, how do we design internally to create the most value? What needs to happen to our operating model? How are we going to go to market? What about our systems and processes???

That’s where my team and I come in.?

About 20 years ago, I went through an integration myself. So, I know what it’s like to be on the receiving end of all that uncertainty. It taught me that a successful integration always comes down to the way you get people on board.??

As an advisor to buyer or seller, we try to stay as objective as possible. This should not be an “us vs. them” situation. You have to think about what these people can achieve as a combined business – and help them to own that vision. It’s not about being the smartest person in the room. It’s about co-creating and advising and then stepping back.???

We have to strike a delicate balance?

It’s a very sensitive moment when you bring together the leadership teams of the two companies, knowing that not everyone will get through. But you need everyone’s knowledge to decide the best strategy for the new business. Part of our role is to create a safe space and inspire people to think beyond their uncertain jobs and think strategically about a future they may not be part of. It’s a “plant the seed, even though you won’t see the tree grow” kind of moment. It takes empathy and objectivity in equal measure to get people to put their own emotions aside and look at the bigger picture.???

I think that’s why I’ve landed here. I’m a highly rational thinker who’s motivated by helping people.?

I went from accounting, to coding, to consulting?

In high school, I wanted to major in psychology. But my dad didn’t approve: “How do you make money from that?” So, I took the typical route: accounting and finance and ended up doing Master of Science. My first job was as a software developer – I enjoyed solving problems through coding. Then I shifted gears into consulting and discovered that I love change management. I like the way you take a cross functional view of the business and focus in on strategy.??

I thought I’d be a lifer at my prior firm. But M&A integration consulting wasn’t an area they wanted to further invest in, so I looked for a place where I could get deeper experience. EY was one of the few professional organisations in the world with broad M&A capabilities, from match making, to diligence, to valuation, to deal making, to execution – all the way to value creation and improvement.??

It took a year of conversations before I pulled the trigger. It was worth doing my “homework”. I know I’m in the right practice in the right organization. I love that, although EY-Parthenon is largely organized by sectors, Transaction Strategy & Execution cuts across all of them. So, when we go to market, we partner with the sector team. It’s great!??

People tell me that, for a partner, I’m unusually hands on. It gives me joy to help create the right leadership workshop to get the right outcome. I love talking about strategy and thinking through every possibility to execute exceptionally well.??

I find it hugely satisfying to work with a client over several years and see them grow their revenue by five, six or seven times. It’s always interesting when the leadership team of what used to be a $3bn business finds themselves managing a $20bn company. It takes a different mindset. I love helping leaders to grow into their new roles. There’s nothing better than having a long-term client call and say, “thank you”.??

We aim to build diverse teams?

In Singapore, I’ve put together a tight-knit team. A third are senior managers – half of whom are women. I like to think I’ve amassed the “right rainbow”. Half are veterans of the Singapore M&A environment. Half transferred from other service lines and other countries (UK, Australia, US) to bring in complementary skill sets. Everybody offers something different.?

The day I made partner, I was pregnant with my son. When other women ask me whether they can be a leader and have a family, I tell them it's not black and white. Of course, you can do it! But you need to find the right support model and be clear about the trade-offs you’re willing to make. I don’t hide the fact that my first three years as a mum and a partner were extremely tough. But I learnt a lot. I became more organized and focused on what I wanted to do. I gave away some things and did more of others.??

Josie Ananto is EY Asia-Pacific Transaction Strategy & Execution Leader and a Principal with EY-Parthenon Strategy and Transactions teams at Ernst & Young LLP.

Considering EY-Parthenon for your next career move? Please get in touch with Josie or visit ey.com/en_sg/careers/parthenon/join to learn how you can build a strategy consulting career with purpose that’s unique to you.?

The views reflected in this article are the views of the author and do not necessarily reflect the views of the global EY organization or its member firms.?