EY Breakup Plan Doomed by Miscalculations and Powerful Opponents

Ernst & Young deal failure sets off anger with U.S. firm, which blocked the split

Carmine Di Sibio, EY’s global chairman and chief executive, had launched the breakup plan.Photo: Patrick t. fallon/Agence France-Presse/Getty Images

For months, Ernst & Young’s top leaders characterized their planned breakup of the firm as almost inevitable. All that was left were some adjustments around the edges and votes by partners in dozens of countries.

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