MUMBAI: The research, audit and consulting major Ernst & Young (E&Y) has promoted Farokh Balsara to the Media & Entertainment (M&E) industry leader for Europe, Middle East, India and Africa (EMEIA) region.
Based in Mumbai, Balsara has been E&Y‘s M&E Practice leader in India for over a decade. In his new role, Balsara will now drive the sector program throughout Europe, Middle East India and Africa. He is the first partner from India to lead a sector at an EMEIA-wide level.
EMEIA area comprises 12 sub-areas - Africa; Belgium and The Netherlands; Commonwealth and Independent States; Central and South-East Europe; Algeria, France and Luxembourg; Financial Services Office; Germany, Switzerland and Austria; India; Mediterranean; Middle East and North Africa; Nordics; UK & Ireland.
E&Y accounts, industries and business development leader - EMEIA Julie Tiegland said, "Over the last several years, he (Balsara) has built what is undoubtedly India‘s leading M&E Practice among all professional services firm, advising both Indian and multinational M&E companies."
"The appointment is also reflective of the growing importance of the Indian M&E sector on the global landscape and also of the strength of Ernst & Young‘s media and entertainment practice in India. As the M&E sector increasingly converges across boundaries, Farokh‘s knowledge and experience will be deeply valued by our clients across the EMEIA area. M&E is a priority sector for our firm globally and we are seeking to significantly strengthen our M&E market presence across the EMEIA region," Tiegland added.
Balsara said, "I am looking forward to taking on my new responsibilities as Ernst & Young‘s EMEIA leader for M&E Practice. E&Y is the market leader in working with the M&E industry and we would continue to strengthen our market leadership position. We have a strong M&E industry practice in France, Germany, UK, Italy, Spain, India and the Nordics and with the challenging business environment, our endeavor would be for our clients to benefit from cross coordination of ideas and best practices between developed and emerging markets. In my new role, I am looking forward to working with a strong EMEIA-wide team of professionals to significantly ramp up our Transactions and Advisory practice for M&E and growing the business through the provision of fresh, innovative services to our clients."
Balsara has over 25 years of experience and has extensively advised several large Indian M&E companies in risk management and in improving the efficiency and effectiveness of key processes.
He is also experienced in performing a variety of market reviews and feasibility studies, and developing entry strategies for multinational M&E companies desiring to establish a business presence in India. In the past, he has also specialised in providing a range of Transaction Support Services (due diligence reviews, Valuation, M&A support, etc.) to multinationals, strategic investors and private equity funds across sector categories including television, films, new media, radio and music, advertising and marketing and print.
E&Y‘s key M&E clients in EMEIA include Bertelsmann, Pearson, Lagardere, Publicis, Technicolor, Reed Elsevier, Vivendi and Axel Springer amongst others.
