EY to double size of cybersecurity team in China

Financial service firm EY aims to double the size of its cybersecurity team in China “within next 18 months” to meet surging demand in the market where its cybersecurity revenue soared 50 percent annually, Shanghai Daily learned today.

EY, one of the Big Four accounting companies, is also seeking merger and acquisition opportunities in China, Paul van Kessel, leader of EY Global advisory cybersecurity team, added.

EY plans to have 300 security specialists in eight Chinese cities, including Shanghai, hopefully within next 18 months, double the current level, van Kessel said during an interview in EY Shanghai office.

Demand for cybersecurity, which covers issues like careless employees opening emails or links with malware, ransomeware attacks and compliance with national security laws, has surged among companies in China. In Asia Pacific, the identification (security threat) market is expected to hit US$2 billion in 2017, according to EY.

In China, EY's revenue has grown 50 percent annually and it is expected to maintain a “double digit” growth rate.

In China, EY said it cooperates with partners including Microsoft and Nokia as well as domestic brands like Huawei and Alibaba to offer customers various services.