Women at the top: EY becomes first Big 4 firm with dual female leaders

EY has just made history – Alison Duncan will take over as UK Chair of EY, joining forces with Anna Anthony, who became UK Managing Partner in January. Together, they form the first all-female leadership team at a Big Four firm in the UK. This move not only signals a shift in the traditional leadership structure but also highlights a growing commitment to diversity at the top of global organisations.

From Graduate Trainee to Chair

Alison Duncan’s journey is the kind that inspires. A true “EY lifer,” she joined the firm as a graduate trainee and steadily rose through the ranks to become one of the UK’s most senior auditors. She’s been a partner for over two decades, has led audits for FTSE 100 giants like Vodafone, and most recently served as EY’s UK head of regulatory and public policy.

For business students, Duncan’s rise is a real-life case study in professional development, resilience, and leadership. It also shows the importance of industry experience and long-term commitment within a firm. Her appointment came after a comprehensive nomination process, with final approval by EY’s 894 UK equity partners expected later this year.

Why the Split in Roles?

Until recently, EY’s UK Chairman and Managing Partner was a combined role held by Hywel Ball. But following recommendations from the Financial Reporting Council to strengthen corporate governance, those responsibilities are now separated. The idea is to create clearer oversight and better checks and balances within the firm.

For students studying corporate governance, this is a textbook example of how external regulatory bodies influence internal organisational structures.

A Bigger Picture for Business

Duncan’s appointment is part of a broader trend among the Big Four to improve gender diversity at the highest levels. While Bina Mehta became KPMG’s UK chair four years ago, EY is now the first of the Big Four to have women in both of its top UK roles.

This is more than just a headline—it’s a signal to future graduates that the business world is evolving. Diversity and inclusion aren’t just buzzwords; they’re being reflected in boardrooms and executive teams.

Lessons for Aspiring Leaders

Whether you’re aiming for a career in audit, consulting, or any other business field, there are some key takeaways here:

• Long-term commitment pays off. Duncan’s decades at EY show the value of building expertise and relationships within an organisation.
• Leadership is evolving. Gender-balanced leadership isn’t just possible—it’s becoming a competitive advantage.
• Governance matters. Structural changes like separating chair and managing partner roles demonstrate the importance of oversight in large firms.

As Alison Duncan herself put it, her new role is “an honour and a privilege.” But it’s also a powerful reminder that career ceilings can be broken—and that the future of leadership looks increasingly inclusive.