Raluca Rusu, Italy
Raluca Rusu, Manager TAS, Italy
Who are you and what is your role at EY?
Having grown up in Bucharest and graduated from the Bocconi University in Milan, I moved to London in 2010 where I joined the investment banking division of J.P. Morgan. After spending almost three years in the Equity Capital Markets origination team focusing on equity-linked notes, I decided to broaden my skills sets and move into consulting. I had also had enough of the rainy London so I was eager to get back to the sunny Italy where I truly feel home, I admit.
So this is how I entered EY in 2013 joining the Transaction Advisory Services team based in Milan and covering the financial sector. Since then I have specialized in Valuation and Business Modelling assisting clients on corporate finance transactions such as strategic acquisitions, non-core asset disposals, intercompany reorganizations etc.
What do you enjoy most about working in Financial Services?
Working in Financial Services is like being on a roller coaster as there is so much change in the sector driven by technology, regulation, political and macroeconomic landscape that our clients need to be constantly adapting to this fast-paced environment and, in doing so, they often need consulting firms.
For example, Italian banks are currently undergoing significant business model transformation by investing in powerful digital platforms, reducing the branch networks, exiting the non-core activities and reducing the non-performing loan exposures in order to comply with a more and more stringent regulation. What I enjoy most is being part of this change and feel that I can contribute towards helping our clients reaching their goals while having massive exposures to projects that are all so different among each other. I can definitely say no day is the same!
If we look at EMEIA FSO, what would you say our key competitive advantages in the market?
EMEIA FSO stands out for its integrated approach to deliver full-spectrum services to our clients operating across multiple countries. Clients often do see us as a one-stop shop where they can rely on a complete set of competences such as financial, legal, tax, risk management and so on.
As the Financial Services practice spans across EMEIA, we are able to pull together cross-country teams based on the required expertise in order to deliver exceptional client service. For example, we assisted various private equity funds based in London and interested in investing opportunities in Italy so we worked with our London office colleagues by exchanging knowledge and local best practice. Another example is assisting the European Central Bank on different projects where coordination of local teams was key to delivering an integrated service.
Since joining EY, what has been your biggest achievement to date?
I haven’t actually thought about it until now but if I look back to my first days in EY as a senior consultant I realize how much I’ve learnt in the meanwhile. Switching from investment banking to consulting and from corporates to the financial sector was not straightforward but the learning on the job was definitely crucial in getting me on the top of a steep learning curve. I had the chance to learn from my colleagues and managers and to get inspired by the success stories I’ve heard. So when I got my promotion to manager, somehow unexpectedly as it allowed me to skip one year, I realized that I succeeded in gaining the trust of my team and my clients, which represents my biggest achievement so far.
What is your vision for your team moving forward?
I had the chance to witness significant changes in the TAS team as it more than doubled in size since I joined and it expanded across a wide range of services in an attempt to move ahead of the competition and anticipate market