ERNST and Young is to re-establish its presence in Gibraltar after stiking a deal with key executives from Baker Tilly’s office in the region.

Under its terms, five Baker Tilly company directors will move over to become a part of the new EY entity, along with its insurance and tax services staff.

The move comes as a result of increased client demand and follows the group’s 14 year absence from the Rock.

Baker Tilly will continue to operate in Gibraltar, and to service the clients it retains, reviewing resources when appropriate.

A spokesperson for Ernst and Young said the new office will open in September, and while there are no immediate plans for recruitment there may well be opportunities in the future.