The Americans were concerned that the split would leave either one side or the other with less in-house expertise on a vitally important (and highly lucrative) topic: tax.

Boland abruptly announced in April that she was shelving work on the demerger, following opposition from other US partners, in a move that stunned international colleagues and eventually forced Di Sibio to follow suit – killing off the deal.

But with the split plans abandoned, EY still faces the same dilemmas.

“You have challenged the status quo, you can’t stay the same, so what is your plan B?” one partner told Financial News earlier this year.

Somewhat understatedly, Ball says: “Once a global chairman gets elected, they need to review the global strategy.”

There is continuing debate about whether to pursue a separation by other means. Supporters argue that the rationale for the deal still holds.

TPG, a private equity firm, recently offered to take a stake in a separated consulting business, the Financial Times reported last week. EY’s bosses have so far rebuffed the bid.

For now, the most pressing question is who will take charge and set the tone for the sprawling giant.

Having dealt the fatal blow to Project Everest – a move that reportedly left some colleagues “livid” – Boland is not expected to put herself forward as Di Sibio’s replacement though she may play a kingmaker role.

That could prove troublesome for Andy Baldwin, EY’s global managing partner and a Brit, who is seen as the leading candidate to take on the global chairman position but may be seen as tarnished by his prominent role pushing the demerger plan.

EY Canadian chairman Jad Shimaly is seen as a potential unity candidate. Marie-Laure Delarue, who leads the global assurance practice, has also been touted as a contender.

Other names floated as potential runners include Janet Truncale, boss of EY’s American financial services business, Ryan Burke, its head of private client business, and Julie Teigland, the firm’s head of Europe, the Middle East, India, and Africa, according to reports.

Ball, EY’s UK chairman, rules himself out but says the potential candidates “are all great alternatives, and they are very talented people”.