NEW YORK--Ernst & Young is reviewing its American PR business, with several firms understood to be vying for the seven-figure brief.

The professional service firm currently works with a number of PR firms, including Peppercom, Fleishman-Hillard, and River Communications.

It is thought that all three incumbents are involved in the review, along with external contenders. Pitches are taking place in New York this week. 

The assignment covers all of Ernst & Young's business divisions, which include tax, assurance, financial services and advisory. However, it is understood that not every firm is pitching for the entire portfolio; some agencies have been asked to focus on specific business areas.

Accordingly, it remains unclear whether Ernst & Young will consolidate the business with one agency or divide it among several.

An Ernst & Young spokesperson declined to comment on the review, noting that the company regularly talks to agencies.

Last year, the British-headquartered company handed its UK financial services PR business to Kreab Gavin Anderson.