Carmine Di Sibio elected to succeed Mark Weinberger as head of EY

22 January 2019

Carmine Di Sibio has been elected as EY’s next Global Chairman and CEO, to replace current head Mark Weinberger at the beginning of July.

Ernst & Young has elected Carmine Di Sibio as its new Global Chairman and CEO, effective from the 1st of July. Currently acting as the Big Four firm’s Global Managing Partner - Client Service, with overall responsibility for its major service-line divisions and four primary geographies, Di Sibio will take over from incumbent CEO Mark Weinberger when he steps down in June after six years in the role.

Di Sibio has been with EY for more than three decades, originally joining the firm in the US in 1985, and in addition to overseeing the firm’s four geographic groupings (the Americas, EMEIA – Europe, the Middle East, India and Africa, and the soon to be integrated Asia Pacific and Japan), and four primary service divisions – tax, advisory, assurance, and transaction advisory services – Di Sibio has also been tasked with the execution of EY strategy.

For its last reporting year, EY pulled in a record $34.8 billion in revenues across its services and regions, up 7.4 percent year-on-year (with its Asia Pacific business the firm’s standout growth region). As well as guiding the firm’s operations, Di Sibio also holds responsibility for EY’s $1 billion innovation investment set aside for new technology over the next two years, as is the co-chair of the firm’s Global Diversity and Inclusiveness Steering Committee.Carmine Di Sibio elected to replace Mark Weinberger as head of EY“Carmine is an outstanding and inclusive leader who has a foundation in audit and in serving the largest EY clients,” Weinberger said. “He is a leader who understands the importance of diverse and inclusive teams, and he knows how to engage people to reach their full potential. I believe the organisation has made an exceptional choice, and Carmine is the right EY Global Chairman and CEO in these transformative times.”

“As I reflect on my time at CEO, it’s remarkable to consider how much the world has changed—and how much the expectations of global businesses have changed along with it,” Weinberger wrote ahead of this year's Davos conference. “Today, in an era of transformation and uncertainty, people around the world are looking to the business community for leadership. It’s time for next generation of CEOs to rise to the challenge. Our license to lead depends on it.”

Di Sibio has held numerous global operating and leadership roles during his three decades with the firm, previously serving as Chair of the EY Global Financial Services Markets Executive and as Regional Managing Partner for the Americas Financial Services division, where he started EY’s Risk Management and Regulatory Services. Di Sibio holds a BA in Chemistry and an MBA from New York University’s Stern School of Business.

“I am honored to be chosen to lead this great organisation, which I have been part of for over 33 years,” the CEO-elect said. “The role we play in the capital markets and the work each and every one of the 270,000 EY people do every day to create a better working world are things of which I’m very proud. It's been a great opportunity to work with Mark and the leadership team on the development and execution of our Vision 2020 strategy over the past six years.”


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Deloitte adds Richard Hayler as Disputes and Arbitration leader

16 April 2019

Deloitte has brought in Richard Hayler as its new Southeast Asia Disputes and Arbitration Leader. Hayler crosses from FTI Consulting – continuing the recent personnel shuffle in the regional forensics space.

Following the onboarding of veteran forensics expert Jarrod Baker as its new Forensic Investigations Leader for Southeast Asia earlier this year, global professional services leader Deloitte has added another ex-FTI Consulting executive to its regional forensics practice with the appointment of Richard Hayler as its new Southeast Asia Disputes and Arbitration leader. It’s Hayler’s second stint at the Big Four firm.

Originally starting out as an auditor in the chemicals, pharmaceuticals & energy practice of fellow Big Four firm KPMG in the UK (via a five-year Technical Director role with specialist life sciences consultancy Primarius), Hayler after three years crossed to Deloitte in 2008, serving as an Associate Director for its Forensic & Dispute Services division in London, and then from 2012 in Singapore. 

From there, Hayler joined the Singapore office of FTI Consulting’s Economic & Financial practice, promoted to senior managing director at the beginning of last year. Now, like his colleague Baker, Hayler has returned for his second stint with Deloitte, after respectively four and nearly six years with FTI. Meanwhile, FTI recently added e-discovery expert Christopher Marks as a senior managing director – continuing its global raid on Ernst & Young.

“I am delighted to be returning to Deloitte rejoining old friends and being on board with a great team,” Hayler said. This is an exciting time to be back at Deloitte as the firm has made great strides integrating to serve its clients across Asia Pacific better and I look forward to being part of that success.” As of September last year, Deloitte began integrating its Asia Pacific arms into single operational unit – with a co-attendant $321 million investment committed to human capital.Deloitte adds Richard Hayler as Disputes and Arbitration Leader in Southeast AsiaHayler across his career has developed expertise in a broad range of  competencies around forensics, disputes and litigation, including complex valuations, M&A and contractual disputes, accounting irregularities; alleged misappropriation, asset tracing and fraud investigations among others – having led or advised teams multiple jurisdictions in “some of the largest and most complex cases in the last decade.”

“Having Richard in our leadership team is a strong market differentiator,” said Tim Phillipps, Deloitte’s Financial Crime Strategy and Response Network leader for APAC. “His track record and extensive experience will be critical as we continue to expand and strengthen our presence in the Southeast Asia region.  It will enhance our capacity to serve our clients, and ensure that we continue to provide clear, timely and insightful counsel.”

In addition to Deloitte, Hayler serves on the Standards Review Board of the International Valuation Standards Council, as well as being a member of the adjunct faculty at Singapore Management University’s School of Law and the Honorary Treasurer for the Board of Directors of the Chartered Institute of Arbitrators Singapore. He was also last year a group representative for financial & fintech business group with the local British Chamber of Commerce.

According to the firm, Hayler’s recruitment forms part of its plans to expand its forensics services in the region – a practice which has already grown substantially in recent years to include more than 125 dedicated forensic practitioners based in Singapore, Indonesia, Malaysia, Thailand, and Vietnam, with growth driven by investment in disputes and arbitration, electronic discovery, investigations, forensic digital platforms and financial crime advisory and analytics among other areas.