Financial risk expert Tsuyoshi Oyama joins Promontory from Deloitte Japan

26 March 2019 Consultancy.asia

The head of Deloitte Japan’s Centre for Risk Management Tsuyoshi Oyama has departed the firm to take up the CEO position at Promontory Financial Japan.

Established in 2001 by Clinton-era US Comptroller of the Currency Eugene Ludwig, and wholly acquired by IBM in 2016, Promontory Financial Group is a global strategy, risk management and regulatory-compliance consultancy for the financial services sector with a reputation for bringing on board former high-profile market regulators and highly accomplished experts in the field.

Continuing that trend, Promontory has now appointed former Bank of Japan deputy director-general Tsuyoshi Oyama as its new CEO in Japan – one of the firm’s 18 locations across the globe, including additional Asian offices in Singapore, Beijing and Hong Kong. Oyama crosses after nine years with the Japanese arm of Deloitte, where he served as a partner and head of its local Centre for Risk Management.

With a brief stint as a risk and regulatory advisory director at PwC Aarata in between, Oyama joined Deloitte in 2010 after nearly a quarter of a century at Bank of Japan, where he kicked off his career in 1985 following a degree in economics with Tokyo’s Hitosubashi University – ultimately rising to deputy director-general in the central bank’s financial system and bank examination department.Financial risk expert Tsuyoshi Oyama joins Promontory from Deloitte JapanAn author of several books on risk management and the global economic landscape, Oyama during his time as a partner at Deloitte served corporate and financial services clients with expertise in scenario-based stress testing, emerging risk and non-financial risk management, risk appetite frameworks and risk culture, and Basel III capital implementation and risk management.

“Oyama-san is one of the most experienced financial industry experts in Japan,” said Ludwig. “Our clients will benefit from his deep experience and trusted advice, and we are thrilled to welcome him into the Promontory fold.” Among that fold are former Deputy Assistant Secretary for the US Department of Treasury and current Promontory managing director and CEO for Asia, Michael Dawson.

“I am honored to join Michael Dawson and the other highly skilled experts in Promontory’s office in Japan and look forward to helping our clients strengthen their risk management and compliance functions,” Oyama said. “Promontory is the global leader in strategy, risk management, and regulatory-compliance consulting, and also now is an IBM company with strong technologies to support conventional practices.”

Tsuyoshi Oyama replaces Takashi Oyama at Promontory – another former Bank of Japan executive who has held the CEO since 2016 – and departs Deloitte following a tough period which recently culminated in a $2 million settlement with the US Securities and Exchange Commission for breaches against auditing independence. Elsewhere, Deloitte in Australia earlier this month acquired risk consultancy Converging Data Australia.