Financial risk expert Tsuyoshi Oyama joins Promontory from Deloitte Japan

26 March 2019

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.

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.