Former Treasury Official to Lead Ernst & Young
Ernst & Young has elected Mark Weinberger as the firm’s next global chairman and CEO, succeeding Jim Turley, who plans to retire in June 2013.
Weinberger, 50, was the Assistant Secretary of the U.S. Treasury for Tax Policy under President George W. Bush and was appointed to the U.S. Social Security Advisory Board by President Clinton. Weinberger has also worked in the U.S. Senate and on senior tax policy and pension advisory committees.
He is currently E&Y’s global head of tax and sits on the firm’s Global Executive body. He also serves on E&Y’s Global Practice Group, Global Markets Executive and Global Public Policy Committees. He previously served as the Americas head of tax and has been a senior advisory partner for many of the organization’s largest clients. He also previously served on the Americas Executive and U.S. Operating Committee.
Before E&Y, Weinberger was co-founder of Washington Counsel, P.C., a D.C.-based law and legislative advisory firm that merged into Ernst & Young LLP and now operates as Washington Council Ernst & Young.
“Mark is an outstanding professional who has demonstrated strong leadership within and outside our firm, and serves an active role with many of our largest clients,” said Turley, who has led Ernst & Young since 2001. “Importantly, Mark has a regulatory mindset, which will ensure Ernst & Young maintains strong connections with the many audit regulators and other officials with whom we engage globally. I look forward to working with Mark through a productive transition and am confident he will be an outstanding leader for Ernst & Young who will take our organization to even greater levels of success.”
Ernst & Young recently announced revenues of $22.9 billion for the fiscal year ending June 30, 2011 and a global headcount of 152,000 people in 144 countries.
“It is a privilege to be chosen to lead this great organization,” Weinberger said in a statement. “No doubt, these are challenging times as the world faces profound economic, geopolitical and demographic changes. Ernst & Young is well positioned to play a constructive role assisting our clients, regulators and other stakeholders shape the future.”