Bob Contri Named Head of Deloitte's Banking & Securities Team

NEW YORK, Jan. 18, 2011 /PRNewswire/ -- Deloitte announced today that Bob Contri has been appointed leader of the banking and securities sector practice in the United States. Contri was also elected a vice chairman.

Contri succeeds Jim Reichbach, who held the role for more than five years. Reichbach will continue to lead Deloitte's overall financial services industry group and a number of strategic initiatives to meet the challenges and opportunities in the post-financial crisis market. Reichbach has also taken on an expanded new role with select clients.

"Over the course of Bob's career at Deloitte, he has been a driving force behind many of our most important banking relationships," said Bill Freda, vice chairman and U.S. managing partner for clients and markets, Deloitte LLP. "He brings an outstanding record of service to the banking sector, so I am thrilled that Bob will be taking on this new role and am confident that he will continue to elevate our efforts in this sector."

In his new role, Contri is responsible for providing deep banking and securities industry experience to Deloitte client teams, as well as setting the sector's overall strategy. He also is spearheading Deloitte's efforts around helping clients respond to the Dodd-Frank Act's operational and business implications.

"Banks need to consider a fundamental transformation during a time of continued economic, political and regulatory uncertainty," said Contri. "This transformation will likely span their businesses, customers and geographies, requiring them to re-think many of their traditional business and operating models."

During a career spanning more than 20 years at Deloitte, Contri has served in a variety of leadership and strategic client service roles throughout the financial services group, both in the U.S. and at a global level.

Most recently, he served as leader of the global financial services consulting team and was responsible for coordinating the financial services consulting practice across 30 countries. He also served as deputy managing partner to this group. Previously, Contri was the Northeastern region's banking and securities leader and was responsible for the region's client portfolio in New York and other markets.

Contri has a bachelor's degree from Gettysburg College and a master's degree from Rutgers University. He is a member of the Rutgers Graduate School of Business' advisory board.

Deloitte's banking & securities sector also announced several new senior-level hires, including:

• Sabeth Siddique, director, Deloitte & Touche LLP: Siddique, who will help lead Deloitte's credit risk management group, previously served as the assistant director of the banking supervision and regulation and led the credit risk department at the Board of Governors of the Federal Reserve System.
• Frank Strong, principal, Deloitte Tax LLP: Strong, previously a partner at Shearman & Sterling LLP, will serve as the co-leader of Deloitte's financial instruments group.
• Omer Sohail, director, Deloitte Consulting LLP: Sohail, who will lead Deloitte's banking analytics and information management team, had been a partner in Accenture's information management services group.

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

SOURCE Deloitte