NEW YORK, July 31, 2013 /PRNewswire/ -- Marc Saidenberg, former senior vice president and director of supervisory policy at the Federal Reserve Bank of New York, has joined the Financial Services Office of Ernst & Young LLP as a Principal.
Saidenberg brings 18 years of banking experience to EY, including more than 15 years with the New York Fed where, in addition to his senior leadership roles, he also represented the Bank on the Basel Committee on Banking Supervision and served as co-chair of the Committee's Working Group on Liquidity. During this time, Saidenberg was actively involved in the development of the Basel III capital and liquidity standards, as well as supervisory expectations for capital planning and liquidity risk management. He was also a Managing Director at Merrill Lynch, working in its Finance and Treasury functions.
"We are extraordinarily pleased to welcome Marc Saidenberg to the firm's Financial Services Office," said Hank Prybylski, Advisory leader, Financial Services, Ernst & Young LLP. "Marc's extensive cross-jurisdictional regulatory experience will be invaluable for our clients as they continue to adjust to myriad challenges, including implementation of Basel III and Dodd-Frank. Marc is a great addition to our already strong team of prudential supervision advisory professionals."
Saidenberg's arrival further strengthens EY's extensive prudential supervision experience. His focus will be on regulatory-driven transformational change facing financial services institutions' risk and finance functions, including risk management, capital management, liquidity management, and stress testing consulting services.
"As the industry continues to work through understanding and implementing changes to address systemic risk, I look forward to being a part of EY's leading prudential supervisory consulting teams," said Saidenberg. "I have spent a good deal of my career helping to define the global regulatory reform agenda and the intersection of industry growth and market stability. I now look forward to assisting financial services institutions in their deeper understanding of these goals and the transformation of operating models needed to achieve this equilibrium."
The EY Financial Services Offices have been recognized by Operational Risk and Regulation, a leading trade publication, as the best overall consultancy four years running and include dedicated teams of prudential supervisory professionals that are made of former senior bank and bank holding company supervisors and industry professionals who closely monitor evolving policies and practices. They provide guidance on the practical implications of regulatory developments, including supervisory directives for governance, risk management and internal controls.
Saidenberg has a Ph.D in Economics from the University of California at Berkeley and a BA in Economics from Vassar College.
EY is a leader in serving the global financial services marketplace
Nearly 35,000 EY financial services professionals around the world provide integrated assurance, tax, transaction and advisory services to our asset management, banking, capital markets and insurance clients. In the Americas, EY is the only public accounting organization with a separate business unit dedicated to the financial services marketplace. Created in 2000, the Americas Financial Services Office practices today include more than 6,500 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.
EY professionals in our financial services practices worldwide align with key global industry groups, including EY's Global Asset Management Center, Global Banking & Capital Markets Center, Global Insurance Center and Global Private Equity Center, which act as hubs for sharing industry-focused knowledge on current and emerging trends and regulations in order to help our clients address key issues. Our practitioners cover many disciplines and provide a well-rounded understanding of business issues and challenges, as well as integrated services to our clients.
With a global presence and industry-focused advice, EY's financial services professionals provide high-quality assurance, tax, transaction and advisory services, including operations, process improvement, risk and technology to financial services companies worldwide.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
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This news release has been issued by Ernst & Young LLP, a member of the global EY organization that provides services to clients in the US.
SOURCE Ernst & Young LLP