Four Former Regulators Join Ernst & Young's Regulatory Network

NEW YORK, Feb. 16, 2012 /PRNewswire/ -- Stefan Walter, former Secretary General of the Basel Committee on Banking Supervision (BCBS) is to join Ernst & Young's global network of regulatory and supervisory professionals in the United States. Stefan will be the fourth senior regulator to join Ernst & Young in the last few months, following Thomas Huertas, Alvir Hoffmann and Hidekatsu Koishihara, in the United Kingdom, Brazil and Japan, respectively.   After long, distinguished careers as regulators, all four will work with global financial services clients to help shape their business models to the new regulatory and risk environment.

As a Principal within Ernst & Young's Financial Services Regulatory Management practice, Mr. Walter will be responsible for leading the Global Bank Supervisory and Regulatory Policy network. In his role, Mr. Walter will share perspectives on emerging regulatory issues and related business challenges with C-suite client executives within the global financial services industry.

During his five year tenure as Secretary General of the BCBS, Mr. Walter oversaw the most fundamental transformation of global bank regulation in decades, including the Basel III capital and liquidity reforms. Mr. Walter also was a member of the Financial Stability Board, helping develop global standards for systemically important financial institutions. Additionally, Mr. Walter spent 15 years at the Federal Reserve Bank of New York (FRBNY), where his work included leading domestic and international bank supervisory and regulatory policy development initiatives and managing FRBNY's examination teams for market risk, liquidity risk and counterparty credit risk.

"Global regulatory reforms present serious and complex challenges for financial services firms as they grapple with the realities of working in fragile and volatile economies," said Bill Schlich, Ernst & Young Global Banking & Capital Markets Leader. "Stefan, Tom, Alvir and Hidekatsu each played important roles in shaping the current regulatory landscape. Now our clients will have access to the special skills and strategic insights that each new member brings."

Dr. Huertas joins Ernst & Young as a Partner in the Financial Services Risk Management practice in London. Previously, Dr. Huertas was Alternate Chair of the European Banking Authority and a Member of the Executive Committee at the UK Financial Services Authority. 

Based in Brazil, Mr. Hoffmann will serve as Senior Advisor of Ernst & Young Terco Financial Services. Mr. Hoffmann's areas of experience include banking regulation and supervision specific to global systemically important financial institutions (G-SIFIs).

A former regulator in Japan's Ministry of Finance, Hidekatsu Koishihara joins Ernst & Young as Executive Director. He will focus on regulatory compliance and risk management advisory services to financial clients in Japan.

Schlich says, "These additions significantly strengthen the firm's already robust global network of regulatory advisory professionals who are focused on helping financial institutions with a wide range of regulatory and compliance issues."

Dr Thomas Huertas has published extensively on financial issues, including his recent book, Crisis: Cause, Containment and Cure.

About the Ernst & Young Banking & Capital Markets Center
In today's globally competitive and highly regulated environment, managing risk effectively while satisfying an array of divergent stakeholders is a key goal of banks and securities firms. Ernst & Young's Global Banking & Capital Markets Center brings together a worldwide team of professionals to help clients achieve their potential – a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help clients meet their goals and compete more effectively. It's how Ernst & Young makes a difference.

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SOURCE Ernst & Young