NEW YORK, Jan. 5, 2016 /PRNewswire/ -- Deloitte announced today that Kenny M. Smith, a vice chairman of Deloitte LLP, has been named the U.S. leader of its financial services industry group. Smith will now oversee a team that works with 90 percent of the largest financial institutions across its audit, tax, consulting and advisory businesses and has more than 13,000 dedicated professionals.
A principal with Deloitte Consulting LLP, Smith currently serves as leader of Deloitte's U.S. banking and securities sector and has a 32-year track record in both client service and practice management. He succeeds Robert Contri, who has held the U.S. financial services industry role since 2011 and was recently appointed the global leader of Deloitte Touche Tohmatsu Limited's (DTTL) financial services industry group.
"Kenny has demonstrated a strong commitment to clients by helping them tackle their most difficult challenges, creating opportunity from unforeseen obstacles and accelerating results that last," said Brian Kanter, U.S. Clients and Industries Leader, Deloitte LLP. "His success leading our U.S. banking and securities sector, combined with his broad financial services background, prepares him well to extend his leadership across our FSI practice. I also want to commend Bob Contri for his leadership and growth of the practice over the past four years. I am confident Kenny and Bob will continue to collaborate to best serve our multi-national clients as Bob takes on his new global role."
"The financial services industry has undergone significant transformation over the past few years driven by increased regulatory oversight, additional cyber threats, new technology and shifting consumer behavior," said Smith. "I am proud that Deloitte has been instrumental in assisting our clients in adapting to this changing landscape. Going forward, we expect the industry to innovate at a rapid pace and our focus will be on helping our clients navigate this changing landscape to stay ahead of the curve and execute on their toughest challenges and business needs."
Based in San Francisco, Smith is responsible for Deloitte's four financial services sectors: banking and securities; investment management; insurance; and real estate. His key responsibilities include overseeing the overall strategic direction of the practice, the alignment of resources with clients, team leadership development and succession, and the go-to-market strategies for Deloitte's key businesses. He will also be working directly with some of Deloitte's largest financial services clients to respond to the myriad regulatory, growth, technology and innovation challenges present in today's competitive marketplace.
Since joining Deloitte in 1993, Smith has served in several client, marketplace and leadership positions, including as the client-facing lead to one of the Deloitte's largest, U.S.-based global banking clients. He also has served as the U.S. real estate industry leader for Deloitte Consulting LLP, the regional managing director of Deloitte's consulting practice, and was a member of the Deloitte board council from 2001 to 2003.
A Texas native, Smith earned a bachelor's degree from Texas Tech University and serves on the Rawls College of Business advisory council.
In addition, Deloitte announced that a number of high-powered new professionals have joined Deloitte's U.S. financial services industry team, including:
- Bill Mullaney, formerly the president of MetLife's U.S. business, has become a director with Deloitte Consulting LLP. While at MetLife, he had overall responsibility for and successfully led MetLife's retail life and annuities books of business, as well as their group insurance, corporate benefit funding, and auto and home segments.
- Don Truslow, who recently retired as the chief risk officer of M&T Bank Corporation and formerly the president of the Financial Services Roundtable's Financial Stability Industry Council, will serve as a senior advisor to Deloitte Advisory's regulatory and compliance practice.
- Julie Bernard, formerly the leader of EY's banking and capital markets security practice, has joined the organization as a principal in Deloitte Advisory's cyber risk services practice.
Contri's career at Deloitte and DTTL spans nearly 30 years and includes serving in a variety of leadership and strategic client service roles throughout the financial services area. During his time at Deloitte, he has worked with some of the organization's largest global financial services clients.
"I am honored to have the opportunity to now lead DTTL's global financial services industry group" said Contri. "Clients are facing a rapidly changing global landscape and Deloitte remains well positioned to continue helping them navigate this environment. The U.S. is in very good hands with Kenny."
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including 80 percent of the Fortune 500. Our people work across more than 20 industry sectors to deliver measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society.
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