Michael F. Mundaca Rejoins Ernst & Young LLP

WASHINGTON, Aug. 18, 2011 /PRNewswire/ -- Ernst & Young LLP today announced that Michael F. Mundaca will return to the firm from the United States Department of Treasury, where he was most recently Assistant Secretary for Tax Policy.

Mundaca will co-lead the National Tax Department with Eric Solomon and be based in Washington, DC.  He will also help lead the EY's Americas Tax Center, launching in October 2011 as a virtual network integrating key global and Americas tax functions to provide clients with highly efficient, seamless cross-border tax services.

Mundaca is the third former Assistant Secretary of Tax Policy to work in tax services at Ernst & Young, joining Eric Solomon and Mark Weinberger, who both served in this U.S. Treasury position in previous administrations.  The firm's National Tax Department has invested in building a team of tax professionals with experience serving government at the senior level.

"On behalf of the Americas Tax Practice, it is my sincere pleasure to welcome Michael back to Ernst & Young," said Kate Barton, Americas Vice Chair of Tax Services, Ernst & Young LLP.  "After having served at Treasury in three Administrations, Mike will be instrumental in providing counsel, insight and perspective to help our clients at an economic crossroads.  His knowledge and experience will help clients understand the issues and make the right decisions.  Eric and Michael will make an incredible team to lead our National Tax Practice."  

Mundaca joined the Treasury Department for the second time in July 2007 and served as Deputy Assistant Treasury Secretary for International Tax Affairs.  He was appointed by President Barack Obama in March 2010 to be Assistant Secretary for Tax Policy and served in that position until May 2011.  During his time at Treasury, Mundaca was involved in the formulation of tax policy, tax treaty negotiations and the issuance of regulatory guidance.  

From 2002 to 2007, Mundaca was a partner in the International Tax Services group of Ernst & Young's National Tax Department, in Washington, D.C.  His practice focused on cross-border planning and structuring and international legislative and regulatory affairs. 

From 1997 to 2002, Mundaca served in the Treasury Department's Office of Tax Policy, ultimately as Deputy International Tax Counsel, as well as Senior Advisor on Electronic Commerce. He was the principal attorney responsible for issues involving transfer pricing, source-of-income, international shipping, expatriation, Latin American tax treaties, and possessions taxation.  He participated in the negotiation of U.S. income tax treaties, and represented the United States in international tax forums, including the OECD, and in discussions with the European Union.  Before joining Treasury for the first time, Mundaca was an associate at Sullivan & Cromwell, a law firm in New York City.

"Tax policy and tax reform will continue to be on the front burner in Washington," said Mark Weinberger, Global Vice Chair—Tax, Ernst & Young.  "Michael has done an exceptional job in government and has established himself as a true leader in the profession in the US and overseas. I have worked with Michael in government and in private practice; he is a great leader and consummate professional."

Mundaca received his B.A. in philosophy and physics from Columbia University and a M.A. in philosophy from the University of Chicago.  He received a J.D. from the University of California, Berkeley, School of Law (Boalt Hall), where he was Senior Executive Editor of The California Law Review and a member of the Order of the Coif. He also has an LL.M. in taxation from the University of Miami.

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SOURCE Ernst & Young