NEW YORK, March 27, 2017 /PRNewswire/ -- Deloitte announced today the appointment of Scott Baret as a vice chairman of Deloitte LLP and the leader of its banking and securities practice, which provides a broad spectrum of services to each of the banks and securities firms listed on the Fortune 500.
Baret, partner, Deloitte Risk and Financial Advisory, Deloitte & Touche LLP, has more than 26 years of experience focused on advising Deloitte's largest domestic and international banking and securities clients.
He succeeds Kenny Smith, a vice chairman of Deloitte LLP, who was named to the role in 2014 and retains his position as Deloitte's national financial services industry leader. Smith also spearheads a number of significant client and relationship efforts.
"I am honored to lead a team that works with more than 90 percent of the 50 largest banks in the marketplace," said Baret. "Given the depth and breadth of Deloitte's services, I look forward to working with our clients to solve some of their thorniest issues. There's no shortage of those right now, be it new technology enhancements to protect critical assets or drive growth and efficiency, marshalling the workforce of the future, or navigating the new regulatory and tax landscape coming out of Washington."
Baret will lead the overall strategic direction of the sector as well as its go-to-market strategies and resources. Banking and securities represents the largest sector by both revenue and headcount at Deloitte, with more than 6,000 client-focused professionals.
Most recently, Baret led large client projects at Deloitte related to the current financial environment in the areas of operations, risk management and governance. These projects have focused on transforming the way boards and organizations approach risk management and governance, which often includes evaluating the use of data from trade operations, finance and compliance.
Baret formerly led Deloitte Risk and Financial Advisory's U.S. banking and securities practice, as well as its global financial services industry practice globally in the risk and financial advisory business.
A frequent commentator, Baret has contributed to Deloitte's reports on board governance, structured products and a series on the new financial marketplace following the financial crisis. He has also contributed to whitepapers from the Group of Thirty as well as the Institute of International Finance, covering such topics as conduct risk, risk culture, risk management and governance.
Baret earned a bachelor's degree from Gettysburg College in Pennsylvania and a master's degree in finance at Columbia University's business school.
"It's a transformative moment in the banking sector," said Smith. "Scott has demonstrated a deep commitment to our clients and our people, and I'm confident the sector will continue to thrive under Scott's leadership."
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 and more than 6,000 private and middle market companies. 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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