Ernst & Young LLP Adds Partners to Further Expand Its Asset Management Tax Practice

NEW YORK, July 12, 2012 /PRNewswire/ -- Ernst & Young LLP announced today the appointment of Julie Canty and Carlos A. Schmidt as partners in the firm's Asset Management Tax practice. They will be the sixth and seventh new senior professionals to join the expanding group in the US this year to provide clients with insights and perspective on issues relating to tax, regulation and compliance for the asset management industry.

"Julie and Carlos bring with them deep knowledge that will broaden our US experience and leadership in asset management," noted Michael Serota, Global Hedge Fund Services co-leader and Global Asset Management tax leader for Ernst & Young. "Their collective experience will strengthen our team's ability to help clients grow their businesses and respond to new tax regulatory changes. Their addition to Ernst & Young LLP underscores our continuing investment and growth in the firm's asset management industry practice across the US."

Canty was formerly with Deloitte Tax LLP's New York hedge fund group, where she focused on tax advisory, compliance and structuring fund clients. Prior to her association with Deloitte, Canty was a principal with Eastpointe Management LLC, a spinoff of Continuation Investments Group, Inc., where she was the fund controller.

Canty is also a former assistant controller for Oak Hill Capital Management, Inc., and was a tax manager with Arthur Andersen LLP. A certified public accountant, she earned her bachelor's degree in business administration from the University of Iowa.

Schmidt was with the Passthroughs group of the National Tax Office of Deloitte Tax LLP. He specialized in partnership tax matters with a specific focus on the formation and operation of hedge and private equity funds. Prior to joining Deloitte Tax LLP, Schmidt was Director of Tax for Highbridge Capital Management, LLC, a leading alternative asset management firm, with assets under management of over $20 billion. There he helped structure a number of credit and equity funds and oversaw cross-border investment tax planning. Schmidt was also responsible for all fund tax reporting and all financial statement matters pertaining to ASC 740.

In addition, Schmidt is a former sell-side research analyst at Goldman Sachs, where he was a member of Global Investment Research covering the lodging sector. He is a guest lecturer at the Practicing Law Institute, the Georgetown University Law Center and the Wharton School of Business, as well. 

A certified public accountant, Schmidt received his master of business administration in finance from the Wharton School of the University of Pennsylvania and his master's in taxation and bachelor's in accounting from the University of Southern California.

About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com.

Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.

Ernst & Young is a leader in serving the global financial services marketplace
Nearly 35,000 Ernst & Young 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, Ernst & Young 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 today includes more than 4,000 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.

Ernst & Young professionals in our financial services practices worldwide align with key global industry groups, including Ernst & Young'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 span 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, Ernst & Young'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.

It's how Ernst & Young makes a difference.

This news release has been issued by Ernst & Young LLP, a US client-serving member firm of Ernst & Young Global Limited.

SOURCE Ernst & Young LLP

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