Former Federal Reserve Bank of Boston Executive Preston Thompson Joins Ernst & Young LLP's Financial Services Office

NEW YORK, May 12, 2011 /PRNewswire/ -- Ernst & Young LLP's Financial Services Office announced today that Preston Thompson has recently joined its Advisory practice as an Executive Director.  

Thompson brings with him nearly 20 years of banking examination and regulatory policy experience, including serving as the Federal Reserve System's nationwide coordinator for Basel II implementation assessments since the issuance of the final US Basel II rule in 2007. Concurrent with his Basel responsibilities, Thompson was active on multiple initiatives to develop and implement supervisory strategies for large complex and systemically important banking organizations.  

"We are delighted to have someone of Preston's experience and caliber joining Ernst & Young," said Hank Prybylski, Advisory Leader, Financial Services, Ernst & Young LLP. "His extensive knowledge of the financial services regulatory landscape will be invaluable to our clients as they continue to strengthen risk governance principles and supporting business practices and systems."

As the financial regulatory environment continues to change and organizations mobilize and adapt in response, Thompson joins a growing number of former senior bank supervisors who provide Ernst & Young's financial services clients with practical guidance on the implications of supervisory directives.

Thompson has an MBA in finance from Heriot-Watt University, Edinburgh, Scotland, and a BS in psychology and business from University of Alabama.  

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 practices today include 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 cover 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.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 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.

For more information, please visit www.ey.com

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.

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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