Patrick Henry Named New Leader of Deloitte's Investment Management Practice in US

Henry succeeds Cary Stier, who takes the reins of global practice

News provided by

Aug 07, 2014, 10:15 ET

NEW YORK, Aug. 7, 2014 /PRNewswire/ -- Deloitte announced today that Patrick Henry, a partner with Deloitte & Touche LLP, has been appointed vice chairman and leader of the cross-functional investment management practice in the United States. He succeeds Cary Stier, who has expanded his role and will now lead Deloitte Touche Tohmatsu Limited member firms' investment management practice globally.

In his new role, Henry will be responsible for the development and implementation of key sector initiatives across Deloitte's audit, tax, consulting and advisory businesses and will work with senior management of the organization's leading clients.

With 25 years of experience at Deloitte, Henry serves some of the biggest clients in the investment management, banking and securities, and real estate industries. For six years, Henry was based in the firm's Hong Kong office and led Deloitte's Asia-Pacific financial services industry practice. During this time, he also led the Deloitte member firm's Greater China investment management practice. Henry also has extensive experience in U.S. Securities and Exchange Commission reporting (including initial public offerings) and in serving public companies with significant global operations. He is a licensed certified public accountant in New York and New Jersey.

"Patrick's deep sector knowledge and client service experience position him well to lead investment management into the future," said Bob Contri, vice chairman of Deloitte LLP and the national industry leader of Deloitte's financial services group.

"He has important shoes to fill — during Cary's six-year tenure, the investment management sector has been one of the fastest-growing practices at Deloitte and has expanded to now include four distinct client practice areas in the mutual funds, hedge funds, private equity and private wealth spaces. Under Cary's leadership, the sector has increased its marketplace presence and enhanced its brand through marquee events and research."

Henry and Stier will also be working closely when it comes to serving clients in the U.S. market, especially on those companies looking to grow internationally.

Stier was named as the national managing partner of the U.S. investment management practice in 2008 and has 24 years of public accounting experience; he has also served in a variety of strategic client service roles. He is currently chairman of Deloitte's U.S. retirement committee, where he has fiduciary responsibilities for the defined contribution and defined benefit plans.

In addition to their new leadership positions, both Henry and Stier will also keep their client-focused roles.

"Cyber threats, data, technology, managing risk and the pace of regulatory change are some of the key focus areas we see today in the investment management industry," said Henry. "These are also areas that investors, regulators and directors are now increasingly asking about. My vision is that Deloitte leads from the front — not only to develop solutions to these evolving risks, but also to help our clients peer around the corners to spot the unforeseen risks of tomorrow. Deloitte's investment management practice will focus on helping our clients on this front."

About Deloitte's U.S. Investment Management Practice

Deloitte's investment management practice offers a deep bench of talent in audit and tax, valuation, anti-fraud, governance and oversight, regulatory compliance, risk management, technology and operations, and product structuring. Deloitte works with each of the top 30 global investment managers, which includes providing services to 16 of the top 20 mutual fund managers, 15 of the top 20 U.S.-based private equity firms and 10 of the top 20 U.S. hedge funds.

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Logo - http://photos.prnewswire.com/prnh/20120803/MM52028LOGO-a

SOURCE Deloitte