Ernst & Young Names Leader to Succeed Turley

Mark Weinberger has been elected to succeed James Turley as CEO and global chairman of Ernst & Young (FY11 gross revenue of $7.5 biillion), the firm announced in mid-January.

Weinberger, 50, joined the firm’s Washington, D.C. office in 1987 and has held many senior leadership roles. He sits on the Global Executive, the firm’s highest governing body, and is the global head of tax. He previously served on the Americas Executive and U.S. Operating Committee and was the America’s head of tax. He also served as Assistant Secretary of the U.S. Treasury (Tax Policy) under President George W. Bush

Turley, CEO since 2001, plans to retire June 30. The firm says that under his leadership, Ernst & Young established itself as “the most globally integrated organization in our profession in mindset, actions and structure.” The firm employs 152,000 people in 144 countries. Of Weinberger’s selection, Turley said, “Mark has a regulatory mindset which will ensure Ernst & Young maintains strong connections with the many audit regulators and other officials with whom we engage globally.”

Weinberger says, “It is a privilege to be chosen to lead this great organization. No doubt, these are challenging times as the world faces profound economic, geopolitical and demographic changes. Ernst & Young is well positioned to play a constructive role assisting our clients, regulators and other stakeholders shape the future.”