Weinberger named E&Y CEO and global chairman

EX-ASSISTANT SECRETARY to the US Treasury Mark Weinberger takes the global chairman and CEO role at Ernst & Young.

Weinberger currently sits on the firm's global executive board, its highest governing body, as well as run the global tax practice. Prior to that he sat on the America's executive board and ran the US tax practice.

He served as assistant secretary of the US Treasury under George Bush and was appointed to the US social security advisory board by President Bill Clinton.

Weinberger, who takes up the role in June 2013, received unanimous support from Ernst & Young's global executive board and global advisory council. He succeeds Jim Turley who was appointed to the position in 2001.

Weinberger said: "It is a privilege to be chosen to lead this great organisation. No doubt, these are challenging times as the world faces profound economic, geopolitical and demographic changes.

"Our role is to build trust and confidence in the world's capital markets and help our clients to deliver on their promises to their stakeholders. I am proud of the people at Ernst & Young who tirelessly bring value to our clients by providing quality service and sound advice in this complicated and challenging environment. I am committed to build on the strong foundation we have created."