Ernst & Young has appointed a veteran of the firm as the new global head of its banking and capital markets practice.

James Fanning, an international banking professional who has been with the firm since 1970 will take up the new role following his experience working with commercial banks.

Ernst & Young's chairman and CEO James S. Turley called Fanning one of the firm's most experienced international banking partners.

Among his numerous banking roles, Fanning assisted major financial institutions enter new international markets and provided guidance during major international bank acquisitions and for the structuring of joint ventures.