Press release

Ernst & Young Ltd. names Pete Cangany as its Senior Partner in Bermuda

New York, 16 April 2014

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Ernst & Young Ltd. announced today two leadership changes effective 1 July 2014. Pete Cangany has been named its Senior Partner in Bermuda, and Gil Tucker has been named Chairman of the firm.

Since January 2013, Cangany has served as Insurance Leader for the EY Bahamas, Bermuda, British Virgin Islands and Cayman Islands region, and he will continue to lead the regional insurance teams, in addition to his new responsibilities. He has more than 30 years of experience serving insurance clients and coordinating audit services for global financial services organizations.

As Senior Partner of Ernst & Young Ltd., Cangany will focus on continuing to build the firm’s presence in Bermuda and strengthening its client delivery teams and capabilities across the insurance, wealth and asset management and banking sectors – while fostering strong ties with business leaders, community organizations and other key stakeholders in the market.

“Over the past several years, we have built an extraordinarily strong and high-performing leadership team in Bermuda, while expanding the range of services and expertise we can provide to our clients,” said Cangany. “We are well-positioned to help our clients access the market strategically and capitalize on new growth opportunities.”

During his career, Cangany has been responsible for coordinating audit services for companies with a wide range of size and complexity, including FORTUNE 100 financial services organizations with global operations, US domestic insurance enterprises and a number of Bermuda-based global reinsurance companies.

“We are pleased to have Pete assume his new role in the Bermuda firm,” added Dan Scott, Regional Managing Partner for the EY Bahamas, Bermuda, British Virgin Islands and Cayman Islands region. “It’s an exciting time in the market, as our clients seek to effectively compete and grow. Pete has been instrumental in helping our clients in the region respond to challenges and operate more effectively. Gil will continue to champion and develop EY’s brand with a particular focus on public policy matters affecting the Bermuda marketplace. Having Pete in this role, paired with Gil’s continued guidance, will allow EY to further coordinate expertise globally providing superior customer service locally, an approach that has been key to our continued performance in the Bermuda market.”

Prior to joining the Bermuda firm, Cangany served as Coordinating Partner for some of the largest insurance and reinsurance clients of Ernst & Young LLP. He began his career in the firm’s Indianapolis office and has also worked in its Seattle, San Antonio and New York offices.

EY is a leader in serving the global financial services marketplace

Nearly 35,000 EY 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, EY 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 6,500 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.

EY professionals in our financial services practices worldwide align with key global industry groups, including EY'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, EY’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.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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This news release has been issued by Ernst & Young Ltd., Bermuda, a member of the global EY organization serving clients in Bermuda.