Cathy Engelbert has been made the new chief executive of Deloitte LLP – Deloitte’s US branch.
From 11 March, Engelbert will be the first female chief executive of a major US accounting firm, where she will take the helm for four years.
She joined Deloitte LLP in 1986 and currently heads up the firm’s auditing division.
She also serves on the Financial Accounting Standards Advisory Council, which advises the Financial Accounting Standards Board – a US rule maker – on strategic issues.
Engelbert takes over from Frank Friedman who has been serving as interim chief executive since August after the departure of Joe Echevarria.
“Cathy has a strong track record of advising some of the firm's leading clients, and working with regulators to advance our industry-leading audit practice,” said Punit Renjen, currently chairman of the board of Deloitte LLP.
“I’m deeply honoured to lead Deloitte,” said Engelbert.
“I look forward to collaborating with all our people to continue to lead our profession in quality and innovation. Together, we make an impact that matters every day for our clients, the capital markets, communities and society.”
Deloitte LLP also appointed Mike Fucci – who has been with the company for over 30 years – to chairman of the board. He currently leads the firm’s consulting services.
“I am humbled by this rare privilege to represent my colleagues as chairman of the board,” said Fucci. “I appreciate the full scope of this responsibility, and I look forward to leading our board of directors in executing our charter of governance and oversight.”
Deloitte LLP is the US branch of Deloitte Touche Tohmatsu Limited, the UK private limited company known commonly as Deloitte.