EY promotes Shawn Smith to Americas leader for financial services

EY has promoted Shawn Smith to Americas financial services organization (FSO) leader.

Based in Charleston, SC, Smith will be responsible for leading a 14,000-person team and driving growth in the financial services sector.

He succeeds Janet Truncale, who was earlier this year named EY Global chair and CEO-elect.

Smith has been at EY for 33 years, leading teams in providing tax advisory services to clients in banking, capital markets, insurance, and wealth and asset management. He most recently served as Americas leader of the FSO tax practice, overseeing a team of more than 2,500 professionals.

Before that, Smith was global leader of the tax technology and transformation practice. Smith was also previously US Southeast market leader for FSO, leading all service lines in the region.

Smith has a master’s degree in accounting and a bachelor’s degree in corporate finance from Clemson University, and is a certified public accountant.

“I am proud to announce Shawn as my successor in FSO. Shawn is a highly seasoned leader with deep financial services market expertise,” Truncale said. “His innovative thinking and focus on the future, passion for clients, and commitment to next-gen talent development make him a strong leader who will continue to build on the strength and success of EY and FSO.”

EY is the third-largest accounting and consulting firm in the United States, with annual revenue of $21.07 billion.

“Now more than ever, financial services companies need a trusted partner to assist them in navigating unprecedented challenges and opportunities,” Smith said. “From building consumer trust, making strategic investments in new technology like AI, to upskilling workforces and creating a more inclusive industry, FSO is providing the strategic council that helps businesses and economies all over the world prosper.”