EY nominates leaders of its forthcoming split business
EY has nominated Carmine Di Sibio and Julie Boland to lead the firm’s advisory and audit businesses, respectively, ahead of a 13,000-partner vote on the momentous split of the global accounting and consulting firm in early 2023.
EY’s global governance council and global executive earlier this week unanimously voted in favor of the appointments, which a company press release described as a “significant milestone in the separation process.”
Di Sibio, chair and CEO of EY Global, and Boland, chair of EY US and managing partner of EY US and the Americas region, will stay in their current roles until the planned spin-off of the consulting/tax business is completed in late 2023. Di Sibio would become global chair and CEO of the consulting business, which is expected to be a public company, while Boland would become global chair and CEO of the audit business, which is expected to remain a partnership.
“This really sets the foundation for us to move forward,” Trent van Veen, presiding partner of the firm’s global governance council, commented to Bloomberg about the appointments. “We are going to change the landscape of professional services.”
Based in New York, Di Sibio has been at EY since 1985 and has led the global network of independent member firms since 2019. He guided EY Global through the pandemic to its highest revenue growth in two decades, reaching 13.7% and $45.4 billion in revenue in FY22.
Di Sibio previously served as global managing partner for client service, chair of the global financial services market executive, and financial services managing partner of the Americas region. Earlier in his career he was an advisory and assurance partner at EY US, focusing on large financial services accounts.
Di Sibio has an MBA from New York University, a bachelor’s degree in chemistry from Colgate University, and is a certified public accountant.
Based in Cleveland, Boland has been at EY since 2010 and has led EY US and the Americas region for six months. She succeeded Kelly Grier after the latter served a single term and opted not to seek re-election – with the principal cause being an alleged power struggle with Di Sibio.
Boland has 30 years of experience in professional services, financial services, and finance function leadership. In her previous roles at EY she headed the US Central region and the Cleveland office.
Prior to joining EY, Boland was CFO of Flight Options, the second-largest private aviation company in the US, and CFO of Oglebay Norton, a Cleveland-based mining company. She was also previously a VP at Goldman Sachs and JP Morgan. Boland began her career as an accountant at PwC US.
She holds an MBA from the University of Chicago, a bachelor’s degree in accounting from the University of Vermont, and is a certified public accountant.
