EY announces that Carmine Di Sibio has been elected the next EY Global Chairman and CEO, effective from 1 July 2019. Di Sibio will succeed current EY Global Chairman and CEO Mark Weinberger, who steps down on 1 July 2019.
Di Sibio is currently serving as EY Global Managing Partner – Client Service, a post he has held since 2013. In this role, he leads the execution of the strategy for EY, which last year achieved nearly US$35 billion in revenues and today has over 270,000 EY people in more than 150 countries around the world. Additionally, Di Sibio has overall responsibility for the four geographical EY areas and four service lines. He has played a critical role in EY’s innovation efforts, including managing EY investment in new technologies in the total amount of US$1billion. He has been one of the key architects of the organization’s acquisitions and alliances strategy, helping to expand EY resources and capabilities in a wide range of new and emerging fields.
Di Sibio also co-chairs the EY Global Diversity and Inclusiveness Steering Committee, which works to maximize the power of different opinions, perspectives and cultural references within the organization. This work is crucial to EY’s strategic priority of building the highest-performing teams in the profession.
Di Sibio joined EY in 1985, and has served as an Advisory and Assurance partner for many of the largest EY financial services accounts. He previously served as Chair of the EY Global Financial Services Markets Executive and Regional Managing Partner for the Americas Financial Services Organization, where he started EY Risk Management and Regulatory Services. Di Sibio is a practicing Certified Public Accountant.
Weinberger says, “Carmine is an outstanding and inclusive leader who has a foundation in audit and in serving the largest EY clients. He is a leader who understands the importance of diverse and inclusive teams, and he knows how to engage people to reach their full potential. I believe the organization has made an exceptional choice, and Carmine is the right EY Global Chairman and CEO in these transformative times.”
Di Sibio added, “I am honored to be chosen to lead this great organization, which I have been part of for over 33 years. The role we play in the capital markets and the work each and every one of the 270,000 EY people do every day to create a better working world are things of which I’m very proud. It’s been a great opportunity to work with Mark and the leadership team on the development and execution of our Vision 2020 strategy over the past six years. I’m excited to build on the significant legacy and strong foundation we have here at EY.”
As EY Global Chairman and CEO, Weinberger led the transformation of EY as it adapted to a rapidly changing market. During his tenure, the organization has achieved an annual compound revenue growth rate of 8.5%, resulting in a 50% increase in revenues, and it added more than 100,000 EY people, including 20,000 data and analytics practitioners and over 2,000 data scientists. Weinberger established the global organization’s purpose of ‘building a better working world’ during his tenure, as he guided the evolution of EY into a purpose-led organization. Within the organization, Weinberger created a culture of high-performing teams and focused on the development of EY people. He also championed increasing diversity at all levels and creating a more inclusive culture, increasing the number of partners who are women and from emerging markets, improving retention rates and establishing a more diverse EY Global Executive. Weinberger was elected as EY Global Chairman and CEO in 2012 and served on the EY Global Executive for the past 12 years.
Carmine Di Sibio biography:
Carmine Di Sibio, EY Global Managing Partner – Client Service, leads the execution of the strategy for EY, which last year achieved nearly US$35 billion in revenues and today has over 270,000 people serving clients in more than 150 countries around the world. Additionally, he has overall leadership responsibility for the four geographical EY areas and four service lines.
In this role, Carmine has spearheaded EY’s innovation efforts, including managing EY investment in new technologies in the total amount of US$1billion over the next two years. He helped to create the EY Global Innovation team to enable EY to redefine how it uses technology to both transform existing services and create new solutions. Additionally, through his role in executing EY’s acquisitions and alliances strategy, he has helped expand EY offerings in a wide range of new and emerging fields.
Before taking his current role in 2013, Carmine held several global operating and leadership positions at EY, using his extensive experience in financial services. Carmine’s global experience has equipped him with a keen understanding of cultures and clients around the world and he is a strong advocate for the power of EY’s global organization.
He co-chairs the EY Global Diversity and Inclusiveness Steering Committee, which works to maximize the power of different opinions, perspectives and cultural references within the organization. This work is crucial to EY’s strategic priority of building the highest-performing teams in the profession.
Since joining EY in 1985, Carmine has served as an Advisory and Assurance partner for many of the largest EY financial services accounts. He previously served as Chair of the Global Financial Services Markets Executive and Regional Managing Partner for the Americas Financial Services Organization (FSO), where he started EY Risk Management and Regulatory Services. He has a foundation in audit and is a practicing Certified Public Accountant.
Carmine is originally from Italy, and emigrated with his family to the United States when he was three years old. He was the first in his family to graduate from college, earning a Bachelor of Arts (BA) in Chemistry from Colgate University, and a Master of Business Administration (MBA) from New York University’s Stern School of Business.
Carmine is married with four children and lives in New Jersey, in the United States. He also serves on the boards of the Foundation for Empowering Citizens with Autism and Family Promise, and is a member of the Board of Trustees of Colgate University.
Mark Weinberger biography:
Mark Weinberger is the EY Global Chairman and CEO. EY is a global leader in assurance, tax, transaction and advisory services. With approximately 270,000 people in more than 150 countries, EY is one of the largest professional services organizations in the world.
In addition to his time at EY, Mark has previously served as the Assistant Secretary of the United States Department of the Treasury (Tax Policy) in the George W. Bush Administration. Mark was also appointed by President Clinton to serve on the US Social Security Administration Advisory Board, which advises the President and Congress on all aspects of the Social Security system. Mark has also held other US government and policy positions, including Chief of Staff of President Clinton’s 1994 Bipartisan Commission on Entitlement and Tax Reform; Chief Tax and Budget Counsel to US Senator John Danforth (R-Missouri); advisor to the National Commission on Economic Growth and Tax Reform; and Commissioner on the National Commission on Retirement Policy.
Mark was co-founder of Washington Counsel, P.C., a Washington DC-based law and legislative advisory firm that merged into Ernst & Young LLP, US, and now operates as Washington Council EY.
Mark plays an active role in the World Economic Forum (WEF), serving as a member of its International Business Council and as a Global Agenda Steward for Economic Progress. He co-chairs the Russia Foreign Investment Advisory Council (FIAC) with Prime Minister Dmitry Medvedev, and serves as Chairman of the International Business Leaders Advisory Council (IBLAC) to the Mayor of Shanghai. He is on the Board of Directors of the Washington DC-based, US Business Roundtable and chairs its Tax and Fiscal Policy Committee. He is also a member of the International Advisory Board of British-American Business, is a member of the International Integrated Reporting Council (IIRC), and is on the Board of Advisors for the American Council for Capital Formation. Mark was a member of President Obama’s Infrastructure Task Force and President Trump’s former Strategic Policy Forum, providing input on how government policy impacts economic growth, job creation, and productivity.
Mark sits on the Board of Directors for Catalyst and is Chair of the Audit Committee, as well as on the Boards of FCLTGlobal (Focusing Capital on the Longterm), The Tax Council and the Bullis School in Potomac. In addition, Mark is a Vice Chair on the Corporate Fund Board at The Kennedy Center for the Performing Arts. He also sits on the Board of Trustees for the United States Council for International Business (USCIB), the Greater Washington Partnership and The Concord Coalition. Mark is also a member of the Board of Trustees for Emory University and Case Western Reserve University.
In December 2012, Mark was presented the prestigious Achievement Award by the Anti-Defamation League. Cornell University honored him in September 2015 with the Robert S. Hatfield Fellowship in Economic Education Award, the highest honor Cornell can bestow on someone from the private sector. The award stands as a platform for the exchange of ideas between the academic and corporate communities. In 2015, Mark received the Tax Council Policy Institute’s Pillar of Excellence Award. The Weatherhead School of Management at Case Western Reserve University honored Mark with the Braden Award in 2017; given to a leader in the professional practice community who has made distinctive contributions to the knowledge and advancement of the discipline of accountancy. In November of 2018, he was awarded the Tax Foundation’s Distinguished Service Award.
Mark holds a BA from Emory University in Atlanta, Georgia, an MBA and Juris Doctor (JD) from Case Western Reserve University in Cleveland, Ohio and a Master of Laws in Taxation from Georgetown University Law Center in Washington, D.C. Mark also has an honorary doctorate from the Kogod School of Business at American University in Washington, DC.
Mark and his wife, Nancy, live in Potomac, Maryland in the US and have four children.