Tucker, Cangany earn promotions at E&Y

Gil Tucker has been named chairman of Ernst & Young.

Pete Cangany will become senior partner with Mr Tucker becoming chair.

Both moves are effective July 1, 2014.

Since January 2013, Mr 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., he 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,” Mr Cangany said. “We are well-positioned to help our clients access the market strategically and capitalize on new growth opportunities.”

During his career, Mr 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.

 Dan Scott, regional managing partner for the EY Bahamas, Bermuda, British Virgin Islands and Cayman Islands region, said: “We are pleased to have Pete assume his new role in the Bermuda firm.

“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.