Treasurer SpotlightCareer MovesFirst female CEO hires for KPMG and Deloitte

First female CEO hires for KPMG and Deloitte

Lynne Doughtie has been announced as KPMG’s new US CEO and chairman, closely following the hire of Cathy Engelbert for the same position at Deloitte.

Lynne Doughtie has been announced as KPMG’s new US CEO and chairman, closely following the hire of Cathy Engelbert for the same position at Deloitte.

Two of the “Big Four” banks that dominate the professional financial services industry have appointed female chief executives recently, both having worked at their respective firms for over three decades. Being a part of both companies for so long, Doughtie and Engelbert have seen their firms move from being largely male dominated workforces, to being two of the best companies for women to work for.

Previously in charge of KPMG’s US consulting practice, Doughtie will move on to serve a five year term as CEO and chairman from 1 July this year. According to an anonymous KPMG insider, the reason for Doughtie’s appointment is due to the consulting practice incurring revenues of over $2.65 billion in 2014 and becoming the fastest growing part of KPMG’s US business under her leadership.

Doughtie started at KPMG in the Richmond audit office and spoke more talks about her progress in an interview with the Washington Post. “The focus on retention and advancement has led more women in the profession to achieve that top spot,” Doughtie told the Washington Post. She also mentioned that supportive male colleagues are the reason she has advanced within the company as they “championed her within the organisation.”

At the end of last month, Engelbert was appointed as the first female CEO for Deloitte. She also told the Washington Post in an interview that a “key to my success was that I found male mentors and male sponsors. I think some women are afraid to say that.”

Engelbert told the Post about how she believes times are changing for the financial industry as “over the last year, 66 percent of our hires were women and minorities. This is a total imperative for us. In the ‘90s, about 50 percent of our hires were women, but they represented less than 10 percent at the partner level.

The appointment of Doughtie and Engelbert at CEO level at top banks, highlights that more women are  reaching high positions within the finance industry.

Related Articles

This week's industry careers update

Career Moves This week's industry careers update

6d The Global Treasurer
This week's industry careers update

Career Moves This week's industry careers update

2w The Global Treasurer
Finastra hires CRO from Black Knight Financial Services

Career Moves Finastra hires CRO from Black Knight Financial Services

1m The Global Treasurer
Crown Agents Bank appoints Richard Weald as CTO

Career Moves Crown Agents Bank appoints Richard Weald as CTO

1m Laura Noble
Abiomed to appoint Todd A. Trapp as CFO

Career Moves Abiomed to appoint Todd A. Trapp as CFO

2m The Global Treasurer
PJSC "Magnit" announces CFO appointment

Career Moves PJSC "Magnit" announces CFO appointment

2m The Global Treasurer
Investcorp appoints Jan Erik Back as CFO

Career Moves Investcorp appoints Jan Erik Back as CFO

2m The Global Treasurer
3M names Sarah Grauze treasurer and vice president of finance

Career Moves 3M names Sarah Grauze treasurer and vice president of finance

2m Victoria Beckett