Mr Larocca will assume the role from 1 July, taking over from incumbent CEO and regional managing partner Tony Johnson, who announced his departure earlier this year after more than six years at the helm.
Mr Larocca first joined EY in 2003 and became an infrastructure advisory partner in 2006, before taking over as strategy and transactions managing partner in 2016.
He has been a member of the EY Oceania Executive Leadership Team for the last five years and has been an active member of a number of Asia-Pacific and global leadership committees within the firm.
“We have great people at EY and I feel privileged to have been selected to lead our firm in Oceania,” Mr Larocca said. “Tony will leave the EY Oceania in a fantastic position, and with a positive and distinctive culture.
“He has overseen a period of tremendous growth and stability. I plan to build on that legacy and the strong momentum Tony has overseen through his leadership.”
Announcing Mr Larocca’s appointment, Asia-Pacific area managing partner Patrick Winter said the incoming chief executive’s experience in the region would make him the perfect candidate.
“David’s years of experience in the market working with some of our biggest clients while leading a diverse team of more than 800 professionals across nine offices in the fast-growing strategy and transactions service line make him the perfect choice to take over the reins from Tony,” Mr Winter said.
“As we look to the future, EY Oceania is extremely well placed to continue to play a critical role in Asia-Pacific and as part of our global organisation.
“I look forward to working with both Tony and David, as David transitions into the role and have no doubt that he will lead our Oceania business from strength to strength.”
Mr Johnson, who will leave the firm after overseeing a doubling of its revenue from $1.1 billion in 2014 to $2.1 billion in 2020, said Mr Larocca was an “excellent choice” to lead the firm into the future.
“David has been a great colleague and leader in EY for many years, and will be able to hit the ground running as the new CEO,” Mr Johnson said.
“Not only is he well respected by our people and our clients, but he is also an outstanding advocate for diversity and inclusion, having championed programs to encourage more women into the profession.
“He is an excellent choice to lead EY as it continues its purpose to build a better working world.”
Speaking on Mr Johnson’s departure, Mr Winter thanked him for his service to the firm.
“Tony has been an outstanding leader in Oceania and will be sorely missed by our clients and our people,” Mr Winter said.
“On behalf of EY’s Asia-Pacific and Global Leadership teams, I thank Tony for his years of service and wish him well as he moves to the next phase of his career.”
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John Buckley is a journalist at Accountants Daily.
Before joining the team in 2021, John worked at The Sydney Morning Herald. His reporting has featured in a range of outlets including The Washington Post, The Age, and The Saturday Paper.