Filling the position is the next step in the firm’s transformation process of separating its consulting and audit businesses.
EY appoints finance high-flyer before split
EY has appointed former General Electric CFO Jamie Miller as its global finance chief and she will become CFO of its proposed public consulting firm once the audit and consulting operations split.
EY Global chairman Carmine Di Sibio said he was excited to have Ms Miller on board for the firm’s transformation.
“We are thrilled to have Jamie as part of our team,” said Mr Di Sibio. “Her skill set, experience in the public markets and business depth will be a crucial asset for our organisation as we undergo this transition.”
EY said Ms Miller brought substantial public company experience including as CFO at both US agribusiness outfit Cargill and General Electric, as well as financial management expertise.
It said her global perspective would be a benefit in helping establish the proposed public consultancy firm.
Ms Miller said she was keen to join EY and recognised the potential of the firm’s transformation.
“I am excited to join EY,” she said. “I believe in the core values, vision and potential of the future company.”
“It is a unique opportunity to be part of what will be one of the most disruptive strategies in any industry this decade.”
Last, EY confirmed it planned to split its consulting practice from its audit business to escape conflict of interest rules that restrict accounting firms from advising companies they audit.
The move would see EY’s businesses split under the titles NewCo, a new corporate entity that would go public, and AssureCo.
AssureCo would keep the EY name along with the current member structure and would become a standalone audit firm.
NewCo would be the expanded consulting operation and would go partially public but still be majority-owned by its partners, according to EY.
Recently appointed global chair and CEO of AssureCo Julie Boland said she was pleased to have Ms Miller joining as they looked to work through the separation.
“EY is proud to announce that Jamie is joining EY as its global CFO,” she said.
“She has a rich portfolio of experience, including working in the big four and the CFO of both private and public companies.”
“Her experience is very relevant, and she will bring great insight into the split that EY is working through.”
EY said it would name additional leaders to several positions across both the proposed post-split organisations in the coming weeks.