Deloitte, one of the Big Four accounting and professional services firms, has appointed Elizabeth Krentzman as head of its U.S. mutual fund practice. The post is newly created.

Company officials said the creation of the post forms part of the three-year expansion of Deloitte's asset management services practice, which Cary Stier leads.

Krentzman re-joined Deloitte in 2007 as a principal in the asset management services regulatory, governance and compliance group. She previously served as the Investment Company Institute's general counsel for three years.

Earlier, Krentzman worked at Deloitte from 1997 to 2004 as principal and national director of the asset management services regulatory practice. Before that, she spent six years with the Securities and Exchange Commission's division of investment management, heading up the Office of Disclosure and Investment Adviser Regulation. Her resume also includes stints with law firms Ropes & Gray, Drinker, Biddle & Reath. Krentzman began her career and Elias, Matz, Tiernan & Herrick.

Deloitte serves as independent auditor to roughly 1,800 mutual funds which collectively have AUM of $2 trillion. Among the top 20 fund families, Deloitte serves as the corporate and/or mutual fund auditor to five of those complexes, and provides business advisory services to 15 of the top 20 complexes.

Deloitte Names Elizabeth Krentzman Asset Management Services U.S. Mutual Fund Leader

Industry luminary and SEC veteran brings 25 years of experience to new role

Company Press Release

NEW YORK, Sept. 6, 2011 -- Elizabeth Krentzman, former Investment Company Institute general counsel, has been appointed to lead Deloitte's U.S. mutual fund practice.

Based in Washington, D.C., Krentzman, a principal with Deloitte Consulting LLP, will oversee the national development and delivery of mutual fund strategies across Deloitte's audit, tax, financial advisory and consulting businesses to mutual fund complexes, boards of directors and service providers. This newly-created position is another strategic step in the three-year expansion of Deloitte's asset management services practice led by asset management services leader Cary Stier.

"Mutual funds have always been a cornerstone of the industry for both institutional and retail investors," said Stier, vice chairman, Deloitte LLP. "But the lessons learned since the economic shakeup in 2008 have taught us that even the stalwart must innovate. Elizabeth's substantial - and exceptional - mutual fund experience enhances our ability to meet emerging marketplace demands and reinforces Deloitte's leadership position in the industry. Her business insights will be invaluable to our clients and our team."

Deloitte's mutual fund practice serves as independent auditor to approximately 1,800 mutual funds, from innovative start-ups to major fund complexes, and represents in excess of $2 trillion in assets under management. Deloitte is the corporate and/or mutual fund auditor to five of the top 20 U.S. mutual fund complexes and provides business advisory services to 15 of the top 20 mutual fund complexes.

"Mutual funds and ETFs help people achieve their life goals, whether they are saving for a house, college or retirement," said Krentzman. "In the current environment, the mutual fund industry has remained stable despite the turbulence in the financial markets. As a result, mutual fund managers can focus on fine tuning their businesses through increased efficiencies, expanded risk management, streamlined operations and advanced technologies. Deloitte is committed to continuing to help the industry flourish, which sits at the heart of all our futures."

Krentzman re-joined Deloitte's asset management services regulatory, governance and compliance group as a principal in 2007 after serving three years as the Investment Company Institute's general counsel. From 1997 to 2004, she was a principal and national director for Deloitte asset management services regulatory consulting practice. From 1991 to 1997, Krentzman was with the Securities and Exchange Commission - Division of Investment Management, leading its Office of Disclosure and Investment Adviser Regulation. From 1987 to 1991, she was an associate with Ropes & Gray. From 1986 to 1987, she was an associate with Drinker, Biddle & Reath. Krentzman began her career as an associate with Elias, Matz, Tiernan & Herrick.

Krentzman holds a J.D. with honors from the University of Florida College of Law where she was a member of the Florida Law Review. She also earned a bachelor's degree from the Gainesville-based school, graduating magna cum laude.

She is an editorial board member of The Investment Lawyer and serves on the advisory board of the SEC Historical Society. Krentzman is admitted to practice law in Washington, D.C. and Florida.

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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