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Article headingConnectApril 2015

The magazine for EY alumni

Sarah Kaussbuilding a better bottle and a greener world at S’well

Rich Jonesspeaks his mind on veterans’ affairs

Jimmy Bargea starring role at Lionsgate

Jennifer Cabalquintoplaying full court with the NBA’s Golden State Warriors

Steve Howe and Kelly Griertalk about the EY people promise

Frank Mahoney and Tom Houghwelcoming EY’s newly named and recently retired Vice Chairs of Assurance

Building better boardsCorporate board directors and EY alumnaeOlivia Kirtley,Betsy RafaelandBarbara Stymiestsound off on strategy, digital transformation, cybersecurity, diversity and other top board matters.

©2015 EYGM Limited. All Rights Reserved. ED0116

Source: Global Gender Gap Report 2014, World Economic Forum

Stephen R. Howe, Jr. EY Americas Managing Partner and Managing Partner, Ernst & Young LLP (US)

As you read the stories of some of EY’s amazing alumni in this issue, you will also notice a theme: EY’s desire to work with our alumni, as well as our clients and communities, to help build a better working world.

In our cover story, we talk with Olivia Kirtley, Betsy Rafael and Barbara Stymiest about the issues they face as corporate board members. They share a desire to make a positive difference and to serve as role models, especially for women. That goes hand-in-hand with a number of EY initiatives. For example, to support our alumni serving on boards, we’ve created the EY Center for Board Matters, which engages with boards, audit committee members and investors. And to promote women in the workplace, we recently launched Women. Fast forward, through which EY will act as a catalyst to accelerate the closing of the global gender gap.

I think you’ll enjoy learning about Sarah Kauss, founder and CEO of S’well, one of Fortune’s “40 under 40,” and our first alumna selected for EY’s Entrepreneurial Winning Women program. This program identifies high-potential women entrepreneurs whose businesses show real potential to scale — and then helps them do it.

You’ll hear from alum Rich Jones, Executive Vice President, General Tax Counsel and Chief Veteran Officer at CBS, about his passion for improving the lives of disabled veterans. And we’ll share some ways EY is helping this special group.

We introduce you to two recently appointed EY leaders, Kelly Grier, Americas Vice Chair — Talent, and Frank Mahoney, Americas Vice Chair — Assurance, and say farewell and thank you to Tom Hough, Frank’s immediate predecessor. We deeply appreciate the extraordinary breadth of Tom’s contributions to EY over his 37-year career. Finally, you’ll meet Alumni Council members Adrienne White and Kim McGarry and learn what drives them to strengthen the alumni community.

Every day, I am inspired by knowing and working with such an exceptional group of EY people and alumni. I hope you share my belief that together we are making a difference, and that we can, in fact, build a better working world.

Thank you for all you are doing on behalf of EY.

Building a better working world …

Together

@SteveHoweEY

Connect April 2015 1

https://twitter.com/SteveHoweEY

In this issue 04On the coverStrategy needs to take center stage in the boardroom, say seasoned corporate directors Betsy Rafael, Olivia Kirtley and Barbara Stymiest. We convened the three EY alumnae at Bloomberg’s corporate headquarters in New York City for a spirited discussion of some of the hot topics facing boards today, including digital transformation, cybersecurity and board diversity. They also provide some tips for those looking to join a board.

14 20 28 32 40 44

Building better boards

2 alumni.ey.com

Features14 A fair challenge Get to know Frank Mahoney, EY’s new Vice Chair — Assurance, and find

out why he thinks the audit profession is more vital now than ever.

17 Closest to the pin As Frank Mahoney settles into his new role, we welcome his predecessor,

Tom Hough, as one of our newest alumni. Find out what Tom’s up to at the United States Golf Association.

20 A thirst for excellence Can a reusable water bottle be both fashionable and environmentally

friendly? Discover why alumna Sarah Kauss’s S’well bottle has been described as “eco-chic.”

28 It all comes down to people Kelly Grier, EY’s new Americas Vice Chair — Talent, and Steve Howe,

Americas Managing Partner, talk about the power and importance of EY’s people culture.

32 Starring roles While alumni Jimmy Barge and Jennifer Cabalquinto are CFOs of two

very different organizations — he’s with Lionsgate and she’s with the NBA’s Golden State Warriors — they share the drive to entertain.

40 A call to action CBS exec, EY alum and wounded military veteran Rich Jones shares his

point of view on the plight of many of our nation’s veterans.

44 Alumni council members in focus Chicago Alumni Council member Kim McGarry and Atlanta Council

member Adrienne White discuss options trading, half-marathons and their desire to build a strong EY alumni family.

50 Alumni Relations around the world Travel with us to Argentina, one of the world’s top developing nations,

and learn what they mean when they say, “Alumni, ser parte siempre.”

News54 Alumni news and new alumni snapshots Highlighting recent achievements of your friends and colleagues

59 Events gallery A snapshot of recent alumni events throughout the Americas

EY | Assurance | Tax | Transactions | Advisory

About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.

EY Canada refers to Ernst & Young LLP, which is a client-serving member firm of Ernst & Young Global Limited operating in Canada.

EY Argentina refers to the client-serving member firms of Ernst & Young Global Limited operating in Argentina.

© 2015 EYGM Limited. All Rights Reserved. Proprietary and confidential. Do not distribute without written permission.

EYG no. QQ0391 ED 0316.

The opinions of third parties set out in this publication are not necessarily the opinions of the global EY organization or its member firms. Moreover, they should be viewed in the context of the time they were expressed.

In line with EY’s commitment to minimize its impact on the environment, this document has been printed on paper with a high recycled content.

April 2015ConnectThe magazine for EY alumni

Editor-in-Chief: Jeff AndersonManaging Editor: Jay SeitherWriters: Jeff Anderson, Anne Lampert, Jay Seither, Eboni ThomasCreative Director: Donald BattingContributing Editor: Ellen LaskPhotography: Jon Gayman, Marcus Krause, Chris Savas, Robert Thomas

Connect magazine is printed in the US by Great Lakes Integrated.

For further information on Connect, please contact Jeff Anderson, Americas Director, Alumni Relations, at [email protected] or +1 404 817 4875.

50Connect April 2015 3

EY alumnae Olivia Kirtley, Betsy Rafael and Barbara Stymiest have truly scaled the corporate ladder. They serve or have served in the C-suites of many of the world’s top business organizations. And together, they have dozens of years’ experience serving on the boards of leading companies. We wanted to explore with them what they are seeing in the boardroom today.

Building betterThree EY alumnae discuss board service and their roles as women in business

We convened a half-day session with our three EY alumnae at Bloomberg LP’s world headquarters in Manhattan. Mark Manoff, EY Americas Vice Chair and EY Center for Board Matters leader, facilitated. Joining the conversation were Steve Howe, EY Americas Managing Partner, and Karyn Twaronite, EY Global Diversity & Inclusiveness Officer. Our EY Center for Board Matters is on the verge of entering into an exciting new global sponsorship with Bloomberg Media that will amplify the Center’s brand around the world as well as with board and audit committee members.

• What is job #1 for boards?

• How can boards best evaluate their performance?

• What is the role of the board in meeting such digital threats as cybersecurity?

• Why should diversity and inclusiveness remain top of mind?

• What is the best advice for someone who is considering participation on a board?

Mark Manoff Karyn TwaroniteSteve Howe

words: Anne Lampert, Jay Seither photos: Jonathan Gayman

4 alumni.ey.com


Betsy Rafael Barbara StymiestOlivia Kirtley

Strategy must take center stage in the boardroom, our alumnae agree.

Barbara Stymiest, former CEO of the Toronto Stock Exchange and a long-time board member at BlackBerry, stresses the importance of strategy, which she describes as both “the biggest challenge for management and the board to get right” and essential to survival: “If you don’t make the right choices, you’re not around. If you don’t transform, you don’t survive.”

Survival of the fittestIn every era, keeping the board focused on the things that really matter takes great effort. Today, with global interconnectedness,

the digital economy and a dynamic regulatory environment, it’s even more difficult to keep strategy at the center of it all.

In the view of Betsy Rafael, who, in addition to serving on multiple corporate boards, has served in senior finance positions at companies including Apple and Cisco, “You can’t lose sight of whether you are doing the right thing strategically — whether the focus is transformation, growth, international expansion or another objective.”

Olivia Kirtley, with experience on five public and private boards, agrees that, “It is easy to get bogged down while making sure that you’re doing your job on the regulatory front and on other matters. But, in addition to

innovation and growth, you must absolutely stay focused on the strategy … you must protect that time.”

The most effective boards, she adds, are those that manage their time and resources to ensure that strategy remains at the forefront of discussions. Rafael, who serves on boards of companies at varying stages in their development, asserts that keeping strategy first “comes down to the level of sophistication and maturity of the board.”

In considering the board’s ability to lead, our alumnae are unanimous in their belief that direct and frequent communication with the CEO is the best approach. When the corporate secretary introduces a new regulatory matter

“If you don’t make the right choices, you’re

not around. If you don’t

transform, you don’t survive.”



In her own words, Barbara Stymiest has “come full circle” since her earliest days at EY. Her very first audit client was Queen Elizabeth Hospital, a not-for-profit rehabilitation institution in Toronto that later became part of the University Health Network. Stymiest subsequently joined the Network board and remains very active in its fundraising efforts.

Today, she considers the growth of the aging population “one of the biggest issues facing people in many developed countries.” She recently became a member of the board of AGE-WELL, Canada’s technology and aging network. The acronym stands for “Aging Gracefully in All Environments using Technology to Facilitate Wellness, Engagement and Long Life.” She describes the organization as “an incubator of innovative technological solutions to help people maintain their quality of life and independence.”

The technology aspect of AGE-WELL also resonates with Stymiest because of her connection with BlackBerry. Her path

BarbaraStymiestFormer EY Canada partner

Last EY office: Toronto

Board service• BlackBerry Ltd. (2007–present: 2012 and 2013

Chair; Audit & Risk Management Committee Chair; Compensation, Nomination & Governance Committee)

• George Weston Limited (2011–present: Audit Committee Chair)

• Sun Life Financial Inc. (2012–present)

• TMX Group Inc. (1993–2004)

• Symcor Inc. (2004–11: 2007–11 Chair)

• Business Development Bank of Canada (2002–04)

Previous positions • CEO, TMX Group Inc.

• Executive Vice President and CFO, BMO Nesbitt Burns

• Group Head of Strategy, Treasury & Corporate Services, Royal Bank of Canada

Awards/distinguished service• Vice-Chair, AGE-WELL

• Trustee, University Health Network

• Chair, Canadian Institute for Advanced Research

• Chair, Advisory Board for the Ivey Institute for Leadership

or another new agenda item, it tends to be after the fact. Stymiest reminds us that, “A high-performing company needs a high-performing board, and a high-performing board doesn’t just happen; it takes a lot of work on both sides, with the chair of the board working alongside the CEO to drive change.”

Is there a gold standard for boards? How do they gauge their effectiveness?Maintaining engagement with the CEO is an ongoing task for board members. But it is only one of many challenges that today’s boards must tackle. Among these is the way the board assesses the quality of its performance in today’s environment. Our panelists expressed strong opinions on this issue: they agree that, however the assessment is performed, it needs to be thorough and deliberate.

Kirtley describes her board’s assessment process as “very rigorous.” With the written evaluation in hand, the lead director or the head of the governance committee follows up with each board member, one on one, probing for

additional commentary on what’s working well and what’s not. What follows is a “very robust discussion at both the committee and the board level.” Subsequently, the board acts on whatever issues or enhancement opportunities need to be addressed.

In her varied experience across the tech sector, Rafael has seen boards take different approaches. “One board undertakes a very formal process,” she notes. “The goal is to really understand the feedback, and what we are going to do about it.” Another board on which she serves is more “informal,” but equally effective, as the process involves a lively and penetrating discussion among multiple board members about what could be improved. The group then takes action based on the conclusions of the discussion.

Another technique that boards can consider is the input of an outside expert. Stymiest describes a recent experience with one of her

“ There are fewer people willing to take a chance, including the search firms, on someone who is new.”

continued on page 9

6 alumni.ey.com

into the tech sector began at the World Economic Forum in Davos, Switzerland. By then, Stymiest had achieved the distinction of being the first woman in North America to lead a stock exchange. She recalls, “I joined the board of the Toronto Stock Exchange, subsequently becoming the vice chair and later the chair of the board in 1997.” When she finished her term as chair, she was approached to become the chief executive. She is proud of her achievement. “If I had been the token woman, I would not have been asked to be vice chair and then chair. But having proved myself among my peers on the board, the board had the confidence in me to lead the exchange.”

At Davos, Stymiest began what would become a strong relationship with then-Research in Motion (currently Blackberry) co-CEO Jim Balsillie, a fellow Canadian and EY alumnus. She joined the company board in 2007 — and stayed. Stymiest was a steady hand during 2012 and 2013, serving as board chair “as the company transitioned from co-CEO founder to restructuring (to refinance the organization) to bringing in a new CEO, John Chen,” who became executive chair. Although Stymiest “passed the baton” to Chen, she has remained very involved as chair of the Audit Committee.

“ To me, the rules of engagement are very clear. The board engages with shareholders on governance matters only.”


Article heading

Olivia Kirtley’s accounting career began in the EY Louisville office when the late partner Chet Shelley interviewed and then hired her — literally — on the spot. The year was 1972, a time when only a handful of women were being hired into the profession. “Mr. Shelley was willing to take a chance on me,” says Kirtley. Today, more than 40 years later, she still feels a “huge responsibility” to help open doors for others.

Despite being among the first woman professionals at EY, Kirtley reports witnessing “many biases against women and other minorities” throughout her illustrious career in public accounting, public and private industry and service on corporate boards. “My attitude has always been that it’s unfortunate that some people have that bias, which is often an unconscious bias,” she comments. However, it was those very biases that pushed Kirtley to meet or exceed expectations. “Did I try harder to pass my CPA exam on first sitting … knowing

OliviaKirtleyFormer EY senior manager

Last EY office: Atlanta, Georgia

Board service• Isolyzer Company, Inc. (1997–98)

• Alderwoods Group, Inc. (2002–06)

• Lancer Corporation (1999–2006)

• Papa John’s International, Inc. (2003–present: Audit Committee Chair; Compensation Committee)

• Res-Care, Inc. (1998–present: Audit Committee Chair; Governance and Nominating Committee)

• US Bancorp (2006–present: Audit Committee Chair; Compensation Committee; Executive Committee)

Previous positions • Business consultant

• CFO and Treasurer, Vermont American Corporation (including subsequent joint venture with Emerson Electric Co. and Robert Bosch GmbH)

Awards/distinguished service• Chair, American Institute of Certified Public

Accountants (AICPA)

• Chair, AICPA Board of Examiners

• President and Board Chair, International Federation of Accountants (IFAC)

• Faculty member, The Conference Board Directors’ Institute “ We all have different

experiences and backgrounds that make us more sensitive to something, whether it’s talent development, succession planning or diversity and inclusion in the C-suite.”

8 alumni.ey.com

boards, which invited in an outside party “well-regarded in the country in the area of governance.” This person spent an hour or two with every director individually. While the board survey provided a framework for the conversation, the ensuing discussion “was far richer and more wide-ranging.” Whatever the method, it’s “very, very important for the chairman or the lead director to actually act on the findings.” Stymiest also appreciates the opportunity to meet one on one with the board chairman to gain perspective on her own performance as a board member.

Board makeup and alignment with the changing needs of the corporation is a hot topic in governance circles today. Rafael introduces the area of cybersecurity as an example of subject matter that boards “need to own … you need to have people who have the capabilities to engage in cybersecurity at a different level from the rest of the board,” advises Rafael. The stakes in the game are higher than ever, she points out, with proprietary data such as intellectual property and individuals’ social security numbers stored on the cloud.

Managing in a “disruptive” worldThe digital transformation of virtually every business transaction and activity has reshaped the role of executives and board members worldwide. Technology, with all its benefits, has disrupted commerce in every conceivable way and can create havoc for a company in a matter of seconds. Not surprisingly, cybersecurity was a substantive topic of discussion for our alumnae. Cyber attacks and the serious damage they can cause are driving boards of some companies to request an assessment from professional

a generation of women behind me were going to be judged by my work? Absolutely, I felt that pressure.” By the way, not only did Kirtley pass the exam the first time, but she was the only one in her hiring class who did.

Kirtley served as the first woman chair of the American Institute of Certified Public Accountants (AICPA) in the late 1990s and as chair of the AICPA Board of Examiners during the three-year conversion of the CPA exam to a computer-based exam. Today, Kirtley keeps pushing new boundaries. She is presently serving as the first woman president of the International Federation of Accountants, the global accountancy organization that represents 180 member

bodies in 130 countries and supports four international standard-setting boards (auditing and assurance, ethics, education and public sector accounting). In this role, she recently found herself in Rome addressing Pope Francis — in Italian — as part of the World Congress of Accounting. While that event was certainly a career highlight, for Kirtley it’s part of a larger mission: “It’s really important to a lot of women around the world to see that a woman can do this,” she remarks. “Career-wise, I’ve attained most of what I’ve set out to do. But this profession has given me so much opportunity … now it’s my turn to give back and help others around the world take advantage of the opportunities that were not so available when I began.”

continued on page 10

continued from page 6 The EY Center for Board Matters: your hub for board and audit committee resources

The EY Center for Board Matters (CBM) is committed to bringing together and engaging with boards, audit committee members and investors to exchange ideas and insights. Using our professional competencies, relationships and proprietary corporate governance database, which includes historical and current governance data for more than 3,000 public companies listed in the US, we are able to identify trends and emerging governance issues. We deliver timely and balanced insights, data-rich content and practical tools and analysis to boards, audit committees, institutional investors and others interested in governance topics.

Visit ey.com/boardmatters to find a wide spectrum of information for boards and audit committees on topics such as the audit committee’s role in disclosure effectiveness, independent board leadership structures, and the board’s role in tax oversight. While there, click on “subscribe” to automatically receive the latest publications from the CBM. Stay up-to-date on the latest board and audit committee trends by following the EY Center for Board Matters magazine on our FlipBoard app. Download the app from your preferred mobile app provider and search for “board matters.”

visit: ey.com/boardmatters

services firms that specialize in defending businesses that have suffered such assaults. Kirtley reports that, “Companies are asking what structures and security measures were in place at the time of recent attacks, how companies managed through the events and how the board was involved or not involved in fulfilling their oversight responsibilities.” She remarks that “knowing the facts surrounding events that have occurred is extremely helpful for lessons learned.”

Cybersecurity is one of many potential areas of knowledge that boards may need to cultivate. The panelists agreed on the importance of recognizing that the extent of board members’ skills and experiences is not

always apparent from a resume. Whether a company is transitioning to new markets or new channels of commerce or undergoing other major changes, the board or the governance committee needs to address the adequacy of the skill sets available among its board members.

Boards must fully understand the range of knowledge and skills of their directors. Stymiest believes that, “It’s part of director orientation to really understand what kinds of skills a new member brings.” To underscore her point, she notes that one of the boards she serves on now includes a skills matrix in the proxy circular. Speaking specifically about the accounting



“ When boards are open to multiple perspectives, they’re largely going to end up with a better answer.”

professionals she has known, Kirtley finds that board aspirants often do not present a compelling narrative highlighting their relevant accomplishments — “They lack a narrative that goes beyond the numbers,” she says.

When the situation is reversed, and a board member is no longer adding value, the most effective boards address the situation in a forthright and timely manner, our panel agrees. For the best interest of the company,

* EY Americas Managing Partner Steve Howe is one of the 27 founding chairpersons and CEO supporters of the 30% Club in the US.

continued from page 9

EY acts to fast forward gender parity

It will take until 2095 for women to achieve gender parity in the workplace, according to the World Economic Forum’s Global Gender Gap Report 2014. At the World Economic Forum in Davos in January, EY announced a new global campaign designed to draw attention to the global gap in gender parity. The campaign, Women. Fast forward, is designed to consolidate all EY’s internal and external efforts to promote women, galvanize support from business and government leaders to accelerate change and underscore EY’s leading role in championing women in the workplace.

“Women’s advancement is a prominent discussion point at WEF and in the wider business world,” said Uschi Schreiber, EY Global Vice Chair — Markets, Chair — Global Accounts Committee and executive co-sponsor of Women. Fast forward. “Through Women. Fast forward, we intend to catalyze a dynamic exchange on how business and government can work together to speed up the clock to advance women and, in the process, create greater economic prosperity for everyone.” The launch of Women. Fast forward included a new report that identifies key accelerators to help women move forward and a website (ey.com/womenfastforward) that brings together EY’s resources for women and promotes dialogue and learning around closing the gender parity gap.

EY Global Chairman and CEO Mark Weinberger explained the need for speed in achieving gender parity. “Women are half of our population, and at EY they are half of our workforce,” said Weinberger. “The global economy won’t succeed, and we won’t succeed, if women are not engaged. We wouldn’t wait 80 years to implement any other business imperative, so why are we waiting on this one?”

Learn more about Women. Fast forward: ey.com/womenfastforward | #womenfastforwardWhat do you think? Have a thought or comment about Women. Fast forward? We’d love to hear from you. Please contact Lisa Schiffman at [email protected].

they say, someone needs to initiate the difficult conversation. Stymiest is surprised at the small number of board members who are told that their services are no longer needed. And yet those conversations have to happen. That’s one reason it’s important to have a strong governance committee, Kirtley emphasizes. “It’s a very important job,” she says. “Highly functioning boards will tend to have those tough conversations and act courageously, and they’re expected to do so.”

Diversity and inclusiveness 2.0While our three alumnae have found great success in their respective fields, each remains strongly convinced of the importance of diversity and inclusiveness in the boardroom and in business in general. Kirtley, who is the first woman president of the International Federation of Accountants, points out that each person walks into the boardroom with different experiences. “Women bring a unique set of experiences and challenges they have had to deal with in the business world.” She remarks, “If half of your talent pool are women, you want to draw from the best of that entire pool.”

In Canada, regulators have taken a proactive route to diversity. Stymiest notes that Canadian issuers in the province of Ontario are required to disclose the gender diversity of their boards of directors and in executive officer positions. The rules take effect with the 2015 proxy season. “You have to describe what policies you have and what targets you have,” explains Stymiest, as well as “what progress you’re making toward those targets for both management and the board.” Stymiest was the first woman

to head the Toronto Stock Exchange (TSX). At the time of the Connect meeting, she had just been invited to join Canada’s first chapter of the 30% Club, a group launched in the UK in 2010 whose goal is for FTSE-100 corporations to include at least 30% women on their boards by the end of 2015.*

Diversity and inclusiveness transcends gender and has multiple dimensions — what Stymiest calls “diversity writ large.” “In Canada, where we’ve built the nation

10 alumni.ey.com

through very open immigration policies, we have a very diverse number of cultures in our country and in our workplace. That diversity and inclusion writ large is the right direction.”

Betsy Rafael, the first woman named to serve on the board of GoDaddy.com, a major internet company, agrees that diversity and inclusiveness is good business: “When boards are open to multiple perspectives, they’re largely going to end up with a better answer.” Rafael believes that she was fortunate in the confluence of Sarbanes-Oxley and the time she was considering an initial board position. SOX was the impetus for some companies to move the “old boys’ network” out of the boardroom and bring in some fresh thinking. Because of her gender, and the fact that she had implemented SOX at a major tech company, she became a sought-after candidate for director positions.

Our three panelists also concur that most boards today strive to gather information and references on potential members from a diverse pool. Nevertheless, Kirtley offers that many board members tend to be comfortable with the people they can relate to more — people from similar backgrounds, management positions and experiences. And, she says, “There are fewer people willing to take a chance, including many search firms, on someone who is new.”

Tips for board seekers Just as boards need to be thinking strategically, anyone considering board service should take a strategic approach, the panel agreed. Our three alumnae are not only approached regularly to serve on boards, but are frequently asked for candidate recommendations. Stymiest, who has begun to keep a folder on her computer for such occasions, talks about her process: “You’ve sat around a management table or a board table, you know the quality of someone’s [a candidate’s] interventions; you know that they are thoughtful, respectful and nice to be around. These traits go a huge way with me.”

Of course, there is also the Catch-22 that you may not be perceived as qualified to serve on a board unless you have actually served on one. Stymiest

Karyn Twaronite Taking diversity and inclusiveness global at EYParticipating in the conversation was Karyn Twaronite, who was recently named EY Global Diversity & Inclusiveness (D&I) Officer. This role comes in addition to her position as EY Americas D&I Leader, which she has held since October 2011.

About Twaronite’s new global role, Steve Howe, EY Americas Managing Partner, said: “D&I is a key component of our Vision 2020 goals. This is why Karyn was tapped to expand on our success in the Americas to further the most inclusive work environment for all of our people globally.” Howe noted that the world’s leading organizations, including EY, must continue to push the boundaries in developing the 21st century workforce.

One of Twaronite’s key concerns is ensuring equitable career sponsorship. As an example, Twaronite comments: “Women are generally over-mentored and under-sponsored compared to their male peers, and men who get promotions are more than likely to have sponsors advocating for them.” To encourage more high-level executive sponsors, she says, women’s capabilities, potential and achievements must be made “visible in high-profile jobs throughout all organizations.” Twaronite is a global co-sponsor of EY’s recently launched Women. Fast forward campaign (see more on page 10).

A sampling of diversity and inclusiveness at EY• Inclusiveness Leadership Program — a formal mentoring program that pairs

high-potential EY partners or principals with Americas board members and an external coach is designed to ensure that available talent is fully capitalized on in leadership ranks.

• Career Mentors and Sponsors Program — looks at the career trajectory of high-performing women and ethnic minorities to see that they’re getting the right experiences. A standing leadership team of client-service leaders helps ensure that participants are assigned to top clients, key sales opportunities and other leadership roles and that they have the best mentors.

• Unplugged — an annual two-day conference attended by more than 400 Black and Latino EY staff and professionals from every service line, practice and region. Now in its fourth year, Unplugged offers a unique opportunity for staff to build relationships, connect with peers and establish long-lasting networks with EY executives. The program has been expanded to our Pan-Asian population via webcast.

• Leadership Matters — a learning experience that develops inclusive leadership capabilities for EY executives, senior managers, managers and seniors. A significant component of the program is exploring the impact of unconscious bias and “insider-outsider” dynamics, so that our people are more effective in team and individual relationships across our organization.

• Career and Family Transitions Program — a coaching program that supports working moms and dads who are welcoming a new baby through birth or adoption. By connecting participants with a professional coach, the program helps new moms and dads meet their personal and professional goals, while also meeting their clients’ and teams’ expectations, during one of the biggest transitions of their lives. Coaches are multicultural and multilingual and are based inside and outside of the US.




pushed herself forward early in her career by volunteering to serve on the board of a non-profit in her community. She recommends that route for others.

Rafael advises aspiring board directors to develop a case demonstrating why their specific background and skill set will help the organization. And she urges them to make an investment to become educated on the role of boards and board membership. She recommends enrolling in a directors’ college, such as those offered at top business schools and associations.

In some ways, securing a board seat is not unlike a job search. Building a strong professional network is extremely desirable. And sponsorship is enormously valuable — in Rafael’s words, someone who will say, “I’m

going to stand up and I’m going to go to bat for you because I know that you will deliver; you’re going to show up.”

Our panelists advise that it is critical, particularly for those in the accounting profession, not to take a “check the box” approach when presenting credentials to a board or a sponsor. Kirtley cites the preconceptions about CPAs that their expertise is confined to finance. Boards, she says, want not only depth, but also breadth. They are seasoned individuals who have made their mark in strategy, operations, IT or other key corporate functions. These professionals “need to establish an awareness of all they have done throughout their career,” says Kirtley. All three women agreed that most accounting professionals have a wealth of experience to offer. For those with hopes of serving on a corporate board, sometimes it’s just a matter of “telling their story a little better.”

“ A high-performing company needs a high-performing board, and a high-performing board doesn’t just happen.”

Silicon Valley insiders were not surprised when Betsy Rafael was named the first woman to join the board of GoDaddy, Inc., the internet company and world’s largest registrar of domain names. Rafael is a luminary in the high-tech industry, a sector that is not known for placing women in leadership positions.

As a young professional starting out, Rafael never seriously considered her gender as an obstacle. It was simply not on the horizon. “My mom was an executive in an advertising agency. My grandmother was a real estate agent.” She grew up thinking that women’s professional success was the norm.

Rafael has been intrigued by technology ever since she can remember. When she was recruited by EY right out of college, she chose the San Jose office over San Francisco because that’s where clients like Atari and Apple were being served.

When Apple offered her a position, Rafael made the move from EY. “I liked what I was doing, but I wanted to be closer to the business ... I wanted to have more of a say in what the company was doing in the finance area.” Thus began a career

BetsyRafaelFormer EY senior

Last EY office: San Jose

Board service• GoDaddy, Inc. (2014–present)

• Echelon Corporation (2005–present: Compensation Committee Chair; Audit Committee)

• Autodesk Inc. (2013–present: Audit Committee)

Previous positions • Vice President Corporate Controller and

Principal Accounting Officer, Apple Inc.

• Vice President Corporate Finance (2006–07); Vice President Corporate Controller and Principal Accounting Officer (2002–06), Cisco Systems, Inc.

• CAO, CFO and Executive Vice President of Finance, Aspect Communications Corp.

• CFO and Senior Vice President, Silicon Graphics, Inc.

Awards/distinguished service• Trustee, Santa Clara University


12 alumni.ey.com

“ My practical experience in regard to getting on boards has all been based upon the people I know and my network; you’ve got to have people that know that you want to be on a board.”

spanning more than two decades in a variety of finance-related positions with high-profile tech companies. In addition to Apple, Rafael held senior-level finance positions at Sun Microsystems, Cisco Systems, Aspect Communications and several others.

As she continued to thrive in the tech sector, she realized that gender was an issue — if not for her, then for others. “I recognized that I had a responsibility to help other women.” This commitment has helped to shape her role as a board director.

“I do believe that once you’re on a board, you can become that mentor/sponsor, but you can’t do it on the outside looking in.”

Looking back, Rafael believes that her background in public accounting has been a real differentiator. “It teaches people how to problem-solve — shows you a way of thinking and learning that sets you apart from somebody else.” She has concluded that her experience at EY was, from a work perspective, “the best foundational experience of my life.”


Frank Mahoney, EY’s Vice Chair of Assurance, believes there’s never been a better time to serve in the audit profession.

words: Anne Lampert photos: Jonathan Gayman

When Frank Mahoney enters an audit room, he’s in his element.

Even as EY Americas Vice Chair — Assurance, a role he assumed in July 2014, he remains hands-on as a Global Client Service Partner. “What has kept me in the business for so long is working in the audit room with our audit teams,” he says. Mahoney clearly thrives on working with young people and sharing the insights he’s gained from his substantial experience in the field. It is a legacy that he feels privileged to pass on.

Given his significant and continuing contribution to the audit practice, Mahoney was well-suited to become EY’s new Americas Assurance Leader, a role he views as an “honor and a responsibility.” And it’s an increasingly substantial responsibility, given the evolving global regulatory and standard-setting environment.

The importance of the audit profession has never been greater, in Mahoney’s view. The passage of Sarbanes-Oxley (SOX) in 2002 was a message “heard around the world” by all stakeholders about the significance of trust in the capital markets. That trust is only possible through the performance of quality audits: “This is why the work we do at EY is so critical to the

vitality of the markets,” remarks Mahoney. With SOX and the formation of the Public

Company Accountability Oversight Board (PCAOB), US audit firms now operate under greater scrutiny and regulation. These developments, according to Mahoney, have driven the profession to become even stronger. This trend is partly the result of engaging more constructively with audit committee chairs and members, as well as communicating more frequently with them as part of audit delivery. “The PCAOB has played a tremendous role in driving the profession to improve our audit quality,” he says, “and today we are achieving a higher level of quality than ever before.“

Transforming the audit Before assuming his current role, Mahoney was the leader of EY’s Audit Transformation program. He believes that audit transformation is about making EY’s audit business “more quality-conscious, agile, efficient and relevant, so teams can deliver against our primary aim — to provide the highest-quality audits in the profession.”

Mahoney is very proud of the audit transformation effort: “The whole premise is to transform our audits to better meet the needs of all stakeholders — including audit committees, investors and the

capital markets overall.” He notes that EY’s audit transformation requires a significant investment in EY’s largest practice. By developing the most advanced tools and technologies, “we will empower our people to better manage the workflow of the audit and utilize data analytics to gain a more robust view of information and the business,” says Mahoney. The outcome: a more effective audit and a fuller picture of the client’s financials.

Innovation the markets demand A more robust audit tool set is just one aspect of the recent developments that spark Mahoney’s enthusiasm. He’s also excited about EY’s high-growth Assurance practices, which focus on particular market demands:• Fraud Investigation & Dispute Services

(FIDS) — helping our clients analyze the impact of cyber breaches, conduct fraud risk assessments, evaluate anti-bribery and corruption programs and utilize forensic data analytics to manage risk and regulatory compliance

• Climate Change & Sustainability Services (CCaSS) — assisting companies in taking concrete actions to identify competitive advantages, increase operational efficiency and mitigate risk in their overall

A fair challenge

14 alumni.ey.com

FrankMahoney

“ The whole premise is to transform our audits to better meet the needs of all stakeholders — including audit committees, investors and the capital markets overall.”

approach to meeting environmental, social and other non-financial reporting commitments (see more on page 25)

• Financial Accounting Advisory Services (FAAS) — aiding finance leaders as they tackle strategic accounting and financial reporting challenges — in particular, addressing major standard-setting developments such as revenue recognition and future leasing proposals

“Each of these businesses addresses an urgent market need,” Mahoney explains. From complex accounting regulations to environmental and social issues to theft of intellectual property, “many companies just don’t have the resources to take on these challenges,” he points out, “and they may lack the skill sets to make sure they get it right.” All three offerings are tightly integrated with auditing, the cornerstone

of the Assurance practice. Taken together, Mahoney adds, “They are well-aligned with EY’s Vision 2020 of building a better working world.”

The evolution of the emerging markets is also an integral part of the growth and people story for Assurance, for EY as whole. The growing economies in the Americas present significant opportunities for the practice: “Operating in a firm that is so globally

EY Americas Vice Chair — Assurance


Frank Mahoney — a fair challenge

day since. “I take deep pride in the fact that what we do as auditors is important,” he comments, “and that we must hold ourselves to the highest level of ethics and integrity.”

Mahoney views all EY alumni — those who spent their entire careers at the firm as well as those who moved on to other opportunities — as leaving a powerful legacy. He credits the continued advances in the profession to “those alumni who were committed to doing the right thing for our people every day, to generating the culture that is so vital to our business and so well-respected, and to cultivating the great minds of the future.”

Mahoney sees his role today “as a caretaker for the EY brand, to make it even better.” Following the last financial crisis, the capital markets gained a greater appreciation of the unequivocal importance of high-quality audits. He also believes the heightened scrutiny of the audit is a “fair challenge” that creates immense opportunities, reflected in the growth and breadth of EY’s Assurance practice.

Mahoney is also keenly aware of his responsibility to maintain work-life balance, which means having the flexibility to spend time with his family: his wife, Mary, and four teenage children, Sarah, Frankie, Lindsey and Jack, who are all very active in sports and other activities. He values being able to attend their events and other activities and “being there at the right time.”

Mahoney looks to the future by first looking back. From his perspective, “the profession has withstood intense scrutiny and challenges in the past,” and has always emerged “stronger and better” than before. He takes particular pride in “how EY has responded to those challenges, while always continuing to improve.” Mahoney credits EY alumni for their past contributions and seems to derive confidence from knowing that the alumni network will always provide, “a powerful resource and sounding-board for how this Assurance practice evolves in the future.”

connected, we have the ability to share ideas and talent across regions,” Mahoney says. “We know from firsthand experience that diversity — people from different cultures and perspectives working together — makes for higher-performing teams,” he says.

As the practice diversifies — both with respect to building out the three specialty practices and to encouraging diverse audit teams — Mahoney continues to remain personally focused on attracting new talent to EY. He is active in campus recruiting efforts at his alma mater, Boston College, and engages often in his new role with academic leaders and accounting professors to help increase understanding of the innovations now occurring in the field.

The alumni legacy Asked what message he would deliver to EY alumni, Mahoney doesn’t hesitate — he voices deep gratitude. “I always look back with a smile when I recall those that have served as mentors to me from my very first days with the firm,” he says. Mahoney joined EY after graduating from college in 1985, and the business principles he learned in those early days have stayed with him every

“ I always look back with a smile when I recall those that have served as mentors to me from my very first days with the firm.”

Americas Assurance — strengthening EY’s base

Talent• Number of professionals* = 19,844

with 1,552 partners• Number of professionals

hired in FY ‘14 = 4,888• More than 31 million hours

produced in FY ’14Market presence• EY audits more companies in the US

Fortune 500 and 1000 and Russell 3000 than any other public accounting firm

• EY audits half of the businesses on Fortune’s 2015 “Top 10 Most Admired Companies” list

• Number of US public companies audited in 2014 = 1,071

• Innovation in specialty practices — Financial Accounting Advisory Services (FAAS) - Accounting, reporting and governance - Transaction accounting - Treasury, financial instruments and commodities

— Fraud Investigations and Dispute Services (FIDS) - Cyber breaches/fraud risk assessments - Anti-bribery and corruption programs - Forensic data analytics

— Climate Change and Sustainability Services (CCaSS) - Environmental, social and non-financial reporting

- Competitive advantage and operational efficiencies

- Risk mitigation throughout the value chain

Quality• Historic investments in

audit transformation: — State-of-the-art auditing and research tools

— New analytics suite — New private company audit experience

• Continuing education hours per audit professional FY ’14** = 122 (20% increase vs. prior year)

• Commitment to profession-leading financial reporting updates and commentary via EY AccountingLink

* As of 28 February 2015** US average per professional

16 alumni.ey.com

Closestto the pin

TomHough

As we welcome Frank Mahoney to his new role as EY Americas Vice Chair — Assurance (see preceding article), we also welcome Tom Hough, Frank’s predecessor, to the ranks of our alumni.

Whether as EY’s recently retired Americas Vice Chair — Assurance or in his new role on the Executive Committee of the United States Golf Association (USGA), Tom Hough’s competitive spirit, passion for people and pride in his work have helped him “aim for the pin” throughout his career.

words: Jeff Anderson photos: Marcus Krause


Closest to the pin — Tom Hough

A note from Jeff Anderson, EY Director, Alumni Relations — Americas and US:During my interview with Tom Hough, I reflected on when we first met: Tom had just been appointed Vice Chair — Human Resources, and I had recently joined EY from Andersen to become the Southeast Area Director — Human Resources, so Tom was now my ultimate boss. When Tom called his first Americas HR leaders meeting, I remember the chatter among the attendees. Tom was so positive, so enthusiastic and so zealous about EY that some of us wondered if he was for real — if he was truly authentic. To inspire us, Tom closed our meeting with the famous Queen anthem, “We are the champions.” It seemed rather unconventional at the time, but after working closely with Tom and seeing him in action for the past 18 years, I can say he truly was “for real” and one of the biggest champions of our people.

Seeing the light (and the pin)Tom Hough recalls a cold winter evening in Pittsburgh when he “saw the light” that changed his outlook forever. It was 1993, and he was attending a Penguins hockey game with clients. At the time, he was an Area Managing Partner, his first significant leadership role at EY. Hough couldn’t help but notice the fierce pride the fans took in their team and in players such as Mario Lemieux, the NHL’s scoring ace of that decade. He recalls thinking, “People are paying good money to buy a jersey with Lemieux’s name on the back,” making Hough want to display his own “immense pride” in being part of EY.

A short time later, Hough stood before his Pittsburgh colleagues and vowed that he would wear an EY lapel pin every day for the rest of his career as an outward demonstration of his allegiance. Not only did he do so, but, for the next 21 years, Hough earned a reputation for handing out thousands of EY pins to EY people and alumni — and even clients — all over the world. Today, as a proud EY alum, he’s still wearing one.

Back to his rootsIn addition to his ever-present EY lapel pin, these days Hough sports the pin of the USGA as well. As a member of the association’s Executive Committee, he commits 40 to 60 days a year “giving back to a game I love, which gave me so much opportunity.” Hough grew up playing golf and was a member of the University of Alabama’s varsity golf team. But soon after

starting college, he discovered a “fire for business” that more than equaled his love for the game, “and you have to go where your passion is,” he remarks.

In fact, Hough says he was selected for the USGA Executive Committee “first and foremost” as a result of the experiences he gained at EY — “working with our global organization, empowering people with technology, developing a consistent approach across many functional components — this is what I learned at EY and what I hope to use as I serve the USGA. I love business and I love golf; it couldn’t be a better fit,” he adds.

The truth hurts (and helps)Hough started his career at EY with the National Research Group in Cleveland. It was a one-year assignment and, upon its completion, he transferred to the Birmingham, Alabama, office. Hough recalls a performance review that changed his perspective while he was there. The senior manager on one of Hough’s jobs rated him “less than expected.” “I was devastated,” says Hough — but he now realizes how important that experience was to his career. “That review helped me to really appreciate the power and potential of constructive feedback,” he says. “It helped me realize our partners and people want to help, but with that help comes great expectation that you will thrive and contribute.” Interestingly, seven years later, the author of that critical review would be one of Hough’s sponsors for his partnership nomination.

Revving the talent engineBy the time Hough was named Vice Chair — Human Resources in 1996, EY was undergoing a period of extraordinary change — workforce composition, technology, globalization and more — were simultaneously exploding. In the midst of this sea of change, Hough introduced a then-novel concept: professional coaches. “We believed that we’d benefit from independent, outside coaches who could help us maximize our individual strengths, work better as teams and truly turn on the engine of our human capital,” he remarks. Soon, EY piloted its first formal professional coaching program. Hough believes EY’s

“ The way EY supports its people — it expands our experiences and potential — and creates a much fuller life.”

18 alumni.ey.com

use of coaches unlocked “a whole body of knowledge that allowed the firm to learn more about itself and our people to become more thoughtful toward each other.” Much of this effort culminated in the introduction of the firm’s ground-breaking “People First” strategy in the late 1990s. Today, nearly 20 years later, a broad spectrum of coaching programs is a regular part of EY’s talent development program.

Expanding the turfIn 2000, Hough was named Southeast Area Managing Partner, based in Atlanta. Over the next nine years, Hough recalls “seeing the firm teaming at its best.” This included: responding to the Sarbanes-Oxley Act; assimilating and embracing “great talent” from Arthur Andersen, which Hough feels helped strengthen EY for the future; relocating the Atlanta office to anchor an urban revitalization project; and having the “privilege of working day to day with our people and clients.” It was also during

his tenure in Atlanta that Hough had the “great pleasure” of introducing his sons, Tommy and Houston, to his favorite pastime: golf. “To this day, they’re my best playing partners,” he says with a smile.

In 2009, rounding out his career, Hough was named Americas Vice Chair — Assurance, a position he held until his retirement in 2014. Calling it a “privilege and honor” to finish his career leading the firm’s foundational practice, Hough says the experience allowed him to see — firsthand and more clearly than ever — “the brilliance of EY’s people.” Looking ahead, Hough is quick to praise his successor, Frank Mahoney. “Frank’s the perfect choice to be our new Americas Vice Chair — Assurance,” he declares. “He’s a great leader and communicator and a truly remarkable partner.” During the transition process, Hough notes, Mahoney unexpectedly called and invited Hough and his family to join the entire Mahoney clan for a football game at Boston College, Mahoney’s beloved alma

mater. “We started out tailgating, and to see the love Frank has for his family and friends and his school — it was just a very special day. I knew then that we were passing the baton to a truly great EY leader,” Hough says.

Sweet home, AlabamaAmong the “most special guests” at Hough’s retirement reception were the retired partners and their spouses from his Birmingham office days — “the people who helped me in the early stages of my career and who have done so much for EY.” Thinking back on his career, Hough believes EY gave him — and offers all its people — an opportunity for “a life you never thought you would have.” Indeed, Hough’s remarks to EY’s newest class of partners at a recent global new partners meeting may sum up his lifetime love for EY: “Knowing what I do now, I wish I could do it all over again, and if given the chance, I most definitely would.” Hough struggles to find words that adequately express his appreciation: “It’s not about what I’ve done, but what EY and the people who’ve helped me in my career have done … I will be forever thankful.”

More about Tom Hough• Member of the USGA Executive Committee; will chair

the U.S. Senior Amateur Championship and will chair the Audit Committee and serve on the Championship, Compensation and Finance Committees this year

• Previously served as co-general chairman of the U.S. Amateur Championship and the PGA Championship

• Has been nominated to serve on the board of Publix Super Markets Inc.

• Retired partner and former EY Vice Chair — Assurance• Former member of the EY Americas Operating Executive

(17 years) and member of the Global Assurance Services Executive Committee

• Former Western Pennsylvania, Western New York and West Virginia Area Managing Partner, Vice Chair of Human Resources for the Americas, and Southeast Area Managing Partner

• Member of the University of Alabama President’s Cabinet and Board of Visitors for the business school; member of Wake Forest University business school Board of Visitors

• Past member of the Executive Committee of the Metro Atlanta Chamber of Commerce and a former trustee of the Woodruff Arts Center in Atlanta

• Married to wife, Jan, for 37 years; two sons, Tommy (wife, Chelsea) and Houston (wife, Anna)

Tom Hough, retired EY Americas Vice Chair — Assurance and a member of the USGA Executive Committee, shakes hands with Bryson Dechambeau during the first round of match play of the 2014 U.S. Public Links at Sand Creek Station Golf Course in Newton, Kansas.


Building a better working world

A thirst for excellence

Alumna Sarah Kauss left the high-powered world of international real estate to launch a unique company —a global sensation that’s helping to build a better working world.


20 alumni.ey.com

A thirst for excellenceSarahKausswords: Anne Lampert photos: Jonathan Gayman


Building a better working world — Sarah Kauss

Sarah Kauss is on a mission: to persuade everyone to say “no”

to plastic water bottles. Her company, S’well, produces the world’s “Best Reusable Insulated Water Bottle.” The product — sleek and attractive enough to appear in fashion photo shoots — has been embraced by celebrities such as Oprah, Ellen DeGeneres, Tom Hanks and Jimmy Kimmel. After all, the company’s motto is “Thoughtfully Designed to Drink in Style.” In the US, S’well products are sold at Neiman Marcus, Saks, The Container Store, J. Crew, Nordstrom, Athleta and some Starbucks locations — as well as many specialty retailers. As of 1 January 2015, the company had sold more than one million units. In 2014, Kauss was named to Fortune’s “40 under 40,” and she was the first EY alum to have been selected as a member of the EY Entrepreneurial Winning Women program.

“Look great & do good” In addition to helping stem the use of thousands of plastic bottles every year, S’well is part of a charitable community that gives back. By using S’well bottles, consumers are not only reducing the number of plastic bottles in landfills and oceans, but also supporting efforts to bring clean water to the world’s poorest communities. S’well has teamed up with the U.S. Fund for UNICEF to help provide clean drinking water to children around the world. S’well’s charity partners also include American Forests, a long-standing nonprofit that works to conserve forests and promote tree planting, and Drink Up, a private sector partnership that encourages water consumption, whose Honorary Chair is Michelle Obama.

Kauss does not remember a time when she didn’t carry a reusable non-plastic water bottle with her everywhere. While municipalities across the US were considering bans on plastic bottles, she had long been keenly aware of their environmental impact. Kauss shared a moment when she remembered traveling by boat on the Amazon and seeing plastic bottles floating by. “It has just always been one of my pet peeves,” she said.

More about the EY Entrepreneurial Winning Women™ programThe EY Entrepreneurial Winning Women program is a competition and executive leadership program that identifies a select group of high-potential women entrepreneurs whose businesses show real potential to scale — and then helps them do it. Now in over 25 countries around the world, the program is spurring real growth. Businesses involved in the North American program have average annual revenue growth of 20% and, as a group, have increased their total revenue by 63% since joining the program. For more information or to get involved, please visit www.ey.com/us/eww or contact [email protected].

Making waves in the boardroomPrior to founding S’well, Kauss had already embarked on an impressive international career. She was leading international development for Alexandria, the largest real estate investment trust (REIT) focused on science and technology campuses in urban settings. At the age of 30, Kauss was holding her own in boardrooms from Paris to Dubai, making the case for funding to support the development of research laboratories. She was involved in nearly every aspect of every project, and it was in these moments that she valued her background in accounting.

The language of business“Through it all, I had my accounting to make me feel comfortable,” Kauss said. “It really is the language of business. If you’re not afraid of the numbers, what

else is there? Having my EY background was so valuable — it really gave me a lot of confidence.”

If you happened to be at the University of Colorado at Boulder in the late 1990s, you may have spotted Kauss running the Career Fair as her summer job. Impressed with the recruiters from the accounting firms, she changed her major from marketing to accounting. She was particularly attracted to the people of EY. A memorable conversation with Jo Marie Dancik, Denver’s Office Managing Partner at the time, left a powerful impression on her. After Kauss introduced herself, Dancik urged Kauss to take charge of her career: “Ask for the clients that you want, for the things that you want and don’t just do what

comes to you.” Kauss recalls the conversation vividly — describing Dancik as “outstanding.” EY was the clear choice.

A “flat” organization Kauss embraced audit work at EY with her characteristic brio, appreciating the variety of clients and the teamwork. On her very first day at a client site, she had the opportunity to make a difference. “I was reviewing journal entries and found an item that looked questionable.”

Kauss recalls her amazement that the organization was so “flat,” that even on her first day at the audit, the partner said, “Just go in there and talk to the CFO. We trust you

22 alumni.ey.com

Global Executive Alumni Partner Michael DeStefano with Sarah Kauss, founder and CEO of S’well Bottle and EY alumna.

enough to represent us as a company.” As it turned out, the team had to make an adjusting journal entry. Kauss later transferred to Los Angeles, where she was exposed to high-energy, high-tech clients such as Geocities, which was later sold to Yahoo. David Bohnett, Geocities’ co-founder, advised Kauss to consider business school. And so she entered Harvard after the tech wave began breaking apart in 2001.

The 9/11 attacks occurred during her first week at Harvard Business School, and Kauss’s perspective on her career goals changed drastically. She remembers feeling as though she wanted to find a career that seemed more mission-driven or soulful.

After receiving her MBA, Kauss spent another year at Harvard working in the Leadership Initiative, a leadership and curriculum development program focused on research. With a longing to return to the business world, Kauss took a position at Tapestry Networks, a firm that establishes business networks to address specific common issues, such as how to set up effective international operations. She was presenting on this very topic at INSEAD, an international business school with campuses in Europe and the Middle East, when she was offered the position at Alexandria. She worked at Alexandria for six years, traveling around the world.

“Through it all, I had my accounting to make me feel comfortable … It really is the language of business. If you’re not afraid of the numbers, what else is there? I just feel like having my EY background was so valuable … It really gave me a lot of confidence.”


Building a better working world — Sarah Kauss

Kauss moved back east to develop the Alexandria Center for Science and Technology, where she did everything from design and development to work with teams of architects to renegotiation of contracts with the union, as well as leasing and hiring brokers to come up with the marketing plan. Visitors to Manhattan can view the Center’s striking high-rise in East River Science Park, next to the FDR Drive.

When the international market picked up again, the idea of working with California-based Alexandria while living on the East Coast and working with clients in overseas time zones seemed daunting. Kauss decided to resign. Her next move: to see whether she could make a go of the beverage bottle business.

Growing brand ambassadors The year was 2009. Back in Manhattan, Kauss was unemployed and committed to developing her idea. She worked with a design firm in New York to come up with the name and a manufacturer in China to develop the bottle itself. Once she had a

finished prototype, 3,000 blue bottles piled up in her New York apartment. On her own, with no staff, Kauss did her own sales and PR. She sent out samples to stores and to the media, including Oprah Winfrey’s O, The Oprah Magazine. Following the sample delivery, O came back to Kauss asking for the bottles in seven colors. It was at that time that Kauss took a leap of faith and ordered thousands of units of the bottle in various colors. Soon the S’well bottle became a fixture on the “O List” of recommended products. And today, S’well bottles come in more than 90 colors and styles.

Creating brand ambassadorsEarly on, Kauss made a savvy and deliberate decision to court mom-and-pop and small specialty stores before taking on retail giants like Nordstrom. She did not want to go to the big retailers without the ability to report “the sell-through rate in small stores.”

Today, S’well bottles are sold in thousands of specialty stores in the US. “They love us, and they’re the ones that call us regularly to say, ‘Can you believe it — I sold 80 bottles yesterday? Can you air-ship more?’ It is the small specialty shops that are out there telling the S’well story. They’re our front-line ambassadors,” Kauss says. And she credits her “starting small” strategy for having advocates who are really cheering for her brand.

Recognizing the entrepreneurial spiritLast November, Kauss was selected as a member of the 2014 class of EY Entrepreneurial Winning Women, to join the elite program for women entrepreneurs leading some of the country’s most exciting high-growth companies. This special group provides Kauss entry to EY’s customized leadership program designed to connect her with the advisors, resources and insights necessary to scale her business.

Kauss is enthusiastic about the program and keen to spend more time with the other members of the network. “I’ve never been in such a group of committed, smart, amazing women where I can honestly say, ‘this is what I’m struggling with. What did you do about this? There is just not any judgment.’ It’s a very safe place to say, ‘I actually am completely making up what I’m doing right now.’” It’s also safe to say that Sarah Kauss is one of the great improvisers in business today.

“ EY rocks. I don’t think I’d have the confidence to do what I’m doing now without having grown up in an organization such as EY.”

24 alumni.ey.com

Reporting

Socialimpact

Supplychain

Taximplications

Climatechange

Beyondcompliance

Emissions

Energyagenda

Innovation

Sustainability

Sust

aina

bilit

yCustomers expect it. Employees demand it. Shareholders rely on it. What’s your strategy?As consistent economic growth is slowly restored across the world, the next great challenge is already forming. Maximizing the opportunities presented by emerging and restored markets without further exceeding the world’s environmental carrying capacity will require an unprecedented level of innovation, cooperation and political will.

EY’s Climate Change and Sustainability Services (CCaSS) was formed to help companies demystify the highly complex world of sustainability and assist them in taking concrete actions to identify competitive advantages, increase operational efficiency and mitigate risk.

We begin by helping our clients develop an effective sustainability strategy that looks at nine key elements framing the sustainability strategy discussion. Our core services include: • Credible reporting — helping clients

assess and understand environmental and social metrics that are material to managing their operations

• Sustainable business solutions — helping organizations make better business decisions by bringing environmental, social and governance (ESG) concepts out of the sole purview of the sustainability function into strategic risk, supply chain, marketing, product development, finance and internal audit

Join the conversationAn effective sustainability strategy needs to consider all of the components that affect your business. Illustrated above are nine key elements that should frame the sustainability strategy discussion.



Article heading

Leisha John is one of the “10 most powerful women in sustainability”Leisha John, EY’s Americas Director of Environmental Sustainability, was selected by gb&d, a magazine covering green building and design, as one of its 10 most powerful women in sustainability.

John said the honor is a reflection of EY’s sustainability successes — such as our strategy around LEED green buildings, the rollout of Print Plus, which reduces our paper usage, and harmonizing EY’s sustainability reporting around the globe. EY’s culture plays a big role in all those achievements, according to John.

“We’re grounded in our values. We have a commitment to diversity and inclusion, and everyone’s opinion matters,” said John. She cited the power of the EcoCare network of 800 volunteers in the United States, which has supported grassroots efforts for more than a decade, and green champions in various departments across the Americas who help drive initiatives.

• Corporate compliance and operational improvement — assisting organizations in managing corporate compliance and operational improvement by helping them with environmental and sustainability regulations and voluntary initiatives. This pragmatic business approach focuses on improving client operations by providing cost-effective solutions to material risks

Finally, we examine the sustainability risk areas — strategic, operational, compliance, reporting and reputation — that, as sustainability continues to encompass a broader agenda, have emerged as key sources of risk to modern companies.

More about EY’s CCaSS

Eight sustainability questions to ask yourselfIf you cannot answer “yes” to all of these questions, your organization’s sustainability strategy may need enhancing.

• Do we have an overall climate change and sustainability strategy?

• Does the strategy consider all the relevant opportunities to generate revenue and reduce costs?

• Have we taken advantage of all the business and tax incentives and stimulus funding currently available?

• Have we recently assessed the effectiveness of our social compliance program and human rights status within our supply chain?

• Have we assessed where natural resource shortages are likely to prove most critical in our supply chain?

• Is sustainability risk included in our internal audit plan and overall enterprise risk management program?

• Does our company assure our external sustainability reporting using a third-party auditor?

• Do I know all the regulations impacting my business? Do I know my compliance costs?

Climate Change and Sustainability Services

Let’s talk sustainability Addressing risks, overcoming challenges and achieving results

Leisha John

You can learn more about EY’s Climate Change and Sustainability Services on ey.com (under the “Services” tab) or by contacting Steve Starbuck, EY Americas Leader of Climate Change & Sustainability Services at [email protected] or +1 704 331 1980.

Steve Starbuck EY Americas Leader of Climate Change & Sustainability Services

• EY contributes to technical sustainability working groups aimed at standardizing definitions and approaches, such as the International Integrated Reporting Council (IIRC), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the American Institute of Certified Public Accountants (AICPA).

• Over 700 dedicated EY professionals are fully focused on helping clients around the globe to develop, execute and measure broad sustainability strategies.

• In an independent survey of global corporate sustainability leaders conducted by Verdantix, EY was named the company with the strongest perceived capabilities to advise on global sustainability strategy.

• EY uses a multidisciplinary team approach to address all of the client’s strategic sustainability needs. This team includes subject-matter resources from geologists and tax professionals to former government officials and auditors.


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Issue # – Month Year

Visit the EY Alumni Network today!

Visit alumni.ey.com

Visit the new and improved EY Alumni Network to get the latest on alumni in the news, alumni developments and connection opportunities.If you haven’t visited recently, the EY Alumni Network has a fresh look, new tools to help advance your career and more features designed to help you stay connected with your former EY colleagues. These include:• Online member directory — now including global alumni search • Job opportunities — at EY, in the market and submitted by your

fellow alum • Career toolkit — including proprietary templates, tracking tools

and more • Events calendar — including alumni reunions and other

engagement opportunities• Learning calendar — a listing of upcoming live and virtual learning

and CPE opportunities

Also, when you join the Network, you’ll receive the Alumni Network Connector, our quarterly electronic EY alumni newsletter, and you’ll be sure to receive relevant invitations to learning, CPE and reunion events.

Already registered on the Network? You may need to reset your password.If you previously registered on the EY Alumni Network but have not reset your password since the launch of the new network, you will need to do so. • Go to alumni.ey.com• Click the “’Connect now” button• Select “United States” under “Choose location”• At the bottom of the log-in page, under “Alumni first-time

users,” select “click here to reset your password” and follow the on-screen instructions

Not a member of the EY Alumni Network? More than 70,000 of your former EY colleagues in the US have already registered. What are you waiting for?• Go to alumni.ey.com• Click the “’Connect now” button• Select “United States” under “Choose location”• At the bottom of the log-in page, under “Alumni first-time

users,” select “click here to create your account” and follow the on-screen instructions


Whenever you join, however long you stay, the EY experience lasts a lifetime. That’s EY’s promise to our people. Under the leadership of Steve Howe, EY Americas Managing Partner, EY is making significant strides toward this goal. How do we know? Our people — recruits, current partners, employees and alumni — tell us. For example, in September, EY was again listed as the No. 1 professional services employer and No. 2 employer overall (just behind Google) in Universum’s annual World’s Most Attractive Employer ranking. Ernst & Young LLP was named No. 3 in The 2014 DiversityInc Top 50 Companies for Diversity, and EY received a Glassdoor Employees’ Choice Award recognizing the Best Places to Work in 2015. And for the 17th consecutive year, Ernst & Young LLP appears on Fortune’s “100 Best Companies to Work For” list.

In this issue of Connect, we talk with Steve Howe and Kelly Grier, EY’s new Americas Vice Chair — Talent, about alumni, talent and what it takes to nurture a winning people culture.

KellyGrierrecently appointed EY Americas Vice Chair — Talent

It all comes down to

People. They are critical to the success of any organization, but particularly to a professional services firm. At EY, they are the most valuable asset.

peoplepeople

words: Jeff Anderson photos: Jonathan Gayman

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SteveHowe EY Americas Managing Partner

You are widely recognized as having helped shape EY’s people culture, including re-energizing EY’s alumni relations effort. Why are alumni so important to you and what do you hope to accomplish?

When I became EY Americas Managing Partner in 2006, I assessed a lot of things, including how we were engaging our alumni. Regionally and locally, we were doing some things very well, but our effort wasn’t consistent. And when I looked at the numbers then — some 200,000 alumni in the US and Canada alone — I said, “It’s just too powerful, we’ve got to believe in this: alumni are an extension of the EY family and we need to help each other.”

What do you mean by “help each other”?Our alumni tell us that one of the

greatest services we can provide is to help them stay connected to each other and to EY. So through dozens of alumni reunions

Keeping people at the center of our strategyIn his 32 years with EY, Americas Managing Partner Steve Howe has seen the organization nearly triple in size. And as EY grows, so do the number and strength of EY alumni — now estimated at 250,000 in the Americas. We talked with Steve about the power of this vast alumni network.

and learning events, and communications like Connect magazine, our alumni LinkedIn group and the alumni network, we try to do that. How can our alumni help EY? Well, sometimes it’s helping us build a relationship or win new business. Sometimes it’s sharing their perspectives and ideas. And sometimes it’s just enjoying spending time together. EY is part of our alumni’s brand and they are part of our family.

A few years ago, USA Today named EY a top-five “leadership factory” due to the extraordinary number of alumni who are in C-suite positions in leading companies. How do you feel about that description?

I think it’s great … just fantastic. Our Vision 2020 defines our purpose as helping to build a better working world. And if you read the fine print, we explicitly state that, in addition to being relevant to capital markets and world economies, we

will develop leaders. Many of those leaders will stay here and help EY reach its ambition. And many are going to leave and become leaders in the marketplace. And that’s fine with me. It’s part of our purpose and our unique people culture at EY.

EY was recently named by Universum as the second most attractive place to work in the entire US, behind only Google. Does it surprise you that a professional services firm would earn that distinction?

Yes. I think it surprises a lot of people, including my children. But it’s a great validation of who we are and who we want to be. It shows our people are excited about what they do and about our purpose as an organization. We can’t just preach it; our people must truly believe and live it — and this shows they do.

When you become an alumnus, what do you want to be remembered for at EY?

I hope people will say, “He was always true to our values, and he kept people at the center of our strategy.” If we get the people focus right, we’re going to serve our clients right, and we’re going to achieve our ambition.


Cultivating future leaders

Kelly Grier begins our interview with a heartfelt declaration: “I’ve never been more proud of EY. I love our firm. Our Vision 2020 purpose-driven ambition of ‘building a better working world’ embodies in such an incredibly powerful and clear way what EY people — past, present and future — are all about.”

Since being appointed to her new role this past summer, Grier says she has gained a whole new appreciation for the dedication of so many people who work so hard together, often in the background, to make EY the world-class organization that it is today. It’s this spirit of teaming, she believes, that most distinguishes EY and its culture — who we are as a firm — in the market.

As one of world’s “most attractive” employers, EY has record numbers of people joining its ranks today. “When you take that infusion of talent, perspective and experiences,” says Grier, “and couple it with our high-performing team culture, the result is a very unique environment … one that’s extremely potent, particularly around innovation.” She believes the culture at EY helps people succeed the most when they work in pursuit of a team’s objectives. “The success of the individual and the team are not in conflict but are culturally complementary at EY,” she adds.

A global mindset based on experienceGrier has always had an interest in global business and is, therefore, a huge supporter of mobility for EY people. When EY won the Compaq audit engagement in 2000, she immediately raised her hand to serve the client in Switzerland. Her original three-year assignment grew to five after Hewlett Packard (HP) acquired Compaq and she stayed to work on the integration.

More about Kelly Grier• More than 23 years’ experience serving primarily Fortune 500 global companies and

extensive international experience• Member of the EY Americas Operating Executive and the US Partner and Principal

Committee and member of the Global Practice Group and Global Talent Executive • Member of the U.S. Dept. of Commerce’s National Advisory Council on Innovation

and Entrepreneurship• Former EY Chicago Office Managing Partner and Illinois Market Segment Leader• Has served as an elected member of the firm’s Americas Advisory Council and the

Global Advisory Council• Has served as Coordinating Partner or Senior Advisory Partner on some of the

firm’s largest clients, including many SEC registrants• Previously served as an EY Regional Diversity and Inclusiveness Leader• Selected in 2010 as a World Economic Forum Young Global Leader• Recognized as a 2011 “Woman of Achievement” by the Anti-Defamation League• Recognized as a “2007 Woman to Watch, Experienced Leader” by the Illinois CPA Society• Recipient of EY’s Rosemarie Meschi Award for outstanding dedication to the development

of EY professionals• Trustee of the Ravinia Festival Board of Directors and Skills for Chicago’s Future;

appointed by Chicago Mayors Richard M. Daley and Rahm Emanuel as director of World Business Chicago

• Previously served as director of Children’s Home and Aid Society, the Chicago Finance Exchange and the Civic Consulting Alliance

Kelly Grier says her extensive global experience, combined with her time spent as a gender equity taskforce member and Chicago Office Managing Partner, have helped prepare her for her new role as EY Americas Vice Chair — Talent.

In July 2014, former Chicago Office Managing Partner Kelly Grier was named Americas Vice Chair — Talent, succeeding Nancy Altobello, who became Global Vice Chair — Talent. Upon making the appointment, Steve Howe, Americas Managing Partner, recognized Grier as a “strategic thinker with demonstrated client service experience; a record of inclusive leadership working with our partners and developing our teams; and an inspirational leader with a proven track record of working globally and leading through change.”

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It all comes down to people — Kelly Grier and Steve Howe

Reflecting on her time abroad, Grier views it as a “remarkable and invaluable” opportunity so early in her career. “I think about who I am as a leader, and so much of it maps to that experience,” she remarks. “Being immersed in a global environment and in highly diverse teams, and seeing firsthand the ability not just to accept but to harness those differences — witnessing that power and the power of teaming — it was a transformational experience.”

One of Grier’s favorite memories from her time in Switzerland is her interaction with Compaq’s regional CFO. “I remember him telling me, ‘This is not the United States of Europe. Every one of these countries is different. You can’t just come in and expect everybody to conform to the US way.’” She quickly learned that it takes a “delicate balance” to create consistency while still being true to the local market and cultural distinctions. “That was a surprising and important lesson I’ve never forgotten,” she adds.

A leadership factoryThe notion of helping develop leaders piqued Grier’s interest a few years back when EY was recognized by USA Today as “a top leadership factory.” In fact, one of the first things she expressed to her Talent team is that their job is to help build leaders. “What does EY do? We build leaders; that’s what we do,” says Grier, “and our alumni are an extension of our leadership development, focus and prominence in the market.”

Grier continually thinks about how EY identifies and attracts people, especially experienced talent. “Will new talent be accretive to our culture? That’s incredibly important to me, as is preserving the essential qualities of our culture — which truly is our competitive advantage — while allowing our culture to evolve as our people, the firm and the market evolve.” She explains that through the onboarding and assimilation process, the focus is on infusing our culture with the “goodness” and “innovation” coming from new people with different perspectives. “Recruits choose us every time because of our culture.”

Grier sees our alumni as stewards of the firm’s culture because they helped nurture and build today’s EY. She notes that EY

The Chicago White Sox ConnectionIn some ways, Kelly Grier owes her career at EY to the Chicago White Sox. While in college, Grier worked as Controller of the South Bend White Sox, which at the time was the White Sox’s Single-A affiliate team in South Bend, Indiana. Knowing the Chicago White Sox were a client of EY’s, she chose EY and joined the engagement team serving the White Sox. There, Grier got to know Tim Buzard and Bill Waters, who later joined the White Sox organization “for the love of the game,” as she puts it. Buzard now serves as the team’s Senior Vice President of Administration while Waters is Senior Director of Finance. But their impact on Grier was indelible. “Tim and Bill are great examples of EY’s exceptional alumni,” she says. “They’ve been avid supporters and advisors to me every step of my career. They love and are proud of EY just as I love and am proud of EY.” Grier notes that she and Buzard and Waters have remained great friends.

Tim Buzard

Bill Waters

leadership looks at every one of our current EY people as either a future leader within the firm or a future leader outside the firm. “Cultivating lifelong relationships — no matter what our people do today or what they’ll do tomorrow — and really thinking about these people as lifetime members of the EY family — that’s what is important to me,” says Grier.

Growing for the futureGrier firmly believes that growth creates opportunities for our people, ultimately enabling EY to better serve our clients. She reflects, “We’re looking around the corner anticipating clients’ needs. We’re anticipating skills and services that are going to be required and getting out in front of these needs today with the talent we’re bringing onboard.”

Grier sees a natural link between her proven success in the market and her new role as EY Americas Talent leader. Throughout her tenure in Chicago, she helped drive “significant double-digit” growth there. “And it’s entirely about the people,” she says. “I absolutely believe that to grow your business, you must continually develop and engage your people: the talent and markets strategies are inextricably linked.” While Grier is excited about “enabling EY’s business through the Talent agenda,” she freely

admits the “sheer magnitude” of what’s required to do that in an organization of nearly 60,000 people in the Americas is simply “stunning.”

Building better careersGrier expresses a deep sense of gratitude to our alumni, and particularly to our retired partners, for the role they have played in launching the careers of so many people, both within EY and in the market. “Each of us looks back with gratitude to the retired partners and alumni who not only helped build our great firm, but also shaped our careers through their mentorship and sponsorship. Retired partner Tom Maurer was a great friend and mentor to me earlier in my career and remains so today.” As EY Americas Vice Chair — Talent, she takes very seriously and personally her responsibility for helping to deliver the EY people promise. In her words, “I’m very committed to continuing to be a tangible part of our alums’ lives — no matter when they left, no matter what they’re doing now.”

She ends our conversation with these thoughts: “I hope our alumni take pride in the outstanding organization they helped build, that they still feel a part of EY and will take that with them wherever they go. And I hope they appreciate that lifelong commitment and relationships are truly valued by all of us at EY.”


The shifting shape of digital media More screens in more places. Newspapers, TV shows, books and sporting events being redefined as “content.” The rise of digital media and multiple delivery platforms have changed our lives in every way. The ever-expanding array of channels, platforms and devices is empowering consumers to choose the way they desire to experience that content. Today, media and entertainment companies must prepare for a world where the consumer is in control.

In this issue of Connect, we introduce you to two EY alumni who serve as CFOs of leading entertainment organizations. Their businesses are quite different, but both alumni share a desire to embrace the new while keeping us fully entertained.

Playing

full courtwords: Jay Seither photos: Robert Thomas

As CFO of the Golden State Warriors, Jennifer Cabalquinto describes her job as “the perfect marriage of all my previous experiences.”

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JenniferCabalquintoThe daughter of immigrants, this CFO of the NBA’s red-hot Golden State Warriors claims she’s living proof of the American Dream.


Playing full court — Jennifer Cabalquinto

Not quite two years ago, Jennifer Cabalquinto received a call from

a recruiter, asking if she’d be interested in the CFO slot at the Golden State Warriors basketball team. Her initial reaction: “Why?” She only had a passing interest in sports and no experience at all in the sports industry. By the end of the conversation, however, the recruiter convinced her that maybe it wasn’t such a crazy idea. Today, as the Golden State Warriors “operational CFO,” Cabalquinto describes her job as “the perfect marriage of all my previous experiences.”

Cabalquinto was born in the Philippines, one of five children. When she was four, her father, an accountant, moved to the US “in search of a better future for our family,” she says. Within a year, she, her brothers and her mother also made the move. Cabalquinto vividly recalls the seven of them living in a two-bedroom apartment in Brooklyn, all trying to learn English.

Not your typical accountantFollowing in her father’s footsteps, she majored in accounting at the State University of New York at Binghamton. But it was her minor in East Asian studies that Cabalquinto believes opened the door for her at EY. She first interviewed for a position with the firm’s Japanese Business Group, but admits, “my Japanese wasn’t quite good enough.” Instead, she was hired in 1990 into what was then the Entrepreneurial Services Group.

Cabalquinto likes to point out that she was part of the first recruiting class of the New York Metropolitan office, just after the merger that created EY. “I call our class the 21 Jump Street of audit — it was a very eclectic group, including English and economics majors — not your typical accounting types.” A few years later, she transferred to the EY Miami office to be closer to family. In 1994, she left EY to join a fast-growing computer peripherals company before joining the Spanish-language TV giant

Of the NBA’s 30 teams, three have female CFOs, including alumna Jennifer Cabalquinto. She takes pride in serving as an example for other women executives in professional sports.

her position would probably be eliminated as a result of the ownership change, she was surprised when NBC asked her to move to Los Angeles to serve as Vice President of Finance for the network’s three L.A.-based TV stations.

By 2007, Cabalquinto was ready for a new challenge. The CFO position at NBC Universal Studios came open and, despite “not knowing anything about the theme park business,” she got the job. “It was a mature business in the middle of a recession,” she remarks. But through a series of process engineering projects that “looked at every facet of the business,” the park grew its bottom line while achieving record-high guest and employee satisfaction scores. It’s a feat Cabalquinto calls the “holy grail” of business and something in which she’s proud to have taken part.

A change of plansWhen Comcast announced it was buying Universal Studios, Cabalquinto wasn’t

Telemundo, in 1997, as Manager of Financial Planning and Analysis.

Learning Spanish and watching novelas“Telemundo was a great, great ride,” says Cabalquinto. “Spanish TV is very interesting — it very much serves a community, and the people who work there are extremely passionate about it,” she adds. Cabalquinto speaks “only some broken Spanish,” and recalls watching hours of the station’s novelas with a Spanish-English dictionary at hand. “If I didn’t, I’d lose out on the water cooler talk the next day. Fortunately, most of the shows are so overacted, I could get the gist of them even if I couldn’t understand every word,” she laughs.

While she was there, Telemundo was acquired by Sony and was then bought by NBC in October 2001. By then, Cabalquinto had risen through the ranks to become CFO of the Telemundo Station Group. Thinking

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Media & Entertainment: Poised for a new wave of growth

John Nendick, EY Global Media & Entertainment Sector Leader

In this section, we profile two EY alumni, Jennifer Cabalquinto, CFO of the NBA’s Golden State Warriors, and Jimmy Barge, CFO of Lionsgate. These accomplished individuals are very successful in two very different arenas, sports and film and television. However, there’s one thing their businesses have in common: both companies are seeing their fortunes changed by digital. The Warriors are putting digital at the forefront of their fan experience, in the stadium and out, while Lionsgate is exploiting a rapidly expanding array of digital platforms to diversify its revenues beyond the traditional business.

While digital has certainly been disruptive, it also provides tremendous opportunities for

media and entertainment (M&E) companies to grow revenues in whole new ways. M&E companies’ digital revenues — while still small compared to traditional revenues — are growing rapidly.

Digital is helping M&E companies reach new consumers around the world that were practically inaccessible just a few years ago. According to EY’s latest research, Riding the new wave: Are you ready for accelerated digital media adoption?, nine of the leading emerging markets will add one billion new broadband connections by 2016. This proliferation in access will vastly expand the demand for content and M&E services and create a “new wave” of growth led by digital.

Opportunities bring challenges Of course, with digital opportunities come challenges, and M&E companies are reshaping their organizations to accommodate change, from devising new customer strategies and managing digital assets across platforms to efficiently structuring the back-office functions that support the organization.

In EY’s most recent CFO study, CFOs cited three principal challenges as they transition to digital: deriving meaningful insight from the mountains of data they collect from their customers; accessing management information in real time to support better and faster decision-making; and getting consumers to pay “fair value” at a time when many expect digital to be “free.”

Organizations like the Golden State Warriors and Lionsgate — having made digital a part of their DNA — will continue to drive digital innovation. We are proud to have Jennifer and Jimmy as EY alumni, and we look forward with great anticipation to their impact on the fast-changing M&E industry.

To learn more about EY’s Digital Media Attractiveness Index and our DiMAx customizable tool, visit ey.com/ridingthenewwave

Download our latest reports at ey.com/mediaentertainment

sure she was up for yet another corporate transition. In October 2011, she left Universal to spend a year as a stay-at-home mom and later went back to work for a private equity firm. Then, in February 2013, her husband, Howard, was promoted to president of a Tampa-based company. The two had decided to move to Tampa and were already house-hunting there when the recruiter called about the Golden State Warriors opportunity. “When I got off the phone, I immediately called Howard,” recalls Cabalquinto, “and he just said, ‘You know you’re going to get that job.’”

Thinking about that call, Cabalquinto is surprised she didn’t see the synergies more readily. “I have experience in entertainment, I know about selling tickets and food and merchandise, I deal with talent contracts and unions — I had more in common than I thought,” she states.

A golden opportunityCabalquinto “couldn’t have picked a better time” to join the Warriors. As of this writing,

the team tops its division and has the best record in the entire NBA. Also, its owners recently announced plans to move from its rented facilitates in Oakland, California, to a new, 100% privately financed arena in Mission Bay in San Francisco. The move will be much more than just geographic.

“It’s going to be a huge change,” notes Cabalquinto. “Right now, we host 41 regular-season games plus playoffs, and there’s always a buzz — an excitement — around the office on those days. When we move into our new arena, we’ll be doing something nearly every day. And between now and then, we need to create the infrastructure, processes, data and analytics, and technology and systems to support that. Every day will be ‘game day,’ and I know what that looks like.”

In the zoneLooking ahead, Cabalquinto thinks she’s in the perfect spot. “The NBA is hot,” she says, “and because of the speed of the game, it’s really on target with how millennials

and future generations want to consume entertainment.” She points out that the Warriors, because of their proximity to Silicon Valley, also get to serve as “a sort of petri dish” for cutting-edge entertainment technologies. The team has already partnered with Yahoo, Facebook and Twitter on such endeavors, she notes.

Reflecting on her career, Cabalquinto appreciates the wide variety of experiences and the “instant credibility” her early career with EY gave her. She’s also extremely thankful to her parents for the risks and sacrifices they made for their children. “I see life as a triangle,” she reflects, “and the broader the base, the higher the point can be.”


JimmyBarge

Lionsgate CFO and EY alum Jimmy Barge says that providing “content” to distributors who are “essentially fighting for viewership and ratings” requires his company to be “nimble and quick in a landscape that’s evolving every day.”

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A starringrole

Jimmy Barge’s life changed when he came to EY. And as his career progressed, the EY connection was never far away.

There’s no business like show business, as the song says.

Jimmy Barge, former EY partner and CFO of Lionsgate, would have to agree. In his journey to the C-suite of a leading global entertainment company, Barge zigzagged across and beyond the US for a variety of professional opportunities before moving into the media and entertainment industry.

Barge does not take his career success for granted. “I’m very appreciative of my experiences with EY,” he says. In fact, he is certain that he could have been happy staying with the firm for his entire career, but he was destined for different opportunities. However, he adds, “none … would have been possible if not for the opportunity granted to me to join the firm right out of college and really build my experience within such a professional environment.”

words: Anne Lampert photos: Robert Thomas


A starring role — Jimmy Barge

Barge genuinely enjoys his work at Lionsgate, a leading global entertainment company with 20 Academy Awards and 21 Primetime Emmy Awards to its credit. The company is the producer of wildly popular motion picture franchises like Hunger Games, Divergent and Twilight, as well as critically acclaimed TV series such as Mad Men and Orange Is the New Black. Barge notes that despite the company’s US$4b market capitalization, there are just 650 employees, which, he says, contributes to an entrepreneurial environment where

“We’re large enough to have significant financial capacity and opportunities to drive shareholder value, but we’re small enough to execute innovative ideas quickly.”

creative ideas are welcomed. “We’re large enough to have significant financial capacity and opportunities to drive shareholder value, but we’re small enough to execute innovative ideas quickly. Everybody’s engaged,” Barge remarks.

A life lesson Having grown up in a blue-collar family, Barge’s entry into EY’s Atlanta office opened up a whole new world. One of his fondest early memories is centered on Mike Trapp, who was the Office Managing

Partner at the time. Barge tells this story when he speaks to college students at his alma mater, the University of Georgia:

“Mike walked into the staff room, where some colleagues and I were sitting. Mike told us, ‘I just read an article and want to share it with you all because I believe it’s so important.’” Then Mike said that what he was reading pointed to the importance of getting one’s priorities straight.

Barge continues: “The first priority is your faith. Mike explained that it’s not necessarily about a particular religion as

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much as a foundation that gives you the conviction to do the right thing. Then Mike said that the second is your family. He concluded by saying that you must get the first two priorities right in order to take care of the third, which is your career.” Barge treasures the moment he received Mike’s advice, and he tries to apply it to his own life and pass it on whenever he can. “So many of us have spent more time at work than with our faith or our families,” he notes. “It was great to hear Mike, one of our leaders, remind us that your faith and your family can provide you with the tremendous support that allows you to excel in your career.”

Man on the move Barge’s career at EY was multi-faceted, with a number of distinctive growth opportunities. When he joined EY in 1978, he initially served a wide variety of clients, including a large insurance company. After a short time, he was accepted into the firm’s international exchange program and spent about a year in London, which was “a fantastic learning opportunity.” Then he returned to the Atlanta office, where he was assigned to The Coca-Cola Company, a landmark account.

On becoming a senior manager, Barge was nominated for the two-year Professional Accounting Fellow program at the Securities and Exchange Commission (SEC). He was accepted into the program, which involved moving with his wife, Susan, and two children, Andrew and Jamie, to Washington, D.C., and working in the Office of the Chief Accountant. On returning to the firm in 1990, Barge was made partner. He remained in Washington, working in the National office and reporting to retired partners Tom Milan and Bob Herdman. At the time, Herdman led Accounting and Assurance while Milan served as the head of EY’s SEC practice.

Two years later, as Silicon Valley was racing to become the world capital of IPOs, Barge transferred to the L.A. office. Working

In addition to serving some of the top names in the entertainment field, EY also plays a supporting role in the award tabulation process for the Golden Globe Awards® and the Primetime Emmys®. Holding tabulation results at the most recent Golden Globe Awards are EY Media & Entertainment team members (left to right) Andy Sale, Karen Angel and John Nendick. Also pictured is NBC Today weatherman Al Roker.

On the red carpet

“ We’re constantly in search of our audience and how to entertain them.”

on SEC matters, he found a “red hot” environment as part of a team that covered the entire West Coast. He also moved into client service again — this time on the Warner Brothers account — his first foray into the media and entertainment sector. Later, two former partners — John LaBarca and Rich Bressler — who had moved to Time Warner, convinced Barge to join them in the industry. It was a difficult choice, but Barge decided to take it. He joined Time Warner in 1995 as Assistant Controller and stayed with the company for 13 years in a number of executive positions, culminating in SVP, Controller and Principal Accounting Officer.

In demand, Barge moved to Viacom in 2008, where he held the position of CFO and Executive Vice President, Controller, Tax and Treasury. Five years later, the CFO of Lionsgate retired and the company asked Barge to take the job. With a terrific track record of financial stewardship for some of the world’s leading media and entertainment companies, Barge was the natural choice.

Getting the show off the groundEven as a veteran of the media and entertainment business, Barge still thrives on its ever-changing dynamic. “Just as styles come and go, we’re constantly in search of our audience and how to entertain them,” Barge says. And that’s shifting every day, not only in terms of what content appeals, but also the distribution platforms and the technologies. “Our distribution platforms — broadcast, cable and satellite, Hulu, Netflix, Amazon — are changing every day, but it’s very engaging and fun,” he remarks. Barge especially likes being able to shape a business model around the creative process and see the end-product — whether it’s on the big screen, on TV or on a mobile device. “At the end of the day, it’s tremendously rewarding to see projects that you’ve had a hand in getting off the ground.”


Richard Jones

Words: Rich Jones photos: Jonathan Gayman

A call toAction

Earnings season is in full swing, and many of us in the corporate world are busy refining our business strategies for the new year, preparing financial statements and attending to the details of our 10-K filings and related SEC disclosures. While we address business as usual, many of our nation’s brave veterans are facing a very difficult transition back to civilian life after nearly 13 years at war, as does every generation after prolonged conflict.

Their difficulties can be traced to something we can all relate to. Can you imagine how

you would fare if you lost your job and, as a result, your identity and your economic mobility? Such great uncertainty would surely crush any one of us. The issues that veterans face are a microcosm of the issues facing our nation: a stagnant economy, a stagnant job market and uncertain monetary/fiscal policy, as well as a dysfunctional regulatory/legislative process.

Many of us are very well-versed in financial metrics: earnings per share, return on investment, cost of capital and P/E ratios are ingrained in our consciousness.

My point of view

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“ As a country, as a business community and as an EY alumni family, let’s look beyond merely thanking our nation’s veterans for their service and find impactful ways that we can all make a difference in their lives.”


More about Richard Jones• Executive Vice President, General

Tax Counsel and Chief Veteran Officer at CBS Corporation

• Former Vice President, Senior Tax Counsel and Assistant Treasurer at GE (NBC Universal)

• Former law clerk, State of New York

• Member of the U.S. Department of Labor Advisory Committee on Veterans’ Employment, Training and Employer Outreach (ACVETO)

• Member of the Corporate Counsel, Tax Policy and Mergers & Acquisitions/Joint Ventures Committees of the New York State Bar Association

• Board member of the Wounded Warrior Project, the Institute for Veterans and Military Families (IVMF) at Syracuse University, USJAG (Uniformed Services Justice and Advocacy Group), the Easter Seals Dixon Center for Military and Veterans Community Services and the Aaron Grider Foundation

• Advisor to Veterans Advantage and ACT Today! (Autism Care & Treatment) for Military Families

• Member of the Corporate and Partnership Taxation Committees of the American Institute of Certified Public Accountants

Jones testifying before Congress in support of the VOW to Hire Heroes Extension Act of 2012 (S. 3536).

U.S. Army Staff Sergeant Rich Jones as Infantry Squad Leader of the 10th Mountain Division at Ft. Benning, Georgia (circa 1987).

So, as numbers-oriented professionals, please consider the following:• There are 22.5 million veterans in the

United States (7% of the population).• There are 2.8 million post-9/11

veterans in the United States (1% of the population).

• 20 to 30 veterans commit suicide each day — that is one suicide every 65 minutes.

• 20% of this generation of veterans suffer from post-traumatic stress, and 20% suffer from traumatic brain injury.

• 70% of veterans who go back to get a degree in higher education do not complete the program.

• Post-9/11 veteran unemployment (ages 18–34) is well over 10%.

• The cost to care for our veterans rises for several decades and normally peaks 30 to 40 years after the war. The total present value of the costs for care of the veterans of Iraq and Afghanistan over the next 40 years is projected to be somewhere above US$1 trillion.

nobly answered the call of service after the events of September 11, 2001. They and their families face significant challenges as they transition to civilian life. Where is the accountability to honor our obligations to those who have served?

The federal government spends over US$250 billion per year to provide various services and support to veterans. As taxpayers, we should demand more for the resources being spent. If this were a shareholders meeting, given the statistics I have cited above, we would demand that

Clearly, the debits don’t always equal the credits.

In the business world, we focus on maximizing the return on investment. But what of the taxpayer-funded US$20 billion per year that is spent by the Department of Defense to train our brave men and women in uniform? Our armed forces are the best trained and the most educated in history. They are our finest; they serve under the most difficult circumstances and are trained to overcome adversity and accomplish any mission. In the civilian world and, in particular, the corporate world, we don’t fully appreciate or take advantage of this talent. Any form of wasted human capital is unacceptable and, in this case, it makes no business sense, either. The question we have to ask as business leaders is, “Are we maximizing the return on investment?” We need to monetize and maximize our nation’s greatest natural resource, our military veterans.

In the business world we speak of accountability. But what of our commitment to our nation’s 22.5 million veterans, especially the 2.8 million who

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A call to action — Richard Jones

management (at a minimum) change course. But I fear it will only get worse. The federal government’s uncertain fiscal trajectory is forcing policymakers to confront difficult choices related to funding priorities. In addition to the 2.8 million post-9/11 veterans, there are another 1.5 million who will be transitioning from active duty over the next three to five years.

We are all acutely aware of the Sarbanes-Oxley Act, which was enacted to provide higher levels of accountability in Corporate America. I think we need a Sarbanes-Oxley equivalent to ensure that our government is more accountable to our brave and selfless veterans.

In the business world, we are well-versed in many of the aspects of financial security. But what of our national security? The Armed Forces of the United States are an all-volunteer force. They are the smartest and best-trained military in the history of the world. President George Washington often said that the willingness of our young people to serve in the military would be directly proportional to the way they perceive how veterans of earlier wars were treated and appreciated by their nation. The question is, who will answer the call in the future given how difficult a time this generation is having after 13 years of war and sacrifice?

As the Chief Veteran Officer of CBS Corporation, I have the pleasure of working with many outstanding veteran advocates across the country to find solutions to these difficult issues. There is a great sense of pride and excitement when they hear that Corporate America is making an unwavering commitment to assist our nation’s veterans and their families. Their common response is, “What can I do to help?”

This question hits close to home and reminds me of my own difficult transition from the Army many years ago. Without a doubt, I would not be where I am today if it had not been for the help and guidance of so many mentors who saw something in me that I did not see in myself. Because of them, I went from being an enlisted Army Ranger who was medically retired after nearly six years of honorable service, to someone who went back to school,

obtained a world-class education and became a CPA and lawyer; who worked at EY, then at GE; and who now has the amazing good fortune to work for CBS Corporation as its General Tax Counsel.

Unfortunately, many of our nation’s veterans do not have the support and mentoring that is so critical to a successful transition. Despite being amazingly skilled and talented, many are struggling to gain traction in today’s competitive marketplace. Gainful employment, advanced training and education, general upward economic mobility and a chance at the American Dream are all they ask for. They are now looking to us for inspiration. How will we respond? They need our energy and passion in addition to our gratitude and compassion. Our sacrifice has to be equal to theirs!

With stock markets reaching new highs, let’s make sure to remember the nearly 2.8 million post-9/11 veterans who are currently in some form of transition after serving our country so bravely. Their dedication and sacrifice remind us all that the highest expression of citizenship is military service. They continue the great legacy of those who came before them and built this great country. While they were in harm’s way protecting our way of life, we have been able to focus on the capital markets, our shareholders and our prosperity.

As a country, as a business community and as an EY alumni family, let’s look beyond merely thanking our nation’s veterans for their service and find impactful ways that we can all make a difference in their lives. Let’s ensure that their sacrifices and those of their families are never forgotten, and that this great country is doing all it can to promote their well-being. Like those who have come before us, let us answer this call to action!

Richard M. Jones Executive Vice President, General Tax Counsel & Chief Veteran Officer CBS Corporation

Supporting our vets

Every day, our veterans contribute to EY’s success. Veterans make great employees — their military experience provides them with the leadership skills, confidence and teaming abilities that can be gained few other places. And here are some of the ways EY returns that support:• The EY Veterans Network — a professional

resource network created by our veterans to help them connect and support one another within EY. The network comprises more than 600 members from all branches of the Armed Forces, including many spouses and children of veterans.

• 100,000 Jobs Mission — EY is part of this coalition of leading corporations committed to hiring 100,000 transitioning service members and military veterans by 2020.

• Support of think tanks such as the Institute for Veterans and Military Families (IVMF) — This interdisciplinary organization seeks to address the economic and public policy concerns of our nation’s service men and women. Through EY fellowships, select professionals contribute their expertise pro bono to IVMF for several months a year.

• Entrepreneurship Bootcamp for Veterans’ Families — EY is a founding sponsor of this organization, which provides support to military family members who find themselves in a full-time role caring for a wounded warrior, as well as to the surviving spouse of a fallen hero.

In addition, EY assists veterans in our local communities and across the country through sponsorship of a variety of other veteran-related activities and causes.

“The men and women who serve in the military never hesitate to give more, inspiring our firm to continually seek new ways to strengthen its support of veterans and honor their commitment to our country,” says Joe McHugh, EY Veterans Network founder and co-leader.

For more information, contact Joe at [email protected].


Atlanta Alumni Council member Adrienne White has always had a love for accounting, but found an outlet in running, which possibly saved her life.Adrienne White, former EY senior, now Finance Manager for Corporate Marketing at The Coca-Cola Company, is used to the fast track. As an undergrad at the University of Virginia, she knew she’d be a CPA. She interned at EY, joined in 2003 via a program that funded her Master’s in Accountancy, and then sat for the exam. But a rare illness struck when she was just 28 years old, potentially requiring a medical treatment with a 70%

survival rate, and she had to adjust her pace. The accountant in her calculated a 30% chance of dying. The survivor in her counted it a special opportunity to appreciate life, get back on track and run for it — literally.

Running saved my life With a renewed zest for life, she created a “bucket list” of 30 things to do before turning 30. Top of her list? To run the Atlanta-Journal Constitution Peachtree Road Race, one of the world’s largest 10k races, with some 60,000 runners. Why do it, when she distinctly recalled “hating” the running challenges her former EY team tried to engage her in every busy season? She thought, “Let me just cross this thing off my list and be done with running!” But in the course of training, White discovered that running “saved my life, in

In focusNoteworthy Alumni

Council members Adrienne White and

Kim McGarry keep alumni connected

Our network of 22 Alumni Councils, comprising more than 400 of your fellow EY alumni, help us stay connected. In recognition of their contribution, we want to introduce you to some of our Council members who are truly helping us carry on the spirit of high-performance teaming.

Running economy:

inhale, excel

words: Eboni Thomas photos: Chris Savas

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“ Running saved saved my life, in the sense that it helped me understand what it means to truly set a goal, be really dedicated to it, and then to cross the finish line.”

AdrienneWhite


the sense that it helped me understand what it means to truly set a goal, be really dedicated to it, and then to cross the finish line.” Upon completing the race just before turning 30 years old, she discovered, “I kind of like this running thing.”

In fact, she liked it so much, she went for a half-marathon next: 13.1 miles. Feeling the need for support and “not seeing many runners that looked like me,” she wondered if any other black women would be running. A Google search revealed a website called “Black Girls Run,” a grassroots organization with the mission to encourage African-American women to make fitness and healthy living a priority, particularly through running events. The group just happened to be having a meet-and-greet before the race. So she teamed with them. White admits the race was tough. By mile eight, she was thinking, “I hurt all over. Why did I sign up for this?!” But by the finish line, she felt awesome.

When the cofounders of Black Girls Run asked some of the women who’d joined the initial meet-up to help launch run groups in various cities, White was on board. Through Facebook and social media, she and others helped the groups grow from 10 women to more than 15,000 members in Atlanta alone. Nationwide, the organization has a reach of over 150,000 runners. White now serves as a regional ambassador for the organization, managing a team of about 40 women across Alabama, Florida, Georgia, Mississippi, Colorado and Oklahoma.

Why run? “You have to invest in yourself, and taking time to live healthy will increase your chances of living a long, full life,” she says, noting the majority of Americans are overweight and at-risk for heart disease, diabetes and other illnesses linked to obesity. She says women, in particular, tend to put other people before themselves, neglecting their own health. Her philosophy: “If you don’t do it for yourself, then do it for somebody else, so you can love your family and your friends a lot longer.”

An auditor at heart White recognizes that being an EY alum is a choice credential: “You can’t be at EY for four years and not have a certain level

of competency, maturity, and just be well-versed in audit and process,” she says. “In any organization that I join, I implement those types of things, and my work ethic came from my time at EY. I feel like it still runs through my bones. No matter what I do, I’m still an auditor.” She loves “the story of numbers” that is auditing. How does something start? Who touches it? How is it approved? Those questions occupy her thoughts when she’s not running.

As a member of the EY Atlanta Alumni Council, White sees value in the Council’s ability to keep EY relevant to alumni and the marketplace. “Alumni go on to be amazing people in the business world,” she explains. “There’s a standard, a level of quality that comes out of EY.” White became involved with the Council when Connie McDaniel, Chief Internal Auditor at The Coca-Cola Company, also an EY alum, took notice of her active involvement in the Atlanta community and asked her to join.

Nurturer by natureWhite is involved in several community-focused boards centered on leadership development of others. It’s a wonder she still finds time to run, but she does — up to 30 miles per week when training. For her, it’s an outlet, permitting her time to unplug from everything. When email or Facebook announcements arrive, she might be far, far away from electronic devices. “It’s radio silent,” she says, “and then I log back in, and it’s like: whoosh!”

She recently became board chair of Georgia’s WIN List, a political action committee focused on recruiting and training women to become candidates for leadership roles and to support those already in office. “I know what it’s like to feel helpless, and I want to use this second lease on life to empower others, particularly women. I use my ability to connect with people, to advocate for them, to push them in a good direction.”

Where will White’s strides take her? “I have no idea,” she smiles. “And the older I get, the more comfortable I am with that. Planning is not bad, but knowing that each day holds unplanned opportunities is even more exciting to me.” Leaving the

corporate environment is too risky, she says, but she has an entrepreneurial spirit. “I like to inspire people, and I like to do that for causes that are important to me.” Whether supporting women to run for office or marathons, she’s sure to hit the ground running.

“ Alumni go on to be amazing people in the business world. There’s a standard, a level of quality, that comes out of EY.”

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Issue # – Month Year

KimberlyMcGarryHow to be a VIP:

values integrity people

Chicago EY Alumni Council Chair Kimberly McGarry had her mind set on becoming a CFO by 2018; as the recently appointed CFO of the Options Clearing Corporation, she’s three years ahead of schedule.Rewind to 1996: Kimberly McGarry started her nearly 14-year career at EY as a member of the firm’s financial services team. She advanced to senior manager and then left EY to become the Chief Accounting Officer at First Midwest Bancorp, Inc.

“You have to invest in your people. You have to coach them … develop them … train them. At EY, I learned a lot about the importance of doing that.”

words: Eboni Thomas photos: Jon Gayman



Fast forward to 2014: McGarry was expecting to assume the role of Chief Financial Officer at First Midwest within a few years. But the world had other plans for her: she received a call from a recruiter, telling her about the CFO opening at the Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization.

Values: courage to leadThe recruiter saw McGarry as a strong leader with a wealth of relevant experience in accounting and finance. McGarry agreed to meet the Chairman and the President of the OCC, which was then embarking on significant organizational change while also working to meet the financial markets’ evolving regulatory landscape. “I really got a good vibe from management in terms of what they were trying to achieve,” says McGarry. “They were looking for someone to help them and be a partner in that whole process.”

Operating under the jurisdiction of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the OCC provides central counterparty clearing and settlement services to 16 exchanges and trading platforms in the US. “After the 2008 financial crisis and the enactment of Dodd-Frank, the OCC was designated as a systemically important financial market utility, or SIFMU,” she explains, “which is akin to a ‘too big to fail’ type of designation — critical to the daily operation of global financial markets.”

What exactly does that mean for the OCC? According to McGarry, “As a market utility, the concept is very similar to that of a too-big-to-fail public banking organization: the organization has to abide by new regulatory scrutiny — higher expectations from the regulators and market participants — to be a resilient

organization that can withstand market stresses. So the OCC has been going through a lot of change to continue to grow and evolve, with the objective not just to meet but to exceed these new expectations — to set a higher bar.”

Integrity: adapting to changeThe “higher bar” standards ingrained in McGarry during her tenure at EY contributed to her readiness to accept the new position. “The CFO role is certainly a step up for me,” she says, “and it happened to come a little earlier than I had imagined.” However, she embraces the challenge and relishes being part of an organization looking to move forward and evolve.

“When you work in public accounting, either your clients’ businesses are changing, the accounting rules are changing, or your client assignments are changing,” she points out. “I’m used to an environment where you’re consistently facing change. I find it challenging — exciting.”

McGarry’s biggest lesson learned from her time at EY is to “be responsible for your own career and destiny.” The biggest asset she sees at EY: “It’s the people.”

People: art, not scienceMcGarry believes that people management is critical to building a successful team. “Not everybody is born to be a good people manager,” she remarks. “It’s an art. It’s not a science. And it’s something that I keep working on. It’s something that takes a long time to develop and become good at. I think I’ve had a lot of good opportunities to hone that skill, and to learn about how important it is to the effective functioning of a team.”

Investing is a must. “You have to invest in your people. You have to coach them. You have to develop and train them. You have to support them,” she says. She believes

the long-term success of any organization depends on a culture where experience and knowledge are shared, where people feel valued and where everyone can see a development path. “At EY, I learned the importance of investing in people and how to do it.” And so she does. “I take coaching and the development of my staff very seriously, because people did that with me at EY, which is how I was able to grow and develop and advance. So I need to do that same thing for others.

“At EY I learned how to interact with different types of people and personalities and teams within the firm and at clients,” McGarry notes, “and how to adjust my style to be successful.” Her people skills obviously had an impact on people at EY. “About six months after I left the firm, Kelly Grier (Americas Vice Chair — Talent) asked if I’d be interested in joining the Chicago Alumni Council,” says McGarry. “I had worked with her on the Professional Women’s Network when I’d been at the firm.” Soon, she was asked to be a Council co-chair with Bruce Mantia, and shortly after, he announced he was leaving Chicago and retiring from the Council. So once again, McGarry proved ready for a move-up earlier than expected.

McGarry and her husband, Michael, a native Australian and fellow alum, have been married for 12 years. The two met when McGarry was on a two-year secondment to Melbourne, Australia. They have two daughters, ages eight and three. Balancing her family, her career, and her work with the Alumni Council, as well as with the Chicago Finance Exchange (a business organization for women in finance), helps McGarry appreciate some of the simpler things in life: “Disney is very influential in our household,” she laughs, “We greatly value our trips to Walt Disney World.”

“Not everybody is born to be a good people manager. It’s an art. It’s not a science. … It’s something that takes a long time to develop and become good at.”


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What are EY alumni talking about?Find out by joining EY Alumni US (official) — the LinkedIn group exclusively for US alumni and current EY people.


Join the group. Join the discussion. EY Alumni US (Official)

In addition to engaging in discussions with your former EY colleagues, joining the only official EY LinkedIn group in the US will allow you to:• Learn about upcoming alumni reunions and

events in your area• Get information on free or discounted learning

opportunities — live and virtual• Gain access to thought leadership publications from

EY, as well as your fellow alumni • Post jobs and learn about career opportunities submitted

by fellow EY alumniMost importantly, when you join the group, you are helping to expand and strengthen the EY Alumni community — one of the most powerful networks available — and a rich resource for growing your own professional and personal network.

How to join:• Go to LinkedIn (www.linkedin.com). You will need to

create an account if you don’t already have one• Search for “EY Alumni US (Official)”• Click the yellow “Join” button• That’s it!

Note: If you are currently registered on the EY Global Alumni portal (alumni.ey.com), you will be immediately admitted to the group. If you have not registered on the EY Global Alumni portal, we ask for your patience while we verify your EY alumni status, which may take several days. To protect the integrity of the group, only verified Ernst & Young LLP alumni of the US firm will be admitted to group membership.

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As EY becomes an increasingly global organization, so does our alumni network. In these pages, we highlight some of the activities of our alumni relations efforts across the globe.

Alumni relationsaround the world

Cathedral in San Martin Plaza, Córdoba

Monument of the Two Congresses in Buenos Aires

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ArgentinaAlumni “always belong”

More than two decades ago — well before any formalized, global alumni relations programs existed at EY — our Argentine professionals foresaw a need to create a “community” of former partners and employees. So they coined the motto, “Alumni, ser parte siempre” (Alumni, belong always) and set about creating a network to keep EY alumni in Argentina connected over time.

Today, that network has grown to nearly 3,000 people in Argentina alone — alumni who will soon be able to connect with hundreds of thousands of their fellow alumni when the EY Global Alumni Portal is fully deployed. Argentine alumni also have the opportunity to stay connected through a number of networking opportunities hosted by EY throughout the year. These

Classified as a “middle emerging economy,” a member of the

G20 economies, and one of the world’s top developing nations,

Argentina is a country on the rise. And so are EY’s alumni

relations efforts there.

EY Argentina practice at a glance• Offices in Buenos Aires

and Córdoba

• 1,800 people

• More than 50 years of continuous growth


Alumni around the world — Argentina

Message from Michael J. DeStefano, EY Global Alumni Executive Partner

I’ve been meeting and talking with our EY alumni and alumni teams from all over the world — and what a pleasure and honor it has been. By the time you read this, I will have just returned from Hong Kong and Singapore where, in addition to client business, I will have met with our alumni team as well as EY Asia-Pacific leadership.

I’m also excited to have recently had the opportunity to speak about the power of alumni relations before EY’s Global Practice Group (GPG), a contingent comprising our Regional managing partners, functional leaders and executives from around the world. I co-presented to the GPG with Jacek Kedzior, Managing Partner for EY’s Central and Southeast Europe Region. Together, we helped EY’s Area, Region and country leaders truly appreciate the local impact a strong, global alumni relations program can have on our culture and business. Our presentation drove home the role alumni relations play in delivering on our employee value proposition: whenever you join, however long you stay, the exceptional EY experience lasts a lifetime.

In January, I was invited to our Global Talent Leaders meeting in Miami. It was a great opportunity to present our Global Alumni Strategy to this crucial internal audience. I firmly believe the key to the success of the alumni effort is ensuring the collaboration between EY’s three primary functions — Markets, Talent and Brand.

Finally, I spent time with alumni in California and with Pat Niemann, our Los Angeles Managing Partner and West Region Alumni Executive Sponsor. To achieve our goal of building a best-in-class alumni relations program at EY, I feel it is imperative for me to meet with, listen to and understand the needs of our alumni, as well as EY leadership. It’s been a fascinating journey so far, and I greatly appreciate all the input, support and encouragement I continue to receive from so many of you. I welcome your thoughts and advice.

culminate with an annual reunion held each November in Buenos Aires. The most recent annual event attracted more than 700 alumni from across Argentina, including the leaders of many of the country’s top companies.

According to Ricardo Furman, EY Argentina Alumni Director, the Alumni Program in Argentina is considered a “strategic resource and a tool to reinforce, unite and foster the pride of belonging.” Not only does the program serve as a powerful network for alumni but, as Furman notes, it helps EY build its brand in the community, identify and engage in new business opportunities and even serves to make it easier for alumni who wish to return to EY. Says Furman, “It’s definitely a win-win.”


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Each year the annual alumni reunion in Buenos Aires attracts hundreds of EY alumni from all over Argentina.

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Eduardo CoduriArgentina Country Managing Partner

Eduardo Coduri was appointed EY Argentina’s Country Managing Partner on 1 July 2014. He joined EY in 1984 after graduating as a Public Accountant from the University of Buenos Aires. Coduri was appointed Audit Division Head in 2002 and served as Country Managing Partner until 2006, when he became EY’s South America Region (SAR) Assurance Managing Partner, a position he still holds.

What are some of the key opportunities and challenges you are seeing in your part of the world?Our business in Argentina is showing steady growth in all our service lines. We have ambitious plans for the future, even though the current economic situation in Argentina and the region is challenging because of a deceleration in the emerging economies’ growth expectations. However, we see opportunities for continued growth in every service line as we consolidate our leadership position in each market: there is widespread demand for tax, human resource, advisory, fraud investigation, transactions, logistics and IT advisory services.

What developments are you most excited about?Regarding industry segments, we believe that mass consumption, infrastructure development and businesses related to agricultural, oil and mining activities will continue to grow, despite the decreasing prices of certain commodities, such as oil and cereals. In addition, we expect that financial intermediation activity will pick up as the area shows considerable potential for growth compared with the world average.

How is EY Argentina helping to build a better working world?What sets us apart in the market and allows us to contribute to building the business world is the talent of our people and the depth of knowledge we offer. Our role in providing jobs and shaping young professionals is also significant. We are proud of developing and promoting interdisciplinary teams of people with extensive and proven experience in their fields, who help our clients on their road to success.

There are growing demands on our clients, to whom we offer high-quality assistance; our services help them expand their businesses. Therefore, we have put in place investment plans aimed at identifying and training talent, offering in-depth training and benefits to our personnel. We foster a culture of diversity and inclusion, offering locally developed programs closely aligned with those of the global EY organization and the plans for the Americas.

In addition, we are committed to sustainable development. We promote innovation and leadership, and we firmly believe that cultivating and rewarding the enterprising spirit is key to strengthening our community.

Why are alumni relations important to you personally, and to your practice?EY is committed to building long-lasting relationships with our people. We encourage and celebrate creative ideas, provide young people with experience and offer extensive opportunities for our professionals to enrich and advance their careers, both within EY and in the companies where they may continue their journeys.

Our goal is to develop leaders, and we are gratified that so many of our alumni hold key positions in Argentina’s top companies today. That is why we believe it’s important to keep our alumni connected, and to keep EY connected with our alumni, by fostering the relationships we built together while they worked with us.


Our more than 250,000 EY alumni across the Americas are always on the move. In this section, we highlight some of the recent promotions, appointments and other achievements of your friends and colleagues.

Alumni news

Subramanian writes business transformation book

Satish Subramanian has authored Transforming Business with Program Management, published by Taylor & Francis Group. The book offers a pragmatic approach for those involved with large-scale transformation programs. World-renowned Harvard Business School professor F. Warren McFarlan calls it “a practical guidebook that balances both the art and science of program management.”

Michael G. Atieh has been appointed Executive Vice President, Chief Financial and Business Officer and Treasurer of Ophthotech Corporation, a biotech firm developing therapies for age-related macular degeneration.

Julie Averill has been promoted to Vice President of Information Technology for REI.

Ronald Benjamin has been named Executive in Residence for Accounting Management Solutions, Inc.

Laura Bishop has been promoted to EVP and CFO at USAA. She most recently served as USAA’s SVP and Deputy CFO.

Jay M. Bornstein has been named to the Board of Trustees of the Madlyn and Leonard Abramson Center for Jewish Life.

Kennon Breaux has joined Community Coffee Company, the largest family owned and operated retail coffee brand in the US, as Director of Accounting and Treasury.

Scott Brown has been appointed Global CEO and President of Cornerstone Real Estate Advisors, one of the largest global real estate investment managers, with

over US$42 billion in real estate assets.

Curtis Buser has been named CFO of Carlyle Group LP, a global asset management firm specializing in private equity. He served as the private equity firm’s CAO from 2004.

Bruce Chalmers has been promoted to CFO of Milacron LLC, a plastics-processing equipment, technologies and services company. He previously served as the company’s VP-Finance.

Gregory Conaway has been appointed VP and CAO of Carrizo Oil & Gas Inc.

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Robert Daddow has been appointed to the board of the Great Lakes Water Authority. He currently serves as the Deputy County Executive of Oakland County, Michigan.

Rhea Kemble Dignam has been named Senior Counsel to the Director of the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE). She joined the SEC as the Atlanta Regional Office director in 2010.

Charles Dockendorff has joined the board of directors of Keysight Technologies, Inc., the spinoff electronic measurement company of Agilent Technologies. He

also serves on the board of directors of Haemonetics. Dockendorff is the former EVP and CFO of Covidien plc., a global health care products company.

Mark Donohue was elected chairman of the board of directors of the National Investor Relations Institute (NIRI). Donohue is VP, Investor Relations and Corporate

Communications for Impax Laboratories, Inc., a pharmaceutical company.

Kevin GrantHead of Accounting & Controls, Samsclub.comWalmart Global eCommerce

Level at departure: Senior Manager

Last EY office: San Francisco, CA

Current residence: San Francisco, CA

Most valuable lesson I learned at EYPutting yourself in your client’s shoes is the only way to provide great client service. I am always reminding myself to stop and think about an issue from someone else’s perspective.

EY’s impact on my careerEY provided me incredible opportunities to live and work abroad. I lived in the UK and the Netherlands and spent significant time in Russia, China and Ukraine. It helped me appreciate how inter-connected our global economy truly is.

To me, being an EY alum meansAlways being connected to my former EY colleagues; taking pride in our mutual experiences at a great firm; and having access to a tremendous network and incredible career opportunities.

How I’m helping build a better working world Walmart has a strong culture of civic engagement, and as part of that, I’ve volunteered with Junior Achievement and Glide Memorial Church in San Francisco. I’m also involved with Delete Blood Cancer DKMS and Up on Top, a non-profit, tuition-free after-school program based in San Francisco.

Most people don’t know I …Climbed Mt. Kilimanjaro in 2012 with my wife. We are expecting our first child in April.

New alumni

snapshotLittle is specialty chocolatierDavid Little has formed NouveautesUSA, Inc., a specialty chocolate company that creates individual chocolates in shapes and letters, allowing customers to create highly personalized messages and presentations. You can learn more about the company by visiting the company’s website at chocolatetext.com.

Loretta Doon has been named to Accounting Today’s list of “Top 100 Most Influential People.” She serves as CEO of the California Society of CPAs and California

CPA Education Foundation.

Terry Eleftheriou has been named EVO and CFO of Employers Holdings, Inc., a small business insurance specialist.

Ann Fong has been awarded the 2014 CFO of the Year Rising Star Award by the Orange County Business Journal. Fong serves as CFO of Incipio Technologies.

Franklin Hall has been appointed EVP and CFO of Radian Group Inc., a credit enhancement company. He previously served as CFO of First Financial Bancorp.

Michael Hansen has been promoted to SVP of Finance and CFO of Cintas Corporation. He previously served as the company’s VP and Treasurer.

James M. Havel has been named Executive Vice President and Interim CFO of Express Scripts, a pharmacy benefit management organization. Havel previously served as CFO of Major Brands Holdings, a privately held beverage distribution company.


Alumni news

Doug Horne has been promoted to SVP and Controller of Time Warner Inc. He previously served as Deputy CFO, Controller and CAO at AOL Inc.

Willie Houston has been appointed CFO of Satori Capital, a Texas-based multi-strategy investment firm. He most recently served as Senior Director of Financial Operations at TPG Capital.

David G. Johnson has been appointed to the Executive Committee of the McDonald Hopkins law firm. Johnson will serve in an ex officio role and will remain as senior of counsel.

Brian Kelly has been appointed Chief Security Officer of Rackspace, a managed cloud computing company based in Texas.

Ron Konezny has been named President and CEO of Digi International Inc. He formerly served as VP, Global Transportation and Logistics division of Trimble Navigation Limited.

Allan Landon has been nominated by President Barack Obama to fill an opening on the Federal Reserve Board of Governors. Landon is the retired Chairman and CEO of the Bank of Hawaii Corporation.

David Largen has been named VP of Finance, Controller of Steelwedge, a cloud sales and operations planning and demand planning solutions company.

Sonia Luna has been appointed to the SEC’s Advisory Committee on Small and Emerging Companies. She is founder and CEO of Aviva Spectrum, a management

and compliance consulting firm, and a member of the Greater Los Angeles EY Alumni Council.

Bruce McDonald was promoted to EVP and Vice Chairman of Johnson Controls. He most recently served as the company’s EVP and CFO.

Richard O’Leary has been named Interim CFO of International Flavors & Fragrances Inc., a global creator of flavors and fragrances for consumer products.

Jeffery Ostapeic has been appointed CFO of Appliance Recycling Centers of America, Inc., a provider of appliance recycling and retailing services.

Kathleen Pawlus has been appointed to the board of directors of AMC Entertainment Inc.

Scott A. Roe has been named CFO of VF Corporation, a global leader in branded lifestyle apparel and footwear with more than 30 brands, including The North Face,

Vans, Timberland, Wrangler and Lee.

Paul D. Rouse has been appointed EVP, CFO and Treasurer of Dex Media Inc., a print and digital marketing company. Rouse previously served as Chief Financial Officer of Apple and Eve LLC, a privately held juice company.

Glenn succeeds Curt at Warburg PincusSteven Glenn has been named Managing Director and CFO of Warburg Pincus and will serve as a member of the firm’s Executive Management Group. Glenn succeeds fellow EY alum Tim Curt, who will remain a Partner and Managing Director at Warburg Pincus and will assist Glenn during his transition. Curt will continue to manage Warburg Pincus’s IT group, help to administer its offshore entities, and lead a number of key technology and information-sharing initiatives.

Steven Glenn

Tim Curt

56 alumni.ey.com

Scott Sachs was honored by C5LA — a Los Angeles-based organization committed to inspiring high-potential youth from risk-filled environments to pursue personal success —

at its recent Inspire the Dream Gala. Sachs is Managing Partner — Los Angeles for CohnReznick LLP, and a member of the Greater Los Angeles EY Alumni Council.

Matt LittleCorporate ControllerKBR, Inc.

Level at departure: Senior Manager

Last EY office: Houston, Texas

Current residence:The Woodlands, Texas

Most valuable lesson I learned at EYEY molded me into an accountant who can think critically and solve complex issues. More importantly, EY trained me how to manage and lead people and how to be a professional.

EY’s impact on my careerThe EY brand, combined with the brands of the clients I served while at EY, positioned me, at an early stage of my career, to achieve my current role at KBR.

Being an EY alum meansYou will forever have a world-class firm supporting you that truly cares about you.

How I’m helping build a better working worldI have the opportunity to provide leadership and direction for a great, historic company, KBR, while helping others develop their skills to lead and do great things.

Most people don’t know I … Traversed the globe with EY to some of the world’s largest energy infrastructure projects, staying at self-contained camps that housed thousands of workers, and climbing to the top of some of the largest liquefied natural gas tanks in North and South America and Australia.

New alumni

snapshotVincent Sadusky has been appointed President and CEO of Media General Inc., one of the nation’s largest multimedia companies. He

previously served as President and CEO of LIN Media LLC and CFO and Treasurer of Telemundo Communications Inc.

Susan Skerritt has been named to American Banker’s “25 Women to Watch” list. She currently serves as Managing Director and Head of

Global Transaction Banking Americas at Deutsche Bank.

Kevin Smith has retired as President and CEO of the Colorado Institute for Drug, Device and Diagnostic Development (CID4).

Kimsey uncorks new wineryIn our May 2010 issue, we reported that retired EY Global CEO Bill Kimsey was in the early stages of growing and bottling his own “luxury” wine. We’re pleased to report that Kimsey Vineyards located in Ballard Canyon, California, is now producing syrah, grenache and white blend vintages to rave reviews. Attendees at our most recent Orange County Alumni Council meeting were treated to a Kimsey wine sampling, and several lucky members won a guided tour of the winery, led by Bill himself. You can sign up for notices about releases and other information at kimseyvineyard.com.


Alumni news

Gale Sommers has been promoted to CEO of Professional Warranty Service Corp, a warranty protection and builder warranty solutions company. He formerly

served as the company’s SVP and CFO.

Michael Stoltz has been named to the board of directors and audit committee of Windstream Holdings, Inc., an Arkansas-based communications and technology solutions company.

Mark Szynkowski has been selected as CFO for 6D Global Technologies, Inc., a holding company that manages a portfolio of digital business solutions companies.

Jim Turley, former EY Global Chairman and CEO, has been named to the board of Northrop Grumman. He currently serves on the corporate boards of

Citigroup, Emerson Electric Company and Intrexon Corporation.

Leila Vaughan has joined the law firm of Chamberlain, Hrdlicka, White, Williams & Aughtry in Philadelphia.

Mark Vise was featured in the January 2015 edition of Profile magazine in an article on implementing a successful change program and shared

services model. He serves as VP and CFO Americas for Intertek plc, a multinational inspection, product testing and certification company.

Billie Williamson has joined the board of directors of Janus Capital. She also serves on the boards of Exelis Inc., Energy Future Holdings Corporation

and Pentair plc. Before retiring from Ernst & Young LLP, Williamson was a member of both the Americas Executive Board and US Executive Board. She also served as Americas Inclusiveness Officer.

Suzanne Yoon has been named to the board of trustees of National Philanthropic Trust. She serves as a managing director for Versa Capital and is

also a steering committee member of the Private Equity Women Investor Network and of the Women’s Association of Venture & Equity.

Dorothy Puhy

Stebe and Tange launch appDr. Peter Stebe and Alexander Tange have founded nextSociety, a company that “helps professionals to surface the right relationships at the right time.” According to Stebe and Tange, nextSociety offers an effective way to identify the most relevant contacts in your network and makes it easy to reach out. Their app is available on iOS. An enterprise version will launch soon. Learn more at nextsociety.com.

Mahan and Puhy are health system leaders “to know”Michelle Mahan and Dorothy Puhy (pictured above) have been named to Becker’s Hospital Review’s “130 women hospital and health system leaders to know” list for 2014.

Mahan currently serves as SVP of Finance and CFO of Frederick (Md.) Memorial Healthcare. Puhy is EVP and COO of Dana-Farber Cancer Institute in Boston.

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EY alumni take great delight in reuniting

with their fellow alumni and former colleagues, whether at a start-class

reunion, an industry-specific forum or a

former-partner outing. In the past six months,

we’ve hosted over 50 events coast to coast. To learn about alumni

events in your area, go to the EY alumni

website (www.alumni.ey.com). While there,

please make sure your contact information

is accurate to ensure that you receive

announcements, invitations and updates.

EventsGALLERY

Pittsburgh01 L–R: Chris Pascuzzi (Senior

Director, Financial Shared Services, GNC), Kevin Pickels (Partner, Ernst & Young LLP), Lynette Horrell (Pittsburgh Managing Partner, Ernst & Young LLP) and Doug Kovach (Controller, NEP Broadcasting LLC)

02 L–R: John Engel (Controller, Assistant Treasurer, Gateway Health Plan) and Nicky Engel (Corporate Tax, FNB Corp.)

Minneapolis03 L–R: Dean Truitt (Managing

Director, Blue Horizon Management), Kim Ries (Partner, Ernst & Young LLP), Mark Hornung (Partner, FourPoint Partners LLC)

04 L–R: Heather Schnell (Senior Associate, Product Development, CarVal Investors), Rochelle Anderson (Finance, Duininck Inc.), Stephanie Gale (Senior Manager, Ernst & Young LLP), Ben Winter (Investment Banking Associate, Quetico Partners) and Laura Degen (Director of Accounting Policy, Ameriprise Financial)

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Canada celebrates 150 years in style

EY Canada celebrated its 150th anniversary with events focused on EY alumni, clients and communities across the country throughout 2014.

“It was a fantastic year, and we made the most of the opportunity to strengthen relationships and build new ones,” says Trent Henry, EY Canada Chairman and CEO. “We’re proud of our history, but this was all about who we are today and the bright future that lies ahead.”

• Fourteen events in 12 cities attracted over 5,000 attendees — an unprecedented level of participation for EY Canada.

• A special edition of Canada’s Connect magazine featured the voices of 80 Canadian alumni sharing their vision of the future of business.

• Four nationwide contests involved EY people in every office — more than 1,100 entries were submitted for one contest alone.

• The Canadian Partner Conference held in May in Banff, Alberta, convened 85% of EY Canada’s partnership for anniversary celebrations and robust discussions.

As part of EY Canada’s 150th anniversary celebration, several original artworks by Canadian artists were commissioned, depicting their vision of building a better working world. The images were printed on mobile device covers and given as gifts to employees who proudly display them in the photo below.

Edmonton

Calgary

Toronto

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Events gallery

Baltimore Alumni Council meeting at Under Armour

01 L–R: Tim Shepard (Manager, Ernst & Young LLP), Kyle Miller (Partner, Ernst & Young LLP and Baltimore Alumni Executive Sponsor), Mike Herrinton (Partner, Ernst & Young LLP), Jay Ridder (Baltimore Managing Partner, Ernst & Young LLP), Lynn Touzzo (VP, Tax, GP Strategies Corporation), Steve Canaras (Partner, Ernst & Young LLP), Cecil Flamer (Managing Director and CAO, Brown Capital Management, Inc.), Ron Diegleman (Cofounder and CFO, SameGrain, Inc.), Robert Schmollinger II (VP, Internal Audit, Algeco Scotsman), Steve Johnson (Worldwide Controller, IDSS Gemalto), Dave Bergman (VP, Corporate Controller, Under Armour, Inc.), Joe Wagner (CFO, Evergreen Health), Jen Bray (Corporate Controller, Dunbar Armored), Scott Becker (CFO, Associated Catholic Charities), Matt Yancisan (CFO, Riverside Health), Gerohn Lanns (Senior Manager, Ernst & Young LLP) and Andrew Fabula (Controller, UnitedHealthcare Specialty Benefits)

Kansas City02 L–R: Kurt Mueller (Chairman, Balance Innovations

LLC), Steve Clifford (Kansas City Managing Partner, Ernst & Young LLP), Marshall Parker (President & CEO, Kansas Venture Capital, Inc.) and John Faucett (Assistant Treasurer, DST Systems, Inc.)

03 L–R: Madeline Schneider (Director, Federal Tax Audits and Planning, Brunswick Corporation), Rhonda Bromley (Director of Training and Employee Development, Ash Grove Cement Company), Denise Fast (self-employed tax accountant), Michelle Growcock (Brand CFO, VF Jeanswear) and Timothy Dolan (CFO, Elyria Foundry)

Indianapolis CPE event04 L–R: Gil Viets (former Chief of Staff, Indiana

Department of Transportation) and Robyn Werner (Partner, Ernst & Young LLP and Indianapolis Alumni Executive Sponsor)

05 L–R: Hong Yang (Manager, Ernst & Young LLP) and Yan Ma (Financial Accountant, Aqua Indiana)

Des Moines06 L–R: Kevin Krause (Partner/CFO, BP Real Estate

Group) and Sue Tingleff (Controller, American Feed Industry Insurance)

07 L–R: Anita Halterman (spouse of Chris Halterman), Chris Halterman (Executive Director, Ernst & Young LLP), Charles Rayburn (retired Partner, Ernst & Young LLP) and Sharon Sorensen (retired Executive Director, Ernst & Young LLP)

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Richmond01 L–R: Richmond Alumni Council members

Carolyn Jones (SVP, Treasurer and Investor Relations, Hilb Rogal & Hobbs) and Steve Dickinson (CFO and Owner, Velocity Health & Fitness, LLC)

02 L–R: Roy Peters (former CFO, Feed More, Inc.), John Bartholomew (Lease Analyst, AECOM), Carolyn Jones (SVP, Treasurer and Investor Relations, Hilb Rogal & Hobbs), Paige Bartholomew (Vice President — Controller, The Trust Company of Virginia), Archie Glaspy (Executive Director of Internal Audit, Covance), Chuck Bartlett (Consultant) and Charlie Beck (executive search and staffing consultant)

Philadelphia03 L–R: Liz Ly (Internal Audit Analyst, Vanguard)

and Shawn Manderson (Senior IT Auditor, FMC Corporation)

Connecticut class of 2000 reunion04 L–R: Julie Moran (Senior Accountant, Terex) and

Shane McCarren (Senior, Ernst & Young LLP)

05 L–R: Michelle Velez (Director, ITT), Ehsan Ulhaq (Director of Tax Reporting, ITT), Mark Magnusen (Financial Advisory, Merrill Lynch) and Albano Costa (Tax Process Manager, Terex)

Long Island06 L–R: Tiziana Viti (Senior Manager,

Ernst & Young LLP), Bridgett Elliott, (Project Manager, Garden City Group), Ray Lombardi (CFO, Teledata Communications, Inc.) and Mary Lombardi (Senior Manager, Ernst & Young LLP)

07 L–R: Leslie Nieskens (Owner, Leslie Nieskens CPA LLC), Ameet Kumar (Manager, Ernst & Young LLP) and Dan Griesmeyer (Financial Advisory, Morgan Stanley)

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Learning and networking in Houston

More than 200 EY alumni and others gathered in Houston last December for the alumni learning and CPE event held there each year. The learning portion offered eight hours of CPE, including a panel of EY leaders discussing hot business topics in the Houston market, a legislative update from EY Washington Council member Gary Gasper, and a presentation on authentic leadership from Dr. Todd Dewett, EY alumus and author of Show Your Ink: Stories About Leadership and Life. The event concluded with a cocktail reception.

01 L–R: Mike Gregorcyck (Partner, Ernst & Young LLP), Valerie Williams (Southwest Assurance Managing Partner, Ernst & Young LLP), Rodney Reed (Houston Training Manager, National Oilwell Varco and Houston Alumni Council chair) and Marcela Donadio (Board of Directors, National Oilwell Varco and Marathon Oil).

02 L–R: Joanna Vargas (Income Tax Manager, Technip), Binhui Liu (Manager, Ernst & Young LLP) and Dan Cheng (Senior Manager, Ernst & Young LLP)

03 L–R: EY alum and author Todd Dewett and Steve Brown (Partner, Ernst & Young LLP and Houston Alumni Executive Sponsor)

04 L–R: Cody McLaughlin (Lead SEC Reporting Analyst, Cheniere Energy, Inc.), Sandra Oliver (Partner, Ernst & Young LLP) and Heather Sturlese (Sr. VP of Accounting and Finance, WEDGE Group Incorporated)

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Tampa new office open house01 L–R: Peter Stravino, (Manager — Finance, Bloomin

Brands, Inc.) and Thais Rodriguez (Senior Manager, Ernst & Young LLP)

02 L–R: Karole Lloyd (Southeast Region Managing Partner, Ernst & Young LLP), Steph McGinnis (Senior Manager, Sunera Financial Advisory Services) and Jason Gryglewicz, (Partner, Ernst & Young LLP)

Atlanta Alumni Council dinner03 L–R: Jan Eldridge (spouse of Charles Eldridge),

Charles Eldridge (Senior Partner, Korn-Ferry International), Katherine Fritts (Southeast Tax Managing Partner, Ernst & Young LLP) and Steve Cappel (spouse of Katherine Fritts and former Partner, Ernst & Young LLP)

04 L–R: Susan Bell (Atlanta Managing Partner, Ernst & Young LLP), Betsy Hare (Revenue Accounting Manager, Airwatch) and Lanier Marshall (VP of Business Development, Cooleaf)

Phoenix CPE event05 L–R: Rebecca Roder (HR Manager — Audit & Analysis,

US Airways) and Dan Roder (Senior Manager, Ernst & Young LLP)

Denver06 L–R: Chele Zavik Cary (Controller, Immuno Properties),

Matthew Gibson (E&P Controller, Antero Resources) and Jim Price (Partner, Ernst & Young LLP)

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Seattle01 L–R: Shawn Ottenbreit (CFO HP Marketing, Hewlett-Packard),

John Prescott (Business Development Executive, Ernst & Young LLP), Carl Mackleit (Partner, Ernst & Young LLP), Marietta Tower (Bookkeeper, Professional Bookkeeping & Accounting LLC), Steve Bailey (CFO and Partner, Frazier Healthcare Ventures) and Steve Day (Shareholder, Clark Nuber)

02 L–R: Dan Smith (Seattle Managing Partner, Ernst & Young LLP), Katie McKereghan (Accounting Manager, Zulily, Inc.), Paul Rickey (VP, Finance and Administration, Immune Design) and Tim Tasker (Partner, Ernst & Young LLP)

Los Angeles real estate event 03 L–R: Mike Straneva (Partner, Ernst & Young LLP and Americas Real Estate

Sector Leader), Stan Ross (Chairman of the Board, USC Lusk Institute of Real Estate and retired KL and EYKL Managing Partner) and John French (Partner, Ernst & Young LLP)

04 L–R: Brad Hall (Managing Partner, Capital Hall Partners), Mike Gillmore (Partner, Ernst & Young LLP and West Region Real Estate Leader) and Michael Meyer (Managing Principal, Twin Rock Partners and retired EYKL Newport Beach Managing Partner)

San Francisco Alumni Partner dinner05 L–R: Bill LeRoy (retired Partner, Ernst & Young LLP), Bob Elya (retired

Partner, Ernst & Young LLP and North Bay Alumni Council chair) and Jack Fitzpatrick (retired Partner, Ernst & Young LLP)

06 L–R: Todd Silva (Partner, Ernst & Young LLP) and Mark Gaumond (former EY Senior Vice Chair — Americas; Director at Rayonier Advanced Materials, Inc., the Fishers Island Development Corporation and the Walsh Park Benevolent Corporation; Advisory Board member at BPV Capital Management LLC; and North Bay Alumni Council member)


Financial services alums reconnect in NYC

Nearly 400 alumni representing EY’s Financial Services Organization gathered in November in New York City. Michael Inserra, Vice Chair and Regional Managing Partner, Financial Services Organization (FSO), thanked the alumni in attendance, saying, “I hope you take great pride in the unique, industry-leading organization that you helped to create.” EY remains the only public accounting organization with a distinct business unit dedicated to the financial services marketplace.

01 L–R: John Arvonio (CFO and CAO, Intervest National Bank), Jeff Anderson (EY Director, Alumni Relations — Americas and US), Michael Inserra (EY Americas Vice Chair and Regional Managing Partner, FSO) and Mike Goldstein (Board Member, IDB Bank)

02 L–R: Margaret Morrison (Partner, Ernst & Young LLP) and Nestor Amaya (Branch Manager, Capital One)

03 L–R: Michael Rochon (Program Manager, TIAA-CREF), Michael Dilecce (Partner, Ernst & Young LLP), and Samantha Viglienghi (Deputy Head of Finance, BlueMountain Capital Management)

04 L–R: Sherry Ann Mohan (VP, Goldman Sachs), Dan Black (EY Americas Director, Recruiting), Miguel Marcelle (Senior Auditor/AVP, Alliance Bernstein) and Juneisha Burrows (Assistant VP, AllianceBernstein)

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South Bay alumni partner luncheon01 L–R: Diane Glynn (Redwood Shores Managing

Partner, Ernst & Young LLP) with retired Partners Don Sugarman, Bob Donzelli and Dave Ward

02 L–R: Dan Pereira (Partner, Ernst & Young LLP), David Jolley (West Accounts Managing Partner, Ernst & Young LLP) and Mike Strachan (retired Partner, Ernst & Young LLP and North Bay Alumni Council member)

03 L–R: Steve Schechter (Tax Partner, Moss Adams LLP) and John Buckley (CFO, AccessClosure, Inc.)

Los Angeles retired partner holiday luncheon

04 L–R: Pat Niemann (Greater Los Angeles Managing Partner, Ernst & Young LLP and West Alumni Executive Sponsor), Mike Lucki (Strategy Consultant and Board Member, Lucki Advisors LLP), and retired Partners Rick Webb and Tom Ryan

05 L–R: Bill Kimsey (former EY Global CEO and Owner, Kimsey Vineyard) and Sam Bell, Jr. (former Greater Los Angeles Managing Partner, Ernst & Young LLP)

Orange County06 L–R: Bruce Larsen (Partner, Ernst & Young LLP),

Julia Cox (Partner, Soren McAdam Christenson LLP and Orange County Alumni Council member) and Dave Harris (EVP — Finance and CFO, Stater Bros. Markets)

07 L–R: Mike Kelly (CEO, Beacon Resources) and Jason Gardner (President, JB Gardner & Company and Orange County Alumni Council member)

Greater Washington, D.C. class of 2000 reunion

08 L–R: Rena Wamsley (Compliance and Ethics, Senior Privacy Compliance Specialist, Fannie Mae) and Meredith Lloyd (Executive Director, Ernst & Young LLP)

09 L–R: Jing Yu (Senior Manager, Ernst & Young LLP), Mark Stalcup (External Financial Reporting Senior Accountant, NII Holdings, Inc.), Sergey Kvasnyuk (Manager, Morgan Franklin Consulting) and Mary Ajetunmobi (Senior Manager, Ernst & Young LLP)


Chicago alumsmake it a Carnivale

More than 400 alumni attended the annual Chicago alumni reunion this past November at the festive Carnivale Restaurant (complete with trapeze artist). Representing start-year classes from 1958 to 2012, our alumni were welcomed by Kim Simios, who in July was named Chicago Managing Partner. Simios succeeded Kelly Grier, who is now EY’s Americas Vice Chair — Talent. Some 50 retired partners also attended a special gathering prior to the main reception.

01 L–R: Megan Lee (Business Development Director, Salo LLC) and Tirrell Paxton (Deputy Inspector General, Cook County Government)

02 L–R: John Kuyers (retired Partner, Ernst & Young LLP), Kim Simios (Chicago Managing Partner, Ernst & Young LLP) and Joyce Simon (Executive Vice President/CFO, John G. Shedd Aquarium)

03 L–R: Rick Fezell (Central Region Managing Partner, Ernst & Young LLP), Ginger Pillman (President, Virginia M Johnson & Associates), Phil Anderson (former Partner, Ernst & Young LLP) and Jim Nelson (Director, Ernst & Young LLP)

04 Front row, L–R: Laura Smith (Controller, Hodgkins River Road Partners LLC), Amy Callahan (Treasurer, North Shore Printers, Inc.), Diane Klein (Accountant, Mercy Home for Boys and Girls), Cheryl Murphy (CFO, Mercy Home for Boys and Girls) and Ron Wray (Attorney, Pritzker Family Office LLC)

Back row, L–R: Lora Kmieciak (Executive Director, Ernst & Young LLP), Miriam Clements (Executive Director, Ernst & Young LLP), Mark Sever (Partner, Ernst & Young LLP), Thomas Festle (CAO, E.ON Climate & Renewables North America), Mary VanKoevering (Business Director, Queen of Peace High School), Tim McGuire (President, National Merit Scholarship Corporation) and Trey Smith (Owner, Bridge Personnel Services Corp)

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Message from Jeff AndersonDirector, Alumni Relations — US and Americas

The value of being relevant

The EY Alumni NetworkAre you a member?Join the EY Alumni Network and enjoy these connection opportunities:

• Events and reunion announcements

• CPE and learning opportunities

• Job opportunities

• Quarterly newsletter

• Networking with nearly 70,000 of your former colleagues and current EY people

Join the network at alumni.ey.com

Get the Connect appYou can also read Connect on your tablet. And with a Wi-Fi connection, you can easily link to the many resources referenced throughout the publication. To download the Connect app, go to your preferred app store, search for “EY Connect” and click “download.”Every day I ask myself, “How can we make our alumni program

more relevant to you, our EY alumni?” Consider that EY alumni encompass a wide range of ages — some in their early 20s, others age 100 (yes, we do have at least one centenarian). Any one of our alum may have worked in any number of service lines or locations, or may have been with EY for six months or 40+ years. As you can see, there’s no “one-size-fits-all” answer.

To help ensure every alum has an opportunity to stay connected, we offer our newly refreshed Global Alumni Portal. Last December, we launched our official LinkedIn group. And, of course, we hold dozens of reunions and live learning events throughout the country. As our alumni efforts progress, it’s clear to me that to further engage, we must focus on the things most valuable to you. Based on your feedback, our Alumni Relations program is most relevant when we help alumni connect and convene according to the natural affiliations you share from your time at EY (the same industry, sector or current role, for example).

One initiative to engage alumni in a more meaningful way is our new Alumni Champion network. On our clients with large numbers of alumni — some accounts have more than 500 — we have appointed alumni liaisons, seasoned EY executives whose job is to champion the alumni on that account, keeping them informed of events and resources and keeping them connected with other alumni in their account and in the network. Based on positive feedback, we are now looking to expand the champion network to connect alumni in other areas of affinity, including young alumni, new alumni and alumni in similar roles, such as CFO or corporate board member. Becoming more relevant is just one way we hope to answer the question, “How do we better engage our alumni?”

EY US Alumni Relations teamKristen Bell (Northeast/FSO) [email protected]+1 212 773 4324Darby Frizzell (Southeast/Southwest) [email protected]+1 404 541 8315Adrienne Jaroch (Central) [email protected]+1 312 879 2337 Carey Smith-Marchi (West) [email protected]+1 404 817 4125

To view past issues of Connect, go to www.ey.com, select “About us” at the top of the screen and then “Our alumni.” From the website, you can access an online version of current and previous issues. You can also download and print a pdf file. A limited number of hard copies of past issues are available by contacting us at [email protected].

Download - The magazine for EY alumni Building better boards · The magazine for EY alumni Sarah Kauss building a better bottle and a greener world at S’well Rich Jones ... This program identifies

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