EY hires Treasury director to bolster financial services team
Big Four giant EY has recruited HM Treasury’s director of financial services to add to its financial services risk practice.
As exclusively shared with City PM, John Owen has joined EY as a UK consulting partner after over two decades in government.
Owen started off in the Ministry of Justice in 2005, before moving to the Cabinet Office, and most recently, HM Treasury.
A senior civil servant, he has extensive experience in Private Office, serving as a senior policy adviser to Deputy Prime Minister Nick Clegg between 2014 and 2015.
Most recently, he served as the director of financial services at the Treasury, a position that led the government’s efforts to promote stability, fairness, efficiency, and competitiveness in the financial markets.
EY boss: New hire has ‘extensive experience’
The firm states that Owen has “deep expertise” in managing complex risks, having advised officials, including successive Chancellors, through major events such as Brexit and the Covid-19 pandemic.
It was also noted that he is “highly skilled” in implementing strategic change, particularly within the financial regulatory sector.
Commenting on his new role, Owen said: “I am delighted to have joined EY to help financial services firms navigate new and emerging risk and plan for the future. As technology develops and geopolitical tensions heighten, so too does risk.”
“Regulation to protect and strengthen the financial system must evolve alongside that risk, and while short-term it can be disruptive, it is essential for the long-term stability and resilience of the UK market as it competes on the global stage.”
David Sellick, UK financial services consulting leader, added: “John brings extensive experience gained from years of public service.
“His knowledge of the UK regulatory landscape and how to manage change is impressive and will be highly valuable to our clients as they operate in a fast-moving, ever-evolving and often volatile marketplace.”