Elizabeth Krentzman, former Investment Company Institute general counsel, has been appointed to lead Deloitte’s US mutual fund practice.
Based in Washington, DC, Krentzman, a principal with Deloitte Consulting LLP, will oversee the national development and delivery of mutual fund strategies across Deloitte’s audit, tax, financial advisory and consulting businesses to mutual fund complexes, boards of directors and service providers. This newly-created position is another strategic step in the three-year expansion of Deloitte’s asset management services practice led by asset management services leader Cary Stier.
“Mutual funds have always been a cornerstone of the industry for both institutional and retail investors,” says Stier, vice chairman, Deloitte LLP. “But the lessons learned since the economic shakeup in 2008 have taught us that even the stalwart must innovate. Elizabeth’s substantial – and exceptional – mutual fund experience enhances our ability to meet emerging marketplace demands and reinforces Deloitte’s leadership position in the industry. Her business insights will be invaluable to our clients and our team.”
Deloitte’s mutual fund practice serves as independent auditor to approximately 1,800 mutual funds, from innovative start-ups to major fund complexes, and represents in excess of USD2 trillion in assets under management. Deloitte is the corporate and/or mutual fund auditor to five of the top 20 U.S. mutual fund complexes and provides business advisory services to 15 of the top 20 mutual fund complexes.
“Mutual funds and ETFs help people achieve their life goals, whether they are saving for a house, college or retirement,” says Krentzman. “In the current environment, the mutual fund industry has remained stable despite the turbulence in the financial markets. As a result, mutual fund managers can focus on fine tuning their businesses through increased efficiencies, expanded risk management, streamlined operations and advanced technologies. Deloitte is committed to continuing to help the industry flourish, which sits at the heart of all our futures.”
Krentzman re-joined Deloitte’s asset management services regulatory, governance and compliance group as a principal in 2007 after serving three years as the Investment Company Institute’s general counsel. From 1997 to 2004, she was a principal and national director for Deloitte asset management services regulatory consulting practice. From 1991 to 1997, Krentzman was with the Securities and Exchange Commission – Division of Investment Management, leading its Office of Disclosure and Investment Adviser Regulation. From 1987 to 1991, she was an associate with Ropes & Gray. From 1986 to 1987, she was an associate with Drinker, Biddle & Reath. Krentzman began her career as an associate with Elias, Matz, Tiernan & Herrick.
Krentzman holds a JD with honours from the University of Florida College of Law where she was a member of the Florida Law Review. She also earned a bachelor’s degree from the Gainesville-based school, graduating magna cum laude.
She is an editorial board member of The Investment Lawyer and serves on the advisory board of the SEC Historical Society. Krentzman is admitted to practice law in Washington, DC and Florida.
