Deloitte Financial Advisory Services Elects New CEO and Chairman

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October 27, 2008, New York, USA - Deloitte Financial Advisory Services LLP (Deloitte FAS) announced that it has elected long-time executives David Williams as Chief Executive Officer and Kerry L. Francis as Chairman of the Board for the United States.

Mr. Williams will replace current CEO Frank Piantidosi who has held the position since 2003. Piantidosi will assume the role of Chief Executive of Deloitte North America Financial Advisory LLC. The leadership transition is part of a nomination and partnership ratification process that will be effective immediately.

For 26 years, Mr. Williams has provided advice and counsel to clients engaged in business transactions or facing critical business events. During his nearly seven years with Deloitte FAS, Mr. Williams served in various leadership roles spanning Deloitte FAS' two major business arms - Forensic & Dispute Services and Advisory Services. Most recently, Mr. Williams was national leader of Deloitte FAS' Advisory Services practice. Earlier, Mr. Williams was national leader of Deloitte FAS' Valuation Services practice and a principal in the organization's Forensic & Dispute Services practice. Since 2004, Mr. Williams has been a member of the executive committee of Deloitte FAS and the boards of both Deloitte FAS and Deloitte LLP.

Mr. Williams earned his undergraduate degree in Economics from the University of Pennsylvania and his M.B.A. in Finance from the Wharton School of the University of Pennsylvania.

Ms. Francis will hold a new position within Deloitte FAS as chairman of the board in addition to her standing title as leader of the organization's national Corporate Investigations practice. She previously served as regional managing partner for the Northern Pacific region of Deloitte FAS. Since 2005, Francis has been a member of the executive committee and board member for Deloitte FAS; and, she will maintain those leadership positions as chairman.

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