Deloitte names UK partner, Ellie Patsalos, as Global Head of Tax for financial services

Deloitte, the business advisory firm, has named Ellie Patsalos, a senior partner in its UK firm, as its global head of tax for the financial services industry.

Ellie, a tax partner in the firm’s Global Employer Solutions group, is the first woman to be appointed to Deloitte’s global tax executive and has also recently been named as a vice chairperson of the UK firm.

Ellie, who also heads up the UK financial services tax team, has over 25 years experience specialising in international compensation and tax consulting for senior executives at major financial services organisations. She has been tasked with making Deloitte the market leading firm for tax expertise in financial services matters.

Alberto Terol, global head of tax at Deloitte, commented: “We have a clear ambition to make Deloitte the number one tax adviser to financial institutions. Our global financial services tax practice is already a US$1 billion business, growing 30% year on year. Under Ellie’s leadership we are confident of further growth and success. We will hire experienced talent at all levels to ensure we offer our clients a tax service second to none.”

Deloitte has been growing its financial services tax expertise worldwide with a series of significant industry hires in key countries and markets, including:

China

Five tax partners hired from rival firm PwC. Chee Weng Lee, Becky Lai, Davy Lun, Eric Ho and Sarah McGrath, are well known in the Hong Kong business community and will help the firm grow its foothold in China;

UK

A number of high profile tax partner hires, including Andy Todd from Aviva plc, where he was director of tax for the group’s life business; David Clissitt from Lloyd’s of London, where he was head of tax and treasury; and Cathy Lynch from AXA UK plc, where she was director of group taxation;

Switzerland

Irene Salvi, joined Deloitte’s Zurich office on 1 November from her role as group head of tax at Swiss Re. Irene will lead Deloitte’s financial services tax initiative across Switzerland.

Ellie Patsalos commented: “We recognise the importance of financial services to the global economy, while also seeing what an integral part tax plays in many of the challenges, issues and opportunities facing the industry. By adding experienced industry specialists to our already considerable in-house expertise, Deloitte is well placed to help financial institutions navigate the many tax challenges and regulations.

“Issues such as compliance, off shoring, finance transformation and research and development (R&D), to name but a few, all have major tax implications for financial institutions. The organisations that manage tax most effectively stand to gain considerable competitive advantage and with our dedicated financial services practices in more than 40 countries we believe that we are the best placed firm to help them.”