The appointee has ‘deep sector knowledge and clear leadership qualities,’ says financial services leader
Ernst and Young (EY) has promoted Phil Vermeulen to insurance leader of Europe, the Middle East, India and Africa (EMEIA), a statement released today (4 July 2023) has revealed.
Vermeulen joined EY in 2004 as manager of its actuarial practice and made partner in 2011.
He most recently served as the firm’s global client service partner and global IFRS 17 leader.
In his new role, Vermeulen will be responsible for driving a quarter of EY EMEIA financial service revenues across 18 markets, 700 partners and 17,500 staff.
He will also play a key role in the EY EMEIA financial services leadership team, EY said.
Omar Ali, EY EMEIA financial services leader, highlighted that “the European insurance market is transforming” and that its European financial services business was “focused on supporting our insurance clients on this journey”.
“[Vermeulen] has deep sector knowledge and clear leadership qualities which give me confidence he will seamlessly continue to deliver for our insurance clients,” he said.
“[He is also] a proven leader and brings expertise in advising some of the world’s largest insurance groups on highly complex and strategic matters.”
Vermeulen added that “now is a pivotal moment for Europe’s insurers”.
”My focus will be on ensuring we meet the needs of the industry and its stakeholders, while providing exceptional opportunities for our teams to develop their skills and have impact,” he said.
Succession
Vermeulen has succeeded Peter Manchester, who led the European insurance business since 2017.
Manchester will retire later this year.
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Ali paid tribute to [Manchester] for his “leadership and dedication to helping our clients and our people”, adding that he looked forward to “working closely together” with his replacement.
Vermeulen said: “I am thrilled to be leading the team I joined as a junior actuary almost two decades ago.
“Whilst the core of EY’s talented and dedicated insurance business rightly remains unchanged, so much of what we do to support our clients innovate and achieve sustainable growth of course has.”
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