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T Arthur Blank Field of dreams Aaron Regent The Midas touch Kimberly Aiken Cockerham Taking the plunge Bill Kimsey Making a world of difference Carol Lowe Off the beaten path Connect The magazine for Ernst & Young alumni May 2010

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Page 1: Connect - EY · 18he makings of a great alumni relations program: Steve Howe T Americas Managing Partner Steve Howe reflects on our alumni’s contribution to . ... Connect, go to

Ernst & Young

Assurance | Tax | Transactions | Advisory

About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com

Ernst & Young LLP, a Delaware limited liability partnership, is a client-serving member firm of Ernst & Young Global Limited located in the US.

Ernst & Young LLP, an Ontario limited liability partnership, is a client-serving member firm of Ernst & Young Global Limited located in Canada.

© 2010 EYGM Limited. All Rights Reserved.

EYG No. KK0751

In line with Ernst & Young’s commitment to minimize its impact on the environment, this document has been printed on paper with a high recycled content.

This publication contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgment. Neither EYGM Limited nor any other member of the global Ernst & Young organization can accept any responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication. On any specific matter, reference should be made to the appropriate advisor.

www.ey.com

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Arthur BlankField of dreamsAaron RegentThe Midas touch

Kimberly Aiken CockerhamTaking the plunge

Bill KimseyMaking a world of difference

Carol LoweOff the beaten path

Connect The magazine for Ernst & Young alumni May 2010

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May 2010

ConnectThe magazine for Ernst & Young alumni

2 Field of dreams: Arthur BlankFrom his early days at Ernst & Young to cofounder of The Home Depot to owner of the Atlanta Falcons, Arthur Blank continues to be a giver — in a very big way.

6 The Midas touch: Aaron RegentThe head of the world’s largest gold mining company, Aaron Regent sees an opportunity — and an obligation — to help others at home, and around the globe.

10 Taking the plunge: Kimberly Aiken CockerhamThis former Miss America says her title as Ernst & Young alum means as much to her as her crown.

14 Making a world of difference: Bill KimseyHe’s credited with helping make Ernst & Young into a truly global organization. Now former Global CEO Bill Kimsey is using his talents to help other global companies, as well as hometown charities.

18 The makings of a great alumni relations program: Steve Howe Americas Managing Partner Steve Howe reflects on our alumni’s contribution to making Ernst & Young a Fortune “100 Best Companies to Work For” 12 years in a row.

20 Making connections on the alumni trail: Fanny Chu-FongAs University of Pennsylvania’s Global Alumni Director, Fanny Chu-Fong is helping maximize community engagement efforts from Philadelphia to London to Mumbai.

22 Going for the gold: Mary and David BetsillHe’s a retired partner; she’s Assurance Managing Partner for the firm’s East Central region. Together, David and Mary Betsill talk about how Ernst & Young brought them together — and their special reason for wanting to give back.

24 Off the beaten path: Carol LoweA passion for manufacturing has made Carol Lowe one of the very few female executives in her field – and she just loves it.

26 Leadership, an unequivocal CFO requirement: Charles B. EldridgeFormer partner and current executive recruiter Chuck Eldridge gives his point of view on what CEOs are currently looking for in their CFOs.

29 Visions on giving back: Donald YeeThe president and CEO of OptumHealth Vision has a unique perspective on “paying it forward.”

31 Round trip to success: Boomerangs tell their storiesFour recent Boomerangs talk about what they learned as a result of leaving and then coming back to Ernst & Young.

34 In the newsWe highlight some of the recent achievements of your friends and colleagues.

The Ernst & Young Alumni Network: are you a member?Along with experience, our alumni say that relationships are one of the most valuable things they take with them when they leave the firm. The Ernst & Young Alumni Network can help you keep those relationships alive. By joining the network, you will enjoy numerous “connection” opportunities, including:

• Quarterly electronic alumni newsletter

• Invitations to learning and professional development opportunities, including Ernst & Young’s Thought Center webcasts

• Invitations to alumni events and reunions

• Access to the alumni website (www.alumni.ey.com) where you will find:

— An online member directory with nearly 70,000 registered former colleagues and current Ernst & Young people

— Post-Ernst & Young benefits information

— My Network, an online networking tool that lets you meet and interact with other members

How to join the Ernst & Young Alumni NetworkRegister in three easy steps:

1. Go to www.alumni.ey.com.

2. Click “First time to Network.”

3. Complete the verification information (you will receive an email confirming your registration).

Already registered?Make sure you update your profile with your new contact information so we can remain in touch.

For any questions or comments you may have about Americas Alumni Relations, please email [email protected].

Beyond networking: alumni seek to serveThroughout this issue of Connect, you’ve read about some of the many ways that individual alumni are giving back to their communities. But it is interesting to watch what happens when you get a group of Ernst & Young alumni together: they just naturally tend to want to help others. For example, the Los Angeles and Orange County Alumni Councils are rolling up their sleeves and adopting at-risk schools, taking on inner-city beautification projects, sponsoring bone marrow registry and blood drives, and, well, the list goes on.

Why are they doing this? Pat Niemann, Alumni Relations Partner for the Western US, thinks it’s because so many alumni hold the firm’s values as their own. And he should know: his father, Jack, and wife, Rebecca are both alums. “For them, giving back is a high priority,” he says. Alumnus Jerry Thode, president of the nearby Orange County Council, agrees. He sees the Councils as providing the ideal platform for community engagement. “It’s still about networking,” he says, “but when you rally together around a cause, it goes beyond just building business networks — it builds a deep sense of camaraderie and friendship that brings you even closer together.”

A sincere thank you to all of our alumni — not just for helping to make Ernst & Young a great place, but for helping to make our world a better place as well.

Let’s connect again soon.

Jeff AndersonAmericas Director, Alumni Relations [email protected] +1 404 817 4875

On the cover:The Home Depot cofounder, Atlanta Falcons owner, philanthropist and Ernst & Young alum Arthur Blank talks about the importance of giving back.

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To view past issues of Connect, go to www.ey.com then select “About us” at the top of the screen and then “Our alumni.” From the website you can access an on-line version of current and previous issues. You can also download and print a PDF file. Limited hard-copies of past issues are available by contacting Jennifer Yim at [email protected].

For more information on the Ernst & Young alumni website, please contact Lori Grim at [email protected] or +1 216 583 2503.

Editor-in-Chief: Jeff AndersonManaging Editor: Jay SeitherContributing editors: Rama Ramaswami, James GaynorProject Coordinator: Rebecca O’Neal

Contributing writer: Anne LampertCreative Director: Donald BattingPhotographer: Jonathan GaymanContributing photographers: Ricky Agostin, Robert Thomas, Tim Canfield

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Welcome

3Es of corporate responsibilityAt Ernst & Young, we think one of the best ways to build a better business is by building a better world. That’s why we are globally focused on education, entrepreneurship and environmental sustainability — the “3Es” we see as fundamental to strong communities and thriving economies. To learn more about our “3E” efforts, see page 38.

The value of giving backErnst & Young alumni are truly giving people. Over the course of your careers the vast majority of you have dedicated your lives to serving the public interest. After all, accounting work, by definition, is about bringing transparency, reliability and independence to the marketplace. At the end of the day, that serves the greater good of our communities.

But Ernst & Young alumni give so much more. The charitable foundations you have helped to establish or guide raise literally millions of dollars to educate the underprivileged, house the homeless and protect the environment. The hundreds of organizations you advise or to which you generously contribute treat untold numbers of sick children, seek out new cures and bring hope and opportunity to the less fortunate. And the hundreds of thousands of hours you collectively volunteer — everything from taking meals to shut-ins to counseling and encouraging young entrepreneurs — have impact beyond measure.

In this issue of Connect, we celebrate the spirit of giving back that seems to pervade Ernst & Young alumni. Through organizations as diverse as the Arthur M. Blank Family Foundation, the Sick Kids Foundation, the Autism Family Foundation and organizations devoted to helping developmentally disabled individuals or people with brain injuries,

you will see how some of your fellow alumni are making a difference — and what drives them to do it.

Corporate and social responsibility is very highly valued at Ernst & Young. And it’s a value we hope to instill in our people. But it’s one thing to say that you support community engagement — and another thing to actually live it. As we talk to our alumni around the world, we are constantly struck by how many of you, even in these difficult and uncertain times, roll up your sleeves and give so much of yourselves.

Thank you, alumni, for your caring, your concern and your generosity. Thank you for giving back.

Sincerely,

Jim Turley Chairman and CEO

Steve Howe Americas Area Managing Partner

Nancy Altobello Americas Vice Chair, People

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Field of dreamsArthur Blank

When it comes to giving back, few people have the unique combination of heart and resources as Ernst & Young alum Arthur Blank. Atlanta Office Managing Partner Susan Bell recently had an opportunity to sit down with Blank at his Atlanta Falcons training facility in Flowery Branch, Georgia, and talk with him about his passion for winning and contributing — whether in business, on the gridiron or in the community.

A lesson in family valuesWhen Arthur Blank was a young boy growing up in Queens, one day his family was robbed — at gunpoint. As one of the two thieves searched the Blanks’s one-bedroom apartment, the other sat with the anxious family in the living room, nervously gripping a gun in his lap. And, remembering it “like it was yesterday,” Blank recalls watching in horror as his mother berated the gunman about how what he was doing was wrong, and suggested that he should really “think about doing something better with the rest of his life.” While he can smile about it now, Blank says the incident reflects the deep set of values instilled in him by his family — the notion of trying to make a difference, of being “his brother’s keeper” — that have stuck with him and have guided his tremendously successful and illustrious career.

Before cofounding The Home Depot or becoming owner of the Atlanta Falcons or establishing the multi-million dollar Arthur M. Blank Family Foundation, Arthur Blank joined Ernst & Young in 1963 as a staff accountant. He has fond memories of his time in the New York office, even though he admits the work could be tedious. “Back in those days we had to physically verify each and every securities receipt,” he says. Blank tells the story of sitting for days in a small room (with a chain-smoking coworker) doing nothing but counting security records. Still, says Blank, he considers the training and exposure to industry he received during his nearly five years at Ernst & Young as “tremendously helpful” in launching his career.

Atlanta Office Managing Partner Susan Bell meets with Ernst & Young alum Arthur Blank in his office overlooking the Atlanta Falcons training camp.

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“Behavior drives results.” Blank notes that giving back has been an integral part of his personal and business philosophy.

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Winning on and off the fieldIt seems like whatever Blank has set out to do, he’s been, to put it mildly, remarkably successful. (He’s on the Forbes 2010 World’s Richest People list). But whether it’s revolutionizing the home improvement business, or leading the Falcons to their first back-to-back winning seasons in the franchise’s 44-year history, Blank says it all boils down to one thing: values. “Our family of businesses has changed dramatically over the years,

but our core values have not,” affirms Blank. Clearly stated among those values is this: “Give back to others.”

Believing that “behavior drives results,” Blank notes that giving back has been an integral part of his personal and business philosophy from the outset, and not simply the result of success. And he hopes to instill that value in the people with whom he works. “At Home Depot, we wanted our associates to see that they

were in a position to truly serve others: maybe they were making a headache go away for the guy with the leaky faucet, or helping a young couple on a budget create their dream home.” That notion of setting the bar high in terms of giving back continues with the Falcons; for the past several years the team’s players have lead the NFL in the number of personal, charitable appearances. “The environment we’re trying to foster,” says Blank, “is that we want to be winners not just on the field, but off the field as well.”

Leveling the playing fieldAs one of the world’s leading philanthropists, Blank feels especially passionate about helping disadvantaged children. Sitting in his office overlooking the Falcon’s practice fields, Blank talks about the need to “level the playing field” for low-income youth and their families. Taking the football analogy

“ Our family of businesses has changed dramatically over the years, but our core values have not,” affirms Blank. Clearly stated among those six values is this: “Give back to others.”

Giving

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New alum snapshot

Level at departure: Technology and Security Risk Services Audit ManagerCurrent position/company: IS Audit Section Manager, Internal Audit department, Cellcom Israel, Ltd. Current residence: Beit Yizhak-Sha’ar Hefer, Israel Ernst & Young’s impact on my career:Ernst & Young is where my IS audit career was launched. I was exposed to a profession I love and given powerful tools, education and professional experience.Who mentored/coached you?I worked with several Ernst & Young leaders and learned from them all. Shimon Mandaloui gave me valuable professional knowledge and encouraged my growth. Galit Dayan inspired me with her great professional and personal skills. Best learning moment: Over time I became something of an expert in ACL, our powerful computer assisted audit program, including being able to write complex scripts. Ernst & Young experience I’ll never forget: I’ll never forget my initial interview. Due to pouring rain (a rarity in Israel), traffic was backed up and I missed my train. I arrived soaking wet and 30 minutes late — and still got the job. Most people don’t know I’m … A feminist. I believe most Western workplaces have a long way to go before we can say there is true equality between the genders. Connect with me online at: [email protected]

New alumni nameLevel at departure: Risk Advisory Services Manager

Current position/company: Senior Corporate Auditor, Healthcare Compliance, Pfizer, Inc.

Current residence: New York, N.Y.

Ernst & Young’s impact on my career: Ernst & Young gave me the foundation to be successful at Pfizer. In addition to the on-the-job learning and formal training, I appreciate Ernst & Young’s sense of corporate responsibility. It taught me to reach out to create an inclusive environment where differences are respected.

Who mentored/coached you? It’s hard to name them all! The people most integral to my development were Kelly Dolson (Director, Compliance and Ethics) and Ken Bouyer (Americas Inclusiveness Leader). Also, Partners David Rudd and Tom Madden, former Partner Tim Harris, Senior Managers Brian Kearns and Josh Herrenkohl and alum Anthony Luchese.

Ernst & Young experience I’ll never forget: I participated in the Your Master Plan Program at the University of Notre Dame. It was an impressive demonstration of Ernst & Young’s commitment to professional development and showed me the importance of teamwork.

Most people don’t know I’m… There’s not much about me that people don’t already know. Most people know I’m passionate about child welfare issues.

Charitable organizations I’m involved with: I’m Director of Community Affairs for the New York chapter of the National Association of Black Accountants. I also teach Sunday school.

Connect with me online at: LinkedIn

Erika Mitchell

a step further, he says, “We need to provide these children with a fair chance to compete and to appreciate the notion of teamwork.” Through his personal giving, as well as through his Family Foundation, Blank supports a number of initiatives that focus on the critical periods of development of young people and that foster “innovative ways to transform the conditions that prevent them from realizing their full potential.” While it may sound strange coming from one of the world’s wealthiest people, Blank truly believes that, both personally and as a society, “we have a responsibility to close the gap between the haves and the have-nots.”

A drive for successArthur Blank has come a long way from Queens and his early Ernst & Young auditing days. The Home Depot, from which Blank retired as cochairman in

2001, is now the world’s largest home improvement specialty retailer, with more than 2,200 stores in the US, Canada, Mexico and China. His Atlanta Falcons are looking for a “three-peat” winning season in 2010. And his foundation, combined with the personal giving of Blank and his wife, Stephanie, will have surpassed the US$250 million mark in charitable grants. But some things don’t change. Blank will continue to live by his strong family values. And Blank’s mother, Molly (who is 95 at the time of this writing), will likely still be offering her sage advice to those who will listen. ◊

back

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“ Getting involved provides a different, wider perspective on life that can be eye-opening, inspiring — and always rewarding.”

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The young president of the largest gold mining company in the world, Ernst & Young alum Aaron Regent sees an opportunity — and an obligation — to help others.

The Midas touch

Aaron Regent

Mention gold in Canada and you are likely to hear about the country’s Olympic hockey team champions. But to Ernst & Young alum Aaron Regent, gold — as in the precious metal — well, that’s his stock and trade. At age 44, Regent is President and CEO of Toronto-based Barrick Gold, the world’s leading gold producer.

Born in Ireland and raised in Alberta, Canada, Regent joined the Ernst & Young Toronto office in 1988. “There were about 120 of us new graduates. Most of us were fresh out of school and new to the city. We were working and studying hard to pass our CA exam, but we also had a lot of fun and great camaraderie.” In fact, Regent says some of his closest friends today are his former Ernst & Young colleagues.

About three years later, Regent learned that one of the firm’s clients, Brookfield Asset Management, was looking for an associate controller. Regent approached Ernst & Young partner Barry Rowland who introduced Regent to Brookfield’s senior vice president and controller, Ed Kress, who just happens to also be an

Ernst & Young alum. Regent ultimately got the job in 1991 and within three years was promoted to CFO.

Twists and turnsOver the next ten years Regent would navigate through a number of executive-level positions within the Brookfield Group of companies. This includes a merger that briefly took him beyond the Brookfield “family,” as well as an international takeover battle that resulted in the largest transaction in the history of the mining industry. It was during this time that Regent was introduced to the art and science of mining, something he found he “thoroughly enjoyed.” In 2000, he was recognized as one of Canada’s Top 40 Under 40 and in 2005 as one of the country’s Top 40 Over the Past Ten Years. In 2006, Regent rejoined Brookfield as co-CEO of its Infrastructure Group.

Looking back, Regent says, “It was a challenging and interesting journey,” but he also notes the wonderful mentors, committed teams and learning experiences he encountered along the way.

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In January 2009, seeing “a great opportunity” to return to an industry he enjoyed, Regent joined Barrick Gold as President and CEO. At that time the company’s stock (ABX) just reached the number one spot by market capitalization on the Toronto Stock Exchange; it remains in the top 10 to this day.

Largest equity offeringUpon assuming Barrick’s leadership, Regent acted quickly to address the company’s hedge book, where gold is sold at fixed prices through pre-arranged contracts, rather than the market price at the time of sale. With the gold price per ounce at historic highs, and a widely held consensus that the price environment was favorable to moving

even higher, Regent eliminated Barrick’s gold hedges through a US$4 billion equity offering. Announced in September 2009 and completed by Q4, 2009, it was the largest Canadian equity offering ever brought to market, the largest gold equity offering and the largest bought deal globally and gave Barrick full leverage to gold prices.

Production — at a glanceWith 26 working mines on five continents, in 2009 Barrick produced 7.4 million ounces of gold — the most of any mining company. (As of this writing, gold was trading for over US$1,100 an ounce). Also in 2009, Barrick produced 393 million pounds of copper.

In the mining business, what’s in the pipeline is just as important as what you are producing currently. Over the next few years, Barrick will begin operating a number of “next generation” mines, including three of its most advanced (i.e., lower cost) projects: Pascua-Lama (straddling the border between Chile and Argentina), Cortez Hills (Nevada) and Pueblo Viejo (Dominican Republic)

Mining their own business … and others’

“The great thing about our industry,” says Regent, “is that, while enjoying the commercial side of business, we can also have a profound and positive impact on the communities where we operate.” (Frequently, these communities

Getting involved8

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New alum snapshot

Level at departure: Senior Associate

Current position/company: Science teacher with Teach For America, a not-for-profit organization dedicated to eliminating educational inequity in the United States

Current residence: New Orleans, La.

Ernst & Young’s impact on my career: I was extremely lucky to experience a variety of professional opportunities during my time with the firm. Should I ever decide to return to the business world, my success will be grounded on the skills that I built as an Ernst & Young global account coordinator and marketing associate.

Who mentored/coached you? Beth Bemis-Caponetto, who was Global Markets Leader for the Media & Entertainment Industry Center, helped turn me into the person who I am today. My success — and my students’ success — is in large part tied to the guidance I received from Beth.

Ernst & Young experience I’ll never forget: Pulling an all-nighter as part of a global pursuit team on a big opportunity to turn out a quality proposal response.

Most people don’t know I’m… An accomplished juggler.

Charitable organizations I’m involved with: Teach For America, AmeriCorps

Connect with me online at: [email protected]

Joshua Stanton

are located in third-world and developing countries). For example, Regent notes that the income and economic activity generated by mining frequently create much-needed jobs, improve education and health care programs and provide significant investment in local and country infrastructure. In addition, Regent is committed to making Barrick an industry leader in terms of social and environmental responsibility. As evidence of this commitment, in 2009 Dow Jones named Barrick to its world-wide Sustainability Index for the second consecutive year, and to the North American Sustainability Index for the third year in a row. “This is all part of what becomes our legacy,” adds Regent.

A moral responsibilityPersonally, Regent gives back through his service to the SickKids Hospital of Toronto, where he serves on the board of directors of the SickKids Foundation. He is also a director of the C. D. Howe Institute, a nonpartisan, nonprofit organization

that aims to improve Canadians’ standard of living by fostering sound economic and social policy. Regent adheres to the philosophy that those who are able have a “moral responsibility to support and improve the broader community.” And “at the risk of sounding cliché,” he says he firmly believes that the more you put into community involvement, the more you get out of it: “Getting involved provides a different, wider perspective on life that can be eye opening, inspiring — and always rewarding.”

When not travelling the globe for Barrick, Regent enjoys spending time with his wife, Heather, and his three young daughters. In fact, he says his greatest thrill in life is watching his girls grow, learn and experience new things. While gold plays a central role in Aaron Regent’s life, it’s his family, he says, that’s truly most precious. ◊

Getting involved

“ The great thing about our industry,” says Regent, “is that, while enjoying the commercial side of business, we can also have a profound and positive impact on the communities where we operate.”

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Whether she’s preparing financial statements or helping the less fortunate, alumna and former Miss America Kimberly Aiken Cockerham displays remarkable commitment and enthusiasm.

If you were on the beach in Cancun last spring, you might have seen Kimberly Aiken Cockerham diving into the water in her scuba gear. An avid diver and triathlete, Cockerham has a zest for life that is balanced by a lifetime concern for those in need. Crowned Miss America 1994, Cockerham feels lucky, and she is always eager to help those who have not had her advantages.

Raised in Columbia, South Carolina, Cockerham attended the University of North Carolina-Charlotte and fell in love with accounting. At the age of 19, after a year of school, she followed her mother’s advice and entered the Miss America pageant. The appeal was simple: the prospects of college scholarship funds that would help pay for her education. After being named Miss South Carolina (and winning her first scholarship award), she headed to Atlantic City and won the national competition. It was

an extraordinary moment. Both sets of grandparents, who had grown up in the then-segregated South, beamed with pride as they witnessed their granddaughter named Miss America, only the fifth woman of color to wear the crown. “That moment, more than anything, made the competition worthwhile,” Cockerham recalls.

A year of buildingOnce a contestant is named Miss America, she spends the next year devoting time to the cause of her choice. Cockerham chose Habitat for Humanity. The organization reflected her longstanding concern about homelessness. As a teenager, she had witnessed the problems of homelessness first-hand, particularly on a high-school trip to Washington, D.C. Moved by the plight of the homeless, with her parents’ support Cockerham founded an organization that helped people acquire the tools they needed to seek employment. This included computer resources for preparing résumés and business-appropriate clothing for interviews.

Later, as Miss America, Cockerham traveled to many communities helping people build houses that they were otherwise unable to afford. “So many

people don’t have a home of their own and cannot even dream of it,” says Cockerham. “You hear their stories and meet their families. I learned that there are many people in this world who have much less than I do. It’s a lifetime lesson.”

Taking the plungeKimberly Aiken Cockerham

“ My status as an Ernst & Young alum carries more weight than anything else on my resume.”

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Crowned Miss America 1994, Cockerham feels lucky, and she is always eager to help those who have not had her advantages.

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New alum snapshot

Level at departure: Senior

Current position/company: Senior IT Audit Consultant, Baxter International, Inc.

Current residence: Wheaton, Ill.

Ernst & Young’s impact on my career:My Ernst & Young experiences gave me great insight into various organizations and created many wonderful lasting relationships. I think it will permanently shape how I approach any future jobs.

Who mentored/coached you? Everyone, but especially those managers and senior managers who I worked with the most. I keep in touch with many of them even now.

Ernst & Young experience I’ll never forget: My very first engagement; it showed me that a great team can make even six months of Milwaukee winter feel like a great time.

Most people don’t know I’m… A fan of romantic comedies, as sad as that is.

Charitable organizations I’m involved with: World Relief (refugee assistance), Juma Ventures (education assistance) and activities through my church.

Connect with me online at: [email protected] and LinkedIn

Justin Lin

The Ernst & Young experience After her year as Miss America, Cockerham entered New York University’s Stern School of Business as an accounting major. When Ernst & Young’s Ken Bouyer (now the firm’s Inclusiveness Recruiting Leader) and Dan Black (currently Ernst & Young’s Americas Director of Campus Recruiting) interviewed her on campus, she jumped at the chance for an internship. Almost immediately, she was captured by the culture and the people of Ernst & Young. The summer of her internship was, according to Cockerham, “the best I ever had.” She was impressed by the various organized activities and the programs that Ernst & Young created to help interns understand what it meant to work at the firm as a full-time professional. She attended the International Intern Leadership Conference and was delighted with the diversity of the young people she met.

It’s not surprising that upon graduation from NYU, Cockerham accepted a position with Ernst & Young’s Cincinnati office. She spent four years in the audit practice, primarily serving healthcare clients, and was mentored by Lisa Mather, currently a partner in the Cincinnati office. “Lisa was a wonderful role model. She had great relationships within the firm and enjoyed the respect of partners, colleagues and staff.”

The entrepreneurial urgeCockerham left Ernst & Young in 2001 with mixed feelings. She enjoyed every day of work, but as the daughter of parents who each ran their own business, she had a strong desire to start her own. After operating a franchise for a little over a year, she and her husband, marketing executive Haven Earl Cockerham, learned they would be parents. She left the franchise and spent the next four years

being a full-time mom. Today she has an eight-year-old son, Russell, and a five-year-old daughter, Camryn.

After her son entered kindergarten, Cockerham was eager to start her own business again. She wanted to return to accounting. Her father-in-law, who was launching a diversity strategy consulting business, needed a controller. She was

At home in Ohio: Kimberly Cockerham with her children Camryn and Russell. The entire family participates in local community service activities.

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glad to step up. Since then, Cockerham has taken on two additional clients. She enjoys working with small-business owners “who need to devote their time to serving clients and growing, not keeping the books.” She and her whole family are also active in the community. Her children have joined her at the local YMCA, where they donate their used books and clothing to other children. Says Cockerham, “It’s

important that my kids meet children whose lives are different from theirs — and to understand that we can help.”

Cockerham advises young people to maintain their ties with Ernst & Young. When she meets someone new professionally, the subject of Miss America never comes up, but she frequently mentions her time at Ernst & Young:

“While winning Miss America was a huge accomplishment, my status as an Ernst & Young alum carries more weight than anything else on my résumé.” ◊

Commitment”It’s important that my kids meet children whose lives are different than theirs — and to understand that we can help.”

Kimberly Aiken Cockerham enjoys hearing from other Ernst & Young alumni. She invites you to catch up with her at [email protected].

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Bill Kimsey remembers walking down Sixth Avenue in New York City one evening with then Ernst & Young chairman Phil Laskawy. It was the summer of 1998. And Kimsey recalls saying to Laskawy that, despite the organization’s success in the US, “If we don’t bring Ernst & Young together globally, then we won’t have done our jobs.”

Making a world of difference

Bill Kimsey

Within a few months, Kimsey was tapped to do just that: the following October he relinquished his post as Chief Operating Officer of Ernst & Young LLP for the newly created post of Global CEO. He soon discovered that he had taken on not just a new position, but the challenge of his life.

“It was phenomenally difficult,” reflects Kimsey, “clearly the toughest assignment in my 30-plus years with the firm.” Kimsey describes Ernst & Young’s globalization efforts up to that point as being largely about collegial get-togethers and sharing experiences among member firms. Despite the desire to portray Ernst & Young as one global organization, “We really weren’t there yet,” he says. “We could see the demand, but we weren’t coordinated or organized to serve global companies the way we needed to.”

Over the next four years, Kimsey and his team worked to piece together a framework to support a truly global

organization. It wasn’t easy. While most partners agreed it was the right thing to do, in other ways it was “like going against human nature,” recalls Kimsey. “We were asking partners around the world to give up some of their autonomy and to trust us.” And that took some doing.

A brave new (global) worldFinally, the long months of globe-hopping and trust-building paid off. In December 2001, the documents were signed that, according to Kimsey, “really put the new global structure together.” Then, almost immediately, came the bombshell that rocked the business and accounting world: Arthur Andersen was dissolving under the weight of Enron.

As it happened, Ernst & Young’s newly adopted global structure positioned its member firms to capture most of the former Arthur Andersen practices, which were already well integrated worldwide. Within months, Ernst & Young acquired 57 of

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Thinking globally, acting locallyWhile Bill Kimsey has been in the global spotlight most of his professional life, it’s the charitable work he does in his community that provides some of his greatest satisfaction. Since relocating to Santa Barbara, Kimsey has joined the board of Path Point, an organization that serves the developmentally disabled — “the forgotten people,” as Kimsey calls them. He also serves as vice chairman of the board at the Cancer Center of Santa Barbara, which is currently raising $33 million for a new cancer treatment facility. The Kimseys cochair the steering committee for the fundraising effort. In addition, Nancy Kimsey works closely with a local hospice. “The more involved we become with these groups, the more important I feel it is that we do so,” says Kimsey. “It just makes sense for those of us who’ve been so blessed to give back to the greatest of our abilities.”

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those practices, more than any of the other Big Four. By the end of 2002, Ernst & Young had grown globally by 25% and was ranked first or second in seven of the top 10 markets in the world.

“Our globally integrated organization is creating a competitive advantage for both our clients and people, alike” says current Global CEO and Chairman Jim Turley. Turley gives much of the credit for that integration to Kimsey, who Turley says “helped create a new global organization.” But Kimsey is quick to add that he didn’t do it alone: he acknowledges the vision and support of executive partner and former Global COO, Paul Ostling, as well as former CEOs and chairmen Bill Gladstone, Ray Groves and Phil Laskawy. Kimsey also recalls the encouragement and guidance he received from his long-time friend and mentor, former chairman Bill Kanaga (see our Winter 2009/2010 issue for a look at how yesterday’s leaders helped build today’s Ernst & Young — you can view the issue at http://www.ey.com).

Expanding his global footprintSince retiring from Ernst & Young in 2002, Kimsey has hardly slowed down. In a post-Sarbanes-Oxley world, his global experience has made him an in-demand executive. He currently serves on the boards of Accenture, Royal Caribbean Cruises, Parsons Corporation and Western Digital Corporation. He also previously served on the board of NAVTEQ, the map software company recently acquired by Nokia. When considering the boards he would serve on, Kimsey says he was looking for opportunities that would allow him to leverage and expand his “global footprint.”

While he still prefers hands-on management over board work, there are some advantages to the latter. “As a board member, I can ask about everything without all the day-to-day operational responsibility — that’s a nice change of pace,” he says with a smile.

New worlds to conquer While Kimsey was serving as West Region Managing Partner of the US firm, he and his wife, Nancy, fell in love with the area around Santa Barbara, Calif. So, soon after retiring, the Kimseys started dabbling in real estate there (even though, as Kimsey admits, “We

didn’t know the first thing about it.”) First, they developed a couple of mixed-use buildings. They then spent more than four years building their new home overlooking the Pacific Ocean. Kimsey calls it Villa di Serenita — “house of serenity” — but is careful not to refer to it as his dream home. “People who build ‘dream homes’ seem to pass away soon thereafter,” he laughs, “and we plan to be there a while.”

The Kimseys’ most recent challenge involves another new world: grapes. The couple has recently planted more than 22 acres in a 45-acre vineyard they are

Think global

act local

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developing. The goal is to grow and bottle a “luxury” wine under their own label. Vintner Kimsey calls the work some of the most interesting he’s ever done.

The best is yet to comeKimsey isn’t surprised at the ongoing trend toward globalization. What does amaze him is the pace at which it’s happening. As for Ernst & Young, Kimsey is “just thrilled” with the progress he sees, saying that, globally, Ernst & Young has come “further and faster” than he ever could have hoped for. The end result, he says, is new opportunity for people around the globe. And that is how Bill Kimsey has made a world of difference. ◊

Globalization is the buzzword of the 21st century, but what does it mean in practical terms? We explored that question in a recent report — Redrawing the map: globalization and the changing world of business — based on a survey that the Economist Intelligence Unit (EIU) conducted for Ernst & Young.

Our research defined globalization as the level of a country’s integration with the world economy through the exchange of goods, services, labor, technology and culture. Using statistical data, the EIU developed a globalization index that measured the performance of the world’s 60 largest countries on 20 separate indicators of cross-border integration. In addition, 520 senior business executives were surveyed worldwide, and 30 respondents were interviewed in depth.

One of our key findings was that most companies fall short on the diversity of thought and culture needed to handle global business. Nearly 40% of the businesses surveyed obtain more than half their total revenues from global markets; in three years’ time, some 54% of respondents expect to do so. But boards of directors seldom reflect the global reach of their businesses. Almost half of the companies operating in 25 or more countries admitted that they had at most only a couple of foreign nationals on their boards. Yet they cited globally experienced staff as the leading cultural factor in conducting business around the world.

“The most important thing is diversity of thinking,” pointed out Ahmet Bozer, President of the Eurasia and

Africa Group of The Coca-Cola Company. “That means having executives who understand both emerging and developed markets. You have to operate at a different level where you can deal with the full range of business opportunities and issues.”

Managing those issues will require agility and a spectrum of viewpoints. Our survey shows that although globalization reversed briefly during the financial crisis, it will resume as the world’s economies recover. Governments and regulators will play a dominant role in pushing for integration. “Our globalized world demands greater global coordination and consistency in corporate governance, accounting and auditing standards,” says Beth Brooke, Global Vice Chair, Ernst & Young. “Achieving that goal would make it easier for the business and investment community.”

In the post-crisis world, companies will still expand geographically, but will rebalance local and global strategies while innovating. Emerging-market firms will profoundly alter the business outlook as they ramp up the pace of domestic growth and branch out into developed markets. In this context, a lack of diversity of thinking and experience at the senior management level could leave firms in the dust as they race to compete. ◊

Diversity of thinking is most important in global business

To view the report please go to www.ey.com/globalization or contact Sarah Branley, Global Brand Development Manager, at [email protected]

Nancy and Bill Kimsey outside their Villa di Serenita

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Americas Area Managing Partner

The makings

of a great alumni

relations program

Steve HoweA few weeks ago I received the welcome news that Ernst & Young ranked 44th on Fortune’s 2010 “100 Best Companies to Work For” list. It’s our twelfth consecutive year on the list and, again, Ernst & Young ranks highest among the Big Four. Naturally, we’re quite proud of this. However, I mention it here because, of the dozens of things that Fortune could have mentioned about Ernst & Young, they chose to highlight our efforts to “cultivate” relationships with and between our alumni. They also singled out Connect, the publication you are now reading.

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As I reflect on our recent “good fortune,” two things spring to mind: One, the significant progress of Ernst & Young’s alumni efforts over the past two years, and two, the role that alumni played — and still play — in helping make Ernst & Young such a great place to work. This doesn’t just happen overnight. We recognize that this achievement, along with numerous other awards the firm has received over the years, is the fruit of seeds planted long ago by many of you, our alumni.

I recently had the pleasure of speaking at the Great Places to Work Institute’s annual conference. My remarks focused on the critical nature of continuing to develop people — our future leaders — even in this difficult economy. During my comments I proudly pointed to our alumni as proof of what happens when you commit to invest in your people while, at the same time, your people commit to be the best: according to a recent study, more CEOs of publically traded companies with market values of US$2 billion or higher are alumni of Ernst & Young than they are alumni of

any other Big Four firm, causing USA Today to rank Ernst & Young among its top 20 “CEO factories.” *

Due to the incredible impact our alumni have on the firm, the market and our communities, a few years ago I went to our Americas Executive Board with a request. I wanted to see the firm step up its investment in our alumni relations efforts. What do our alumni want and need from Ernst & Young? How can we best deliver that? How do we keep the special relationships you formed here alive and of value? In short, I wanted to know what it would take to build a truly leading-class alumni relations program.

I’m pleased to say that, while we’re not there yet, we’re certainly making progress. We appointed Jeff Anderson as our Americas Director of Alumni Relations. We tapped senior partners across the Americas to serve as alumni champions. And we formed local Alumni Councils — comprised of some 300 of you — in over 20 cities. In short, we’re talking to more alumni more often about what’s most important to you. As a result, over the

past two years I feel we have advanced our alumni relations effort significantly, largely based on your input and ideas.

So what does it take to have great alumni relations? I think it is three things: a commitment from the top, a culture that values alumni and, of course, great alumni. First, you have my word that Ernst & Young is committed to alumni — as Americas Managing Partner it’s one of my strongest passions. Next, alumni are not just part of our culture, but as I frequently hear Chairman and CEO Jim Turley say, you are key members of Ernst & Young’s “extended family.” And as to having great alumni, well, that’s easy: when you start with the best people, they tend to be the best alumni (just read about some of the things our alumni have accomplished and their passion for giving back in this issue of Connect).

I suppose I’m a bit biased when I agree with Fortune and DiversityInc and Working Mother that Ernst & Young is a great place. I’m also certain we would not be that place if not for our alumni. ◊

* “Some firms’ fertile soil grows crop of future CEOs,” USA Today, January 2008. Study by Capital IQ, a division of Standard & Poor’s, January 2008.

Thanks to you …Just a few of the other recent awards our alumni have helped Ernst & Young achieve over the years.

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From Philadelphia to London to Mumbai, Fanny Chu-Fong is breaking new ground. As Director of the University of Pennsylvania’s Global Alumni Network since 2002, Chu-Fong spends much of her time traveling the globe, cultivating a growing network of the school’s alumni volunteers in the US and throughout her own assigned region of Asia, Europe and Australia. Despite her hectic travel schedule, Chu-Fong is enthusiastic about going to work every day. What inspires her? “It’s the connection to Penn — wherever I go, I am amazed at how much people love the institution.”

Making connections on the alumni trail

Fanny Chu-Fong

As a Penn graduate, Chu-Fong shares her fellow alum’s enthusiasm. And it shows in her work. Since she came on board, the number of Penn alumni clubs has more than doubled, with much of that growth occurring outside the US. The increase in the number of international undergraduate students at Penn saw overseas clubs launched at a remarkable pace.

Chu-Fong notes a strong connection between her current role and her experience at Ernst & Young: “It’s all about customer service.” She joined Ernst & Young in 1996 after graduating from Cornell University’s School of Hotel Administration with a Masters in

Management Hospitality. She joined the Atlanta office as a consultant with the Real Estate industry practice. She served clients in a diverse range of properties — hotels, office parks, convention centers and high-rise commercial spaces — working with former Ernst & Young manager Adam Lorry, whom Chu-Fong describes as “a fantastic mentor guiding me on the ins and outs” of consulting and the importance of delivering quality client service. Today, Lorry, who has his own real estate business, is one of her closest friends. She also maintains a strong connection with Ren G. Carter, another former manager and mentor from her Ernst & Young days.

After a few years in the South, Chu-Fong had a growing desire to move closer to her family in New York City. She relocated to nearby Philadelphia, where she assumed her first professional role in the not-for-profit world: a finance position at Maccabi USA, an organization that supports athletic events on behalf of Israel and the US Jewish community.

After four years, she was seeking new challenges. Her timing was auspicious, as Penn had just launched its first hometown alumni club. Chu-Fong quickly dove in, working part-time on a large fundraiser for the Penn club. The event was a major success. Before long, she was offered

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the post of Global Alumni Director. As a devoted alum, she was excited “to work on campus every day.”

Commitment to community Community outreach is an integral part of the Penn alumni experience. Through Penn Cares, alumni can identify numerous volunteer opportunities available through different clubs. For example, one club pitches in at a local food bank while another adopted and helped to train a seeing-eye dog. To help maximize the clubs’ effectiveness, Chu-Fong and her staff are now in the process of bringing all US-based Penn Cares activities under one organizational umbrella.

Continuing traditionsOne of the most exciting alumni developments at the university, says Chu-Fong, is the Penn Traditions program. Launched five years ago, this initiative introduces the alumni program to students from the moment they arrive as freshmen. The alumni association president speaks to students about the value of a lifetime commitment to the school. This theme continues through events during the next four years, as students are encouraged to take advantage of alumni programs such as mentoring. “We want to increase senior giving and get alumni into the habit of putting Penn on their list for regular donations,” Chu-Fong explains.

Penn Traditions has been so successful that it is viewed as a best practice by other universities, which have asked for presentations on the program.

When she’s not working, Chu-Fong enjoys watching the Food Network and turning out culinary creations at home. She credits her family for her belief in the value of hard work. Chu-Fong was born in Trinidad, where her parents worked long hours running a grocery store. “I enjoy working and have high expectations,” she says. Noting that time is precious, she advises young people to “work at something that makes you happy, where the people are great.” ◊

“ Work at something that makes you happy, where the people are great.”

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During high-powered careers at Ernst & Young, David Betsill and Mary Kane Betsill discovered their common values — and each other.

Going for the goldMary and David Betsill

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Family first

The Betsills together: Jack, Mary, Jimmy and David.

One night in the summer of 1996, David Betsill, then an Ernst & Young partner based in Atlanta, and Mary Kane, a senior manager in Chicago, got together to attend the Olympics in David’s hometown of Atlanta. Later that evening, Mary was thrilled to learn that she had made partner. “I thought I had won the gold,” Mary jokes now. As it turns out, Mary had also found another kind of partnership: she and David were married a year later.

According to the Betsills, Ernst & Young not only brought them together — they met on an Audit Quality Review — but has supported them in their roles as professionals and as parents. “We share a genuine commitment to family and to helping others,” says Mary. In addition, both have been very dedicated to their careers. At Ernst & Young, “both of us were beneficiaries of tremendous mentors and good friends,” recalls David, who formerly served as Ernst & Young’s Retail and Consumer Product Industry Leader in Chicago and started the Transaction

Advisory practice in the Southeast. These shared experiences contributed to a lasting bond with their colleagues.

Putting family firstDavid and Mary have two sons, 10-year- old Jimmy and 8-year-old Jack, who is autistic. The couple has been active in autism-related organizations — for example, chairing an art auction for the Marcus Autism Center. When David took early retirement in 2009 (after more than 30 years with Ernst & Young) he looked forward to spending more time with his sons, working on his golf game and becoming more active in organizations that address the needs of individuals with autism.

In the summer of 2009, Mary was named Assurance Managing Partner for the North Central Sub-Area (now the newly formed East Central Sub-Area) and the Betsills moved to Cleveland, Ohio. The change was a stroke of good fortune for the family as well as for Mary’s flourishing career. The city has

an exceptional range of resources for autistic children and their families. Jack attends the Cleveland Clinic Lerner School of Autism, one of the country’s leading autism research and diagnostic centers. The Betsills are active supporters of the Lerner School and the Autism Family Foundation of Northeast Ohio. As for the future, David plans to pursue a position on the board of one of the many Cleveland institutions that help improve the lives of those with autism.

No serious discussion with the Betsills is complete without a mention of professional sports. On many days, Jack, Jimmy and David can be spotted at major sports venues cheering on the Atlanta Falcons, the Cleveland Cavaliers or the Cleveland Indians.

Staying connected, looking aheadWhile Mary continues her plus 25-year career with the firm, David enjoys staying in touch with long-time Ernst & Young colleagues and has fond memories of serving as recruiting director for the Atlanta office, saying that bringing great people into the firm was one of his most rewarding experiences.

For those alumni on the verge of retirement, David has some advice: “Start thinking about how you would like to spend your time, and what organizations you’d enjoy getting involved with. Planning now will make the transition easier and your retirement more rewarding.” ◊

“We share a genuine commitment to family and to helping others.”

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A passion for manufacturing has taken former audit manager Carol Lowe to C-suite positions at Carlisle Companies (a Fortune 1000 company) and Trail King Industries — and to Mitchell, S.D. (pop. 14,500).

Carol Lowe remembers the first time she arrived in Mitchell, S.D., home of both the Corn Palace and Trail King Industries, the company to which she was named President in November 2009. Mitchell is located an hour’s drive from the nearest major airport. Farming and ranching are its biggest businesses; hunting and fishing its principal pastimes. Walking through the Trail King plant that cold November day, Lowe recalls one of the welders pointing to her high-heeled boots and asking if that was the only footwear she owned. If so, he said, she was in trouble. Lowe remembers thinking, “This is a big change for a girl from the South.”

A passion for making thingsBorn and raised in Monroe, N.C., Lowe joined the Charlotte office of Ernst & Young in 1987. Immediately, she discovered a passion for her manufacturing clients. “I just loved seeing things being made,” she says, “whether it was textiles or rebar — it just absolutely fascinated me.” That fascination would set the course for Lowe’s career.

Lowe continued at Ernst & Young with no intention of leaving. About that same time, National Gypsum relocated its headquarters from Dallas to Charlotte and was looking for a financial reporting manager. Seeing an opportunity to work full-time in manufacturing, Lowe made the switch in 1994.

Fitting inLowe’s love for manufacturing helped her quickly rise through the ranks at National Gypsum. Within six years she progressed to Treasury Manager, then Assistant Treasurer and finally, in 2000, to Treasurer. But her attraction to this largely male-dominated industry also put her in a unique position: among the company’s top 100 managers, she was the only woman. And she was the first woman to hold a director-level spot at National Gypsum in many years.

It was a position that prepared her well for the phone call she received in December 2001. Another company was relocating to Charlotte and looking for a treasurer: This time it was the Carlisle Companies, a

Off the beaten path

Carol Lowe

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diversified industrial conglomerate that makes everything from tires and roofing materials to the wiring and cabling used in the new Boeing 787. Stepping into the Treasurer position, Lowe felt herself on familiar ground: “I was still the only female officer for the entire company,” she said. By 2004, after an intensive internal and external search, Lowe was named Vice President and Chief Financial Officer for the entire Carlisle organization.

No seat is your ownJust as Lowe was settling into her latest position, in 2007 Carlisle named Dave Roberts its new Chairman, President and CEO. “Dave has a motto that ‘no seat is your own,’” says Lowe. This means that Roberts doesn’t like people occupying the same position for long periods of time. Rather, he wants to build cross-functional teams, giving each member hands-on experience in a variety of settings. For Lowe, that meant temporarily giving up her CFO slot and becoming President of Trail King Industries, the heavy-haul trailer maker and wholly owned subsidiary of Carlisle Companies.

Once again, Lowe found herself in a largely male-dominated industry — and perfectly at home. “I just love it,” she says. “I’m a problem solver and Trail King develops customized trailers for special needs, so it’s a great fit.”

Camouflage and lipstickToday, Lowe splits her time between the company’s headquarters and plant in Mitchell, a second facility in Fargo, N.D., and her home in Charlotte with her husband Tim and son Parker (age 17). While she’s grown accustomed to working in heavily male-dominated fields, there are still a few things that take some getting used to. “Whereas at Ernst & Young we might have invited clients to a golf outing, with Trail King it’s more likely that we’ll go hunting or fishing.” Case in point: Lowe was recently invited to a corporate wild pig hunt. “I’ll attend, but I’m not going to hunt,” she says. “Besides, I’m never sure what heels and lipstick go best with camo,” she adds, laughing. ◊

Giving backIn 1996 Carol Lowe’s father, Terry, was involved in a near-fatal car wreck and suffered permanent brain damage. Since then, Lowe and her family have been heavily involved in the Brain Injury Foundation. Lowe’s mother, Peggy, joined the Foundation full time. Each year for the past 11 years, Lowe and her family have helped prepare a Christmas luncheon for 200 individuals with brain injuries throughout the Charlotte area. Before beginning her monthly commute to the Dakotas, Lowe was also a board member of the Metrolina Association for the Blind in Charlotte, N.C. ◊

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My point of view

LeadershipAn unequivocal

CFO requirement

Charles B. Eldridge

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During his tenure at Ernst & Young, former partner Chuck Eldridge served as the US firm’s first National Director of Recruiting and University Relations. It was a side of the business, he discovered, that he absolutely loved. After holding that position for more than five years, he then rotated into other roles, including a two-year stint in Moscow. Shortly after returning to the US in 1996, the former recruiter found himself being recruited by an executive search firm. Seeing an opportunity to pursue his “true passion,”

Eldridge left Ernst & Young to enter the recruiting world full time. Today, with almost 14 years of executive placement experience under his belt, Eldridge serves as Senior Client Partner with Korn/Ferry International, the world’s largest executive search firm. Based in Atlanta, Eldridge works in Korn/Ferry’s Financial Officers Center of Expertise, which he formalized in 2002, and where he helps place finance executives for many of the largest and most prominent companies throughout the world.

In the mid-1990s, General Electric CEO Jack Welch told Inc. magazine what fate has in store for companies that don’t adapt: “When the rate of change outside exceeds the rate of change inside, the end is in sight.”

Welch’s words feel even more applicable today — particularly if you’re sitting in the chief financial officer’s chair. The ability to deal with ambiguity and change — far more so than deep technical expertise — is now the most sought-after quality for a CFO.

Indeed, the demand for top-flight financial officers appears poised to rise across all industries. The global financial crisis created a temporary surplus of finance executive talent in recent years, but the uptick in CEO turnover suggests job openings are coming. Most new CEOs either bring in a new CFO or start looking for one shortly after they settle in. Finance executives who hope to

leverage this opportunity in a tough job market must understand what CEOs are seeking today.

One common CFO search requirement is somewhat restrictive, particularly for current Big Four audit partners and senior managers: companies often want to have a sitting CFO as their next CFO. This reflects a “ripple effect” of regulation. Prior to the Sarbanes-Oxley Act of 2002 (SOX), corporations would frequently offer the CFO position to their audit partner, who typically had established relationships with the CEO and the board, and who knew the lay of the land. If the audit partner had an MBA, even better. SOX quickly renewed the perceived value of a CPA qualification and technical accounting skills. But then the financial crisis hit, and the pendulum swung back toward an emphasis on the CFO as a CEO’s strategic partner, one who expertly manages cash and helps drive business growth.

These hiring conditions mean that finance professionals seeking a CFO job or other senior position must strengthen their candidacy in a number of ways:

• Understand leadership requirements. Although functional expertise (e.g., corporate finance, treasury, controllership) is a requirement, it gets a CFO candidate only so far. Leadership qualities are much more important. They commonly appear on CFO search specification sheets phrased this way: “clever problem solver,” “thinks strategically,” “changes behaviors easily,” “performs well under all conditions,” “low tolerance for marginal talent” and “deals with complexity and ambiguity very well.”

• Embrace forward-looking analytics. Financial planning and analysis (FP&A) expertise represents, by far, the most sought-after functional skill set within the finance function today. CFOs

by Charles B. (Chuck) Eldridge

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remain hungry for FP&A talent who can help them look ahead with greater clarity and accuracy.

• Network aggressively. References and recommendations matter more than ever. In the post-SOX era, CEOs and board members focus first and foremost on balancing risk and business growth, and they want to feel confident about any new CFO. The best candidates continually strengthen their networks, even when they don’t “need” to.

• Go global. Scan the résumé of most Fortune 500 CFOs and you will see that many made geographic moves — including stops in EU countries, South America, the Middle East and Asia-Pacific — every two to three years. Experience abroad is a necessity for today’s CFO.

• Stay on the job longer, especially early on. Current auditors should recognize that experience as a senior manager in a Big Four firm resonates with hiring teams in the same way that an MBA does. Auditors who leave their firms before becoming senior managers or partners generate far less career return on investment from their public accounting experience.

Of course, understanding the demands of leadership is only a first step. Demonstrating these qualities matters more — particularly in fast-changing and uncertain times. But one thing remains constant in CFO searches: leadership pays handsomely. ◊

More about Chuck Eldridge

• Served as the US firm’s first National Director of Recruiting and University Relations

• While based in Russia, served as the engagement partner for a global roster of clients, including The Coca-Cola Company, McDonald’s and American Express

• Currently serves on the University of Florida Business School Advisory Council

Leadership

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Growing up, Yee would often hear his mother and father speak about the United States in Chinese phrases that translated into “beautiful country” and “gold mountain,” euphemisms for opportunity and a better place. “My parents, who only had a sixth-grade Chinese education, were hugely appreciative of the opportunities in this country,” says Yee. And they made it clear to Yee and his siblings that they should be grateful, too, and to look for opportunities to give back whenever they could — “no matter how much or how little we had.”

Crediting teachers who “guided and inspired” him, Yee excelled in school and graduated from both the University of California-Berkeley and Stanford. While working his way through undergraduate school, Yee saw yet another instance of the “pay it forward” principle in action: He was working in finance at Chevron Corporation and had a tremendously helpful mentor who was the controller. “One day I asked him how

I could ever repay him,” Yee recalls. The mentor replied that Yee couldn’t repay him, but rather, that Yee should do good for others when he had the chance.

Upon earning his MBA from Stanford in 1979, Yee joined Ernst & Young in San Francisco as a consultant and made partner at age 30. A short while later, he was named Office Managing Partner of the former Walnut Creek, Calif., office. Then, in 1993, Yee surprised friends and colleagues with the news that he was leaving public accounting — with no specific plans or job offer on the table. Although he “loved the firm and the clients and his colleagues,” Yee says, he simply decided he wanted to take some time off for his family and to consider new challenges. “I always remembered the Dean of the Stanford Graduate School of Business telling us to never be afraid to ‘re-pot,’ and I just felt it was time to try something new, especially with the terrific experience gained at Ernst & Young.”

Visions on giving back

Donald Yee

If there’s one word that might best describe former Ernst & Young partner Don Yee, it’s this: appreciative. A first-generation American, Yee still marvels that the son of Asian immigrants can wind up going to Stanford University and ultimately become president and CEO of a division of a Fortune 21 company. “It’s humbling,” says Yee, and it’s instilled in him a desire to give back and to strive to make a difference every day.

As president and CEO of a division of the United Health Group and board member of Blue Diamond, alumnus Donald Yee strongly believes in paying it forward.

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New alum snapshot

Level at departure: Senior Manager

Current position/company: Accounting Doctoral Scholars Fellow, University of Pittsburgh

Current residence: Murrysville, Pa.

Ernst & Young’s impact on my career: The professional and technical experience I gained at Ernst & Young were invaluable, especially now as I develop research interests in academia that hopefully will bring real world concerns to the “ivory tower.”

Who mentored/coached you? Pittsburgh Partner Chuck Lenns did a great job teaching me not only tax, but also how to teach others and to appreciate all types of business issues. Women such as Marian Mignogna (current Senior Manager) showed me how to keep everything (career, kids, family) in balance.

Ernst & Young experience I’ll never forget: Being stuck in a car for 12 hours with (Partner) Chuck Lenns and (former Senior Manager) Jay McBride. The car died while returning to Pittsburgh from a client meeting in Buffalo.

Most people don’t know I’m… Not opposed to watching The Real Housewives of New Jersey when no one is looking.

Charitable organizations I’m involved with: Mother of Sorrows Church, Girls on the Run, University of Pittsburgh Doctoral Student Committee

Connect with me online at: [email protected]

Michele Frank

For the next five years, Yee served as a business advisor and interim CEO for a number of companies and private equity groups. In 1998, one of his former clients, Vision Service Plan (VSP), asked Yee to join the company as its Chief Marketing and Corporate Development Officer. After helping to build VSP into the undisputed industry leader and running several of the business units, including serving as the

founding CEO of Eyefinity (an Internet-based management services company), Yee became CEO of the VSP Family of Companies in 2005. Three years later, Yee took on his current position as president and CEO of OptumHealth Vision, a division of United Health Group. He also sits on the board of Blue Diamond, the world leader in the almond products industry.

Today, Yee continues to express his appreciation through giving back. Emulating his role models at Chevron and at Ernst & Young, particularly retired Ernst & Young partners Bob Hackman, Brian Belchers and Jim Farris (now

deceased), whom Yee describes as his no-nonsense boss, friend and mentor, Yee finds great fulfillment in coaching and developing others. In addition to more traditional charitable giving, at a previous company Yee personally pledged to match whatever dollar amount the 120 employees there raised to assist victims of the tsunami that devastated much of Indonesia in 2004.

And Yee and his wife, Gail, are currently involved in the American Cancer Society and a local charity, Christmas Promise, which on Christmas Eve has several dozen Santas delivering hundreds of bags of toys and essentials to needy Sacramento area families.

As for his future plans, Yee says it’s simply to continue to strive to make a difference every day. “You don’t have to be a Nobel Prize winner,” he says. “If you can look in the mirror each night and say, ‘I made a difference,’ if you can do a little every day, then over a lifetime, that’s huge.” ◊

differenceMaking a“ If you can look in the mirror each night and say, ‘I made a difference,’ if you can do a little every day, then over a lifetime, that’s huge.”

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“Our alumni have great memories of their time at the firm,” says Karen Glover, Americas Director of Recruiting and Mobility. So it’s not surprising that today, more than 20% of the people Ernst & Young hires at the manager level and above are Ernst & Young alumni. These Boomerangs cite many reasons for coming back, notes Glover, including Ernst & Young’s culture of teaming, continuous learning and inclusiveness.

In the following pages, we talk with these four new leaders about their decision to return.

Karen Gilbreath-SowellNational Tax Director of Global Accounts

Nicole HortonExecutive Director, Transaction Advisory Services (TAS)

Suresh MangtaniAmericas Leader for Program Management, IT Advisory Services

Chell SmithAmericas Advisory Markets Leader

Ernst & Young’s Americas Director of Recruiting and Mobility

Round trip to successBoomerangs tell their stories

Karen Glover

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Where were you working before returning to Ernst & Young and why did you come back?Gilbreath-Sowell: I spent six months investigating various job alternatives for the next phase of my career. The Tax Policy office at Treasury is a small group of highly motivated, extremely intelligent and dedicated individuals who are at the top of their game. Among the organizations I was considering, Ernst & Young came closest to that

environment. While certainly not small, Ernst & Young is filled with extraordinary professionals, many of whom I’ve known and worked with over the last 20 years.

Horton: Before I rejoined Ernst & Young, I was a senior vice president at Macquarie Capital. I had always liked Ernst & Young and the working atmosphere. And I was ready for a change. At Ernst & Young I had always teamed with great people, and had many opportunities to stretch and prove myself. I had strong opinions and was able to share them and have them heard. In coming back, I was pleased to have a role in restarting the firm’s restructuring practice.

How did your earlier experience at Ernst & Young help you in your previous job? Mangtani: Through my initial Ernst & Young experience, I came to understand why the firm emphasizes investment in people and the benefits of collaboration. I also gained insights into the importance of workplace integrity and exceeding client expectations. These principles guided my career when I left for Capgemini and continue today: 1) focus on the clients and listen to their issues; 2) be honest in your interaction with the clients and earn their trust; and 3) challenge, reward and look after your people.

Smith: I have always loved the culture of the firm: people-oriented and collaborative at its very core. Just as important, the Ernst & Young culture appreciates diversity in every possible dimension — not just ethnic diversity but diversity of experience, background, opinion and thought. It’s easy to contribute because no one expects you to think like everyone else. This has been an invaluable lesson, particularly as I have assumed global leadership roles. I was

fortunate to be at the firm in the early days of the Women’s Leadership Program, which helped shape my career aspirations.

What notable changes have you seen since returning to Ernst & Young? Mangtani: I was in Management Consulting, where the primary focus was on business performance improvement and information technology. During my eight years away, our service offerings have evolved in response to

There are many more platforms for people at all levels to engage in firm activities and develop leadership skills.

Nicole HortonExecutive Director, Transaction Advisory Services

At Ernst & Young I had always teamed with great people, and had many opportunities to stretch and prove myself.

Suresh MangtaniAmericas Leader for Program Management, IT Advisory Services

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the increasingly regulated business environment. We now have a globally integrated organization with consistent operating models across all regions. Also, I see a tremendous commitment at Ernst & Young around inclusiveness. There are many more platforms for people at all levels to engage in firm activities and develop leadership skills.

Horton: During my first stint at Ernst & Young, I worked in the corporate finance unit, a separate business that was

Know a potential Boomerang?Ernst & Young’s continued growth and investment in services like Performance Improvement, Information Technology Risk, Restructuring, Working Capital, Transaction Integration and Tax present opportunities for our alumni to return — particularly at executive levels. If you know an alum or someone else who would be a great candidate for any one of our practices, or if you want to hear more about our opportunities in these growing practices, please write to [email protected]. ◊

eventually sold. Since returning to the firm as part of the TAS practice, I feel much more connected. I also observe a much higher level of integration within the overall organization, and with that, a greater willingness to take a multidisciplinary approach to client services and issues.

What’s the best career advice you’ve received?Gilbreath-Sowell: Retired partner Mark Yecies was my closest mentor and had a significant impact on my career. He afforded me many opportunities, including helping me obtain my first job at the Treasury. A brilliant lawyer, he was dedicated to the people he led and was selfless. His helpful advice: enjoy what you do, be true to yourself

and your views, and take advantage of opportunities that come your way.

Smith: When I was a first-year senior manager, I asked a partner what I needed to do to advance. He replied, “No one is as interested in the advancement of your career as you are. And no one knows better than you what you love to do. So find out what that is and then do everything you can to make it happen.” That advice was an epiphany for me and it changed my mindset. ◊

Karen Gilbreath-SowellNational Tax Director of Global Accounts

Enjoy what you do, be true to yourself and your views, and take advantage of opportunities that come your way.

I have always loved the culture of the firm: people- oriented and collaborative at its very core.

Chell SmithAmericas Advisory Markets Leader

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Eric Artz, former senior, has joined Urban Outfitters, Inc. as Chief Financial Officer. Artz was previously with VF Corporation, where he has served as Chief Financial Officer of VF Contemporary Brands.

Steve Baker, former manager, has been named Vice President and Treasurer of Spectra Energy Corp. He was most recently Vice President at Union Gas.

Ryan Barkan, former senior, has been elected President of the Young Alumni Council at Malone University (Canton, OH). Barkan is Assistant Controller at Shearer Foods.

Our more than 230,000 Ernst & Young alumni across the Americas are always on the move. In this section, we highlight some of the recent promotions, appointments and other achievements of your friends and colleagues.

Left to right: Alumni partners Rich Elliott, and Dennis Jancsy catch up with alumni partner and Alumni Council member Rich Marrapese, Ernst & Young Partner Al Paulus and Ed Eliopoulos, Ernst & Young Partner and Alumni Champion, at the Northeast Ohio ‘80s start class alumni reunion.

Robert Bateman, former senior manager, was recently appointed as Executive Vice President — Finance and Chief Financial Officer of Emeritus Corporation.

Jennifer Berlin, former senior, has been appointed as an Advisory Member of the Board of Directors of OurPet’s Company.

Stephen Bernstein, former senior, joined the Board of Directors of DJSP Enterprises, Inc. Bernstein currently serves as President of Benchmark Group of Florida. Prior to Benchmark, he was Vice Director of Corporate Development for Auto Nation, Inc.

Mike Best, former staff, has been promoted from Chief Financial Officer to Chief Operating Officer of Boston Pizza Restaurants, LP. Best has been with Boston’s since 2003 when he was hired as the Chief Financial Officer.

Stephen Cairns was named Vice President of Internal Audit and Compliance for PG&E Corporation and its utility unit, Pacific Gas and Electric Company. He will be responsible for internal auditing, compliance and ethics, and Sarbanes-Oxley oversight. Cairns joined PG&E Corporation in 2006 as Senior Director, Internal Auditing.

In the news

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Larry Charney, retired partner, has joined the Board of Directors at Rosie’s Broadway Kids, an arts education organization for children.

Leamon A. Crooms III, former senior manager, has joined The Providence Service Corporation as its Chief Strategy Officer. Crooms has 15 years of experience executing significant strategic assignments for world class organizations.

Rhea Kemble Dignam, former partner, has been named Director of the Securities and Exchange Commission’s Atlanta Regional Office. She will oversee the SEC Atlanta office’s enforcement and examination activities in five states in the Southeast.

James DiStasio, retired partner and former Senior Vice Chairman and Americas Chief Operating Officer, was recently elected to the Board of Directors of EMC Corporation. He will also serve as a member of EMC’s Audit Committee.

Brian R. Ford, former partner, has been named Chief Executive Officer of The Earle Mack School of Law at Drexel University.

Alum Jim Scott is all smiles at the Minneapolis Alumni Reunion and Networking Reception, along with Ernst & Young partners Kim Ries (left) and Michelle Fliehe (right).

James Garanich, former partner, has been appointed Vice President of Tax at FirstEnergy Corp.

Cyril Garcia was recently appointed to the position of Strategy Director of the Capgemini Group, a role which will also mean joining the Group Executive Committee. Garcia was a member of the Executive Committee of Capgemini Consulting France from 2003 to 2010, where his role included serving as Head of Business Development for Capgemini Consulting France.

Stanley D. Garrison, former partner, has joined Huron Consulting Group, a leading provider of business consulting services, as Managing Director in the firm’s Restructuring & Turnaround group.

Stephen X. Graham, former senior, has been named to the Board of Directors of Speedus Corp. Graham is currently Managing Director of Crosshill Financial Group, Inc., which he founded in 1988. He will serve on the Board’s audit committee.

Ed Grier, former senior, has been appointed as the new Dean of the Virginia Commonwealth University School of Business. He previously served as president of Disneyland Resorts.

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Janine Guillot, former senior, was recently named Chief Operating Investment Officer for the pension fund of The California Public Employees’ Retirement System (CalPERS). Guillot comes to CalPERS from Barclays Global Investors, where she was the Managing Director and Chief Operating Officer for legacy BGI’s $450 billion Global Fixed Income business. CalPERS is the nation’s largest public pension fund with assets totaling approximately $200 billion.

Bill Haase, former senior, is the new Vice President, Finance and Administration for Comcast Spotlight, the advertising sales division of Comcast Cable. Previously the company’s Vice President of Finance, Haase’s responsibilities include the administration of human resource practices for Comcast Spotlight’s 3,400 employees as well as managing financial operations and reporting.

Cynthia Havard, former executive director, has been named Chief Operating Officer and Chief Financial Officer of Cole’s Quality Foods.

Melanie Hubler, former manager, has been promoted to Senior Vice President and Controller of S&T Bank of Indiana, Pa. Hubler was previously a Vice President and Assistant Controller at the bank.

Sue James, former partner, was elected to the Board of Directors of Yahoo Inc., where she will head the Board’s audit committee. James is also on the Boards of Applied Materials Inc., Coherent Inc. and the nonprofit Tri-Valley Animal Rescue.

Bob Jirsa, former senior manager, was named Vice President, Government Relations at Plum Creek Timber Company, Inc. Jirsa joined Plum Creek in 1994 as Director of Corporate Affairs. Prior to that, he was with Alaska Airlines, serving as Vice President of Public Affairs, and with ARCO as Director of Government Affairs.

Christopher E. Kubasik, former partner and current President and Chief Operating Officer of Lockheed Martin Corporation, has been asked to serve on the USO Board of Governors.

Left to right: Alum Phil Mallott, current Ernst & Young Partner Dan Mutzig, retired Partner Les Brandon and former Columbus Office Managing Partner Jim Bachmann attend the “Buckeye football fever!” reunion event in Columbus.

Robert H. Linn, former Syracuse Office Managing Partner, has been elected to the Board of Directors of Security Mutual. Linn also currently serves as a member of the Directors’ Advisory Council for the Central New York Division of M&T Bank.

Theresa M. Messina, former partner, has joined Webster Financial Corporation, the holding company for Webster Bank, N.A., as Chief Accounting Officer. In this capacity, she will serve as the company’s principal accounting officer and have responsibility for all accounting and treasury operations.

Tracy Mimno, former senior, has been named General Manager of the Red Hawk Casino near Shingle Springs, California, which is owned by the Shingle Springs Band of Miwok Indians and managed by Lakes Entertainment.

Arthur B. Newman, former partner, was elected to the Board of Directors of CIT Group, Inc. Newman currently serves as Senior Managing Director and Co-Head of the Restructuring and Reorganization Advisory Group at Blackstone Group L.P., a position which he has held since 1991.

I In the news I

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John O’Neill, former partner and Americas Director, Private Equity, has joined the global professional services firm of Alvarez & Marsal as a senior adviser.

Thomas Oram, former senior, has been appointed as Chief Financial Officer of Healthcare Solutions. Oram will oversee Healthcare Solutions’ financial strategies and business processes and will also participate as a member of the company’s executive team.

Jeff Ritenour, former senior, has been promoted to the position of Senior Vice President, Corporate Finance at Energy Corporation. He will also serve as the company’s treasurer. Ritenour joined Energy Corporation in 2001 and served in various capacities including, most recently, Vice President, Acquisitions and Divestitures.

Howard A. Silver, former senior manager, was elected to the Board of Directors of Education Realty Trust, Inc. where he will serve as a member of the Compensation Committee and the Nominating and Corporate Governance Committee of the Board. Silver is currently the lead independent Director of CapLease, Inc. and is a Director of Great Wolf Resorts, Inc.

Former New York Yankee’s center fielder Mickey Rivers with alumni partners Brian Talbot (left), current Ernst & Young Partner Michael LoParrino and alumni partner Terry Feeney (right) at an alumni gathering at the new Yankee Stadium.

Ravi Tripuraneni, PhD, former senior manager, will serve at West Coast University as Program Chair for the Bachelor of Science Degree in Business Administration (BSBA) with an emphasis in Health Care Administration.

Keene Turner, former manager, has joined National Penn Bancshares, Inc. as Chief Accounting Officer. Prior to joining National Penn, Keene was a vice president with Griffin Financial Group, where he focused on financial services companies.

David Wheat, former partner, was recently appointed Executive Vice President and Chief Financial Officer of Hannover Life Reassurance Company of America. Most recently, Wheat served as the Chief Financial Officer of ING Americas, leading finance and risk activities across the United States, Canada and Latin America.

Brady Whitesel, former manager, has been named Chief Executive Officer at IMAVEX. Prior to joining IMAVEX, Whitesel served as Chief Financial Officer at The Schneider Corporation and at Autobase, Inc.

Mike Williams, former manager, has been appointed interim President of Susan G. Komen for the Cure, the world’s largest breast cancer organization. Williams previously served as the organization’s interim Chief Financial Officer.

James G. Wilson recently became Chief Financial Officer and Treasurer of exploration and royalty company Globex Mining Enterprises Inc. Wilson is also the current Chief Financial Officer and Vice President, Finance of First Metals Inc. He will divide his time between Globex and FMA for the near future.

Suzanne Yoon, former senior, has joined Versa Capital Management, Inc. as Director — Midwest US. Versa is a special situation private equity fund.

Share your news…Please send information about your new job, promotion, board appointment or other professional achievements to Rebecca O’Neal at [email protected] or at +1 404 817 4955.

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From personal altruism to corporate responsibility At Ernst & Young, we believe that one of the best ways to build a better business is by building a better world. That’s why, on a global basis, Ernst & Young’s corporate responsibility (CR) efforts focus on three issues that are fundamental to strong communities and thriving economies: education, entrepreneurship and environmental sustainability (the “3Es”). It’s our observation that organizations like Ernst & Young that emphasize skills-based volunteering have been better able to sustain their corporate responsibility commitment in the economic downturn.

How can you make a difference?• Volunteer – Your experience in the

business world can be of great service to those in your community. Consider a pro-bono project, sharing your “soft skills” as a mentor or tutor or assisting a not-for-profit with problem solving and decision making.

• Educate and communicate – Learn about your company’s CR mission and goals, and become an advocate for it.

• Lead by example – Stand out as a leader by stepping up as a not-for-profit board member, participating in work-sponsored efforts, and encouraging young people in your organization to volunteer their time.

• Build your network and your skills – Strengthen relationships and enhance your skills as a manager, communicator and leader through your community engagement efforts.

Deborah Holmes Global Director, Corporate Responsibility

So many of our alumni are leaders in their communities — we’d like to think that the seeds of corporate citizenship were nurtured during your time at Ernst & Young. A desire to give back and a willingness to contribute time and energy to worthy causes is part of who you are as individuals. And it is part of who we are as an organization.

The seeds of corporate citizenship

Their stories will inspire youThe Ernst & Young Global Corporate Responsibility brochure profiles colleagues from around the globe who are engaged in skills-based volunteering efforts in the 3Es. To view the brochure please visit www.ey.com/responsibility.

Did you know:• Through the Ernst & Young

Foundation, we have contributed more than US$100 million to support higher education over the last 80 years.

• In 2008, Ernst & Young announced a three-year, US$1 million commitment of in-kind resources to Kiva.org, the world’s first person-to-person micro-lending website, which is a leader in empowering entrepreneurs.

• Through our education-focused volunteer programs, more than 4,000 Ernst & Young professionals across the Americas have helped more than 16,000 disadvantaged students.

• The Ernst & Young Earthwatch Volunteer program sends staff and seniors to Costa Rica where they use their skills to help coffee farmers adopt sustainable farming practices.

“Thank you for all you do to make a difference.”

To learn more contact Rita Mort Shankel, Americas Community Engagement Leader, at +1 214 969 8714 or [email protected] or visit www.ey.com/us/cr.

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May 2010

ConnectThe magazine for Ernst & Young alumni

2 Field of dreams: Arthur BlankFrom his early days at Ernst & Young to cofounder of The Home Depot to owner of the Atlanta Falcons, Arthur Blank continues to be a giver — in a very big way.

6 The Midas touch: Aaron RegentThe head of the world’s largest gold mining company, Aaron Regent sees an opportunity — and an obligation — to help others at home, and around the globe.

10 Taking the plunge: Kimberly Aiken CockerhamThis former Miss America says her title as Ernst & Young alum means as much to her as her crown.

14 Making a world of difference: Bill KimseyHe’s credited with helping make Ernst & Young into a truly global organization. Now former Global CEO Bill Kimsey is using his talents to help other global companies, as well as hometown charities.

18 The makings of a great alumni relations program: Steve Howe Americas Managing Partner Steve Howe reflects on our alumni’s contribution to making Ernst & Young a Fortune “100 Best Companies to Work For” 12 years in a row.

20 Making connections on the alumni trail: Fanny Chu-FongAs University of Pennsylvania’s Global Alumni Director, Fanny Chu-Fong is helping maximize community engagement efforts from Philadelphia to London to Mumbai.

22 Going for the gold: Mary and David BetsillHe’s a retired partner; she’s Assurance Managing Partner for the firm’s East Central region. Together, David and Mary Betsill talk about how Ernst & Young brought them together — and their special reason for wanting to give back.

24 Off the beaten path: Carol LoweA passion for manufacturing has made Carol Lowe one of the very few female executives in her field – and she just loves it.

26 Leadership, an unequivocal CFO requirement: Charles B. EldridgeFormer partner and current executive recruiter Chuck Eldridge gives his point of view on what CEOs are currently looking for in their CFOs.

29 Visions on giving back: Donald YeeThe president and CEO of OptumHealth Vision has a unique perspective on “paying it forward.”

31 Round trip to success: Boomerangs tell their storiesFour recent Boomerangs talk about what they learned as a result of leaving and then coming back to Ernst & Young.

34 In the newsWe highlight some of the recent achievements of your friends and colleagues.

The Ernst & Young Alumni Network: are you a member?Along with experience, our alumni say that relationships are one of the most valuable things they take with them when they leave the firm. The Ernst & Young Alumni Network can help you keep those relationships alive. By joining the network, you will enjoy numerous “connection” opportunities, including:

• Quarterly electronic alumni newsletter

• Invitations to learning and professional development opportunities, including Ernst & Young’s Thought Center webcasts

• Invitations to alumni events and reunions

• Access to the alumni website (www.alumni.ey.com) where you will find:

— An online member directory with nearly 70,000 registered former colleagues and current Ernst & Young people

— Post-Ernst & Young benefits information

— My Network, an online networking tool that lets you meet and interact with other members

How to join the Ernst & Young Alumni NetworkRegister in three easy steps:

1. Go to www.alumni.ey.com.

2. Click “First time to Network.”

3. Complete the verification information (you will receive an email confirming your registration).

Already registered?Make sure you update your profile with your new contact information so we can remain in touch.

For any questions or comments you may have about Americas Alumni Relations, please email [email protected].

Beyond networking: alumni seek to serveThroughout this issue of Connect, you’ve read about some of the many ways that individual alumni are giving back to their communities. But it is interesting to watch what happens when you get a group of Ernst & Young alumni together: they just naturally tend to want to help others. For example, the Los Angeles and Orange County Alumni Councils are rolling up their sleeves and adopting at-risk schools, taking on inner-city beautification projects, sponsoring bone marrow registry and blood drives, and, well, the list goes on.

Why are they doing this? Pat Niemann, Alumni Relations Partner for the Western US, thinks it’s because so many alumni hold the firm’s values as their own. And he should know: his father, Jack, and wife, Rebecca are both alums. “For them, giving back is a high priority,” he says. Alumnus Jerry Thode, president of the nearby Orange County Council, agrees. He sees the Councils as providing the ideal platform for community engagement. “It’s still about networking,” he says, “but when you rally together around a cause, it goes beyond just building business networks — it builds a deep sense of camaraderie and friendship that brings you even closer together.”

A sincere thank you to all of our alumni — not just for helping to make Ernst & Young a great place, but for helping to make our world a better place as well.

Let’s connect again soon.

Jeff AndersonAmericas Director, Alumni Relations [email protected] +1 404 817 4875

On the cover:The Home Depot cofounder, Atlanta Falcons owner, philanthropist and Ernst & Young alum Arthur Blank talks about the importance of giving back.

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To view past issues of Connect, go to www.ey.com then select “About us” at the top of the screen and then “Our alumni.” From the website you can access an on-line version of current and previous issues. You can also download and print a PDF file. Limited hard-copies of past issues are available by contacting Jennifer Yim at [email protected].

For more information on the Ernst & Young alumni website, please contact Lori Grim at [email protected] or +1 216 583 2503.

Editor-in-Chief: Jeff AndersonManaging Editor: Jay SeitherContributing editors: Rama Ramaswami, James GaynorProject Coordinator: Rebecca O’Neal

Contributing writer: Anne LampertCreative Director: Donald BattingPhotographer: Jonathan GaymanContributing photographers: Ricky Agostin, Robert Thomas, Tim Canfield

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Ernst & Young

Assurance | Tax | Transactions | Advisory

About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com

Ernst & Young LLP, a Delaware limited liability partnership, is a client-serving member firm of Ernst & Young Global Limited located in the US.

Ernst & Young LLP, an Ontario limited liability partnership, is a client-serving member firm of Ernst & Young Global Limited located in Canada.

© 2010 EYGM Limited. All Rights Reserved.

EYG No. KK0751

In line with Ernst & Young’s commitment to minimize its impact on the environment, this document has been printed on paper with a high recycled content.

This publication contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgment. Neither EYGM Limited nor any other member of the global Ernst & Young organization can accept any responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication. On any specific matter, reference should be made to the appropriate advisor.

www.ey.com

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Arthur BlankField of dreamsAaron RegentThe Midas touch

Kimberly Aiken CockerhamTaking the plunge

Bill KimseyMaking a world of difference

Carol LoweOff the beaten path

Connect The magazine for Ernst & Young alumni May 2010