In a major reshuffle of the top management, International accounting firm Ernst & Young, has appointed John Harley, the current chief of Private Equity for Europe, Middle East, India and Africa to head its private equity division replacing Simon Perry.

“John brings an outstanding depth of knowledge and experience to this role. This will be invaluable as we continue to develop our private equity capabilities,” said Steve Almassy, Global Vice Chair, Office of the Chairman Accounts and Industry on the appointment of Harley in a release.

He further added that “with $1 trillion of committed capital to invest, private equity continues to have a pivotal role in the global financial system. This is despite the current lack of liquidity, which is forcing firms to do fewer deals and to turn their attention toward improving the performance of their portfolios”.

The elevation to the top post is in continuation with the numerous important assignments Harley has been entrusted with, soon after joining the firm in 2000 as the chief of its technology, media and telecommunications corporate finance practice.

In 2003, he was given the responsibility to overlook the running of its TMT European team, a position, which he overlooked till 2005, before being appointed as the global vice-chairman of accounts, industries and business development.

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