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Deloitte appoints new energy and resources risk leader
10 June 2015: Deloitte today announced a key addition to its growing risk advisory practice, with the recent arrival of experienced mining executive Michael Barrett as national leader of the firm’s energy and resources risk advisory group.
Michael was most recently Chief Financial Officer of Cloud Peak Energy Inc, one of the largest coal producers in the United States. The company was previously a business unit of Rio Tinto, and Michael was a key leader of its Initial Public Offering and listing on the New York Stock Exchange in 2009.
Prior to his 10 years with Cloud Peak Energy, he held a number of senior mining sector roles in Western Australia, including with Rio Tinto Iron Ore and WMC Resources Ltd.
Deloitte National Leader, Energy and Resources Michael Rath said that, at a time of significant change for Australia’s resources sector, company boards and executives needed to ensure risk intelligence informed strategic thinking, decision making and day-to-day operations.
“Michael is a highly regarded CFO and mining industry executive with deep local and global experience across all aspects of the public company CFO role, including capital markets, balance sheet management, finance transformation, internal audit, investor relations, treasury risk, business improvement and safety management,” Rath said.
“He is exactly the type of individual we are confident can bring authentic and informed risk intelligence to our energy and resources clients. Given his background, his immediate focus will be on integrating our risk advisory capability and experience across the sector and working with mining and mining services clients, who are dealing with a range of risks and challenges brought on by volatile commodity prices and emerging competitive opportunities.”
Deloitte Western Australia Managing Partner, Michael McNulty said: “Understanding and managing risk in the context of deep industry expertise is more important than ever, not only for miners, but also for organisations operating in oil and gas, power and water.
“Michael Barrett has an extensive business-side mining background that ensures he and his team are really able to walk in the shoes of clients, both in Western Australia and across the country, and support them as valued risk advisers.”
Michael Barrett said: “Risk, in terms of both threats and opportunities, has to be a serious consideration for every business. Deloitte has a proven track record as a risk adviser and I have been incredibly impressed with the hands-on and dynamic approach the firm takes with its client offerings. I am looking forward to help deepen industry and business understanding of Deloitte’s expertise.”
As national energy and resources risk leader, Michael will based in Perth and will travel extensively across Australia and Asia.
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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.
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