Deloitte Consulting has promoted Elizabeth Krentzman from principal to head of its mutual fund practice, a new position at the firm that oversees its auditing, tax, financial advisory and consulting businesses for the fund industry.

Krentzman reports to head of the asset management services practice and Vice Chairman Cary Stier.

“Mutual funds have always been a cornerstone of the industry for both institutional and retail investors,” Stier said. “But the lessons learned since the economic shakeup in 2008 have taught us that even the stalwart must innovate. Elizabeth’s substantial—and exceptional—mutual fund experience enhances our ability to meet emerging marketplace demands and reinforces Deloitte’s leadership position in the industry. Her business insights will be invaluable to our clients and our team.”

Commenting on her new role during the current economic environment, Krentzman noted: “The mutual fund industry has remained stable despite the turbulence in the financial markets. As a result, mutual fund managers can focus on fine tuning their businesses through increased efficiencies, expanded risk management, streamlined operations and advanced technologies. Deloitte is committed to continuing to help the industry flourish.”

This is Krentzman’s second stint at Deloitte, having been a principal and national director for the firm’s asset management services regulatory consulting practice from 1997 to 2004. From 2004 to 2007, Krentzman was the Investment Company Institute’s general counsel. From 1991 to 1997, she was head of the office of disclosure and investment advisor regulation at the Securities and Exchange Commission’s division of investment management.

Earlier in her career, Krentzman was an associate at Ropes & Gray and Elias, Matz, Tiernan & Herrick.