Global accounting firm Ernst & Young has expanded its West Coast asset management tax practice with four new hires.

The hires are principal Michael Doolan and partners Mark Gutierrez, Paul Kangail and Eric Wauthy.

The new professionals “bring deep experience working with clients to help them retain and grow assets, enhance investment performance, mitigate business and tax risk and respond to regulatory changes," said Michael Serota, E & Y Global Hedge Fund co-leader and Global Asset Management tax leader, in a statement. He also said that they bring “a broad range of hedge and mutual fund, private equity and venture capital experience, including international structuring acumen."

"Their joining is also evidence of Ernst & Young LLP's growth on the West Coast in the asset management industry,” he stated further.

Doolan was previously a senior managing director with Macquarie Bank in New York, where he led tax and structuring for the asset management business in the Americas. Prior to joining Macquarie, Doolan worked on M&A deals at KPMG LLP and served as the United States rotating partner for KPMG's Australian affiliate. Doolan will work out of E&Y’s San Francisco office.

Gutierrez was a leader of Deloitte Tax LLP's Pacific Southwest Asset Management practice. Prior to joining Deloitte in 2001, he was a member of PricewaterhouseCoopers LLP's Los Angeles and Boston Asset Management practices. Gutierrez is located in the Los Angeles office.

Kangail was formerly a tax partner with Rothstein Kass & Co., where he led its Bay Area Financial Services Tax practice. He is also a former partner at Deloitte LLP. Kangail is at the firm's San Francisco office.

Wauthy was a leader of Deloitte Tax LLP's Pacific Southwest Asset Management practice. He is based in the Los Angeles office.

Ernst & Young maintains a separate business unit solely dedicated to financial services clients. It also has practice groups focused on the fund industry, including its Global Asset Management Center and its Global Banking & Capital Markets Center.

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