Ernst & Young has just created a new position to oversee business in the Greater China region, MarketWatch reported. Albert Ng, the firm's East Area markets leader, is said to have taken the position.
One day before the announcement, David Sun Tak-kei, the firm's Hong Kong and China chairman, stepped down. The move was rumored to have been related to a Police raid the previous day at the firm. The police are investigating forgery of a decade-old bankruptcy case of the consumer electronics maker Akai Holdings. An E&Y spokesperson denied the allegation and said the reshuffling was a result of an internal restructuring announced in July.