But who’s the best Quigley?
Wall Street investment bankers were agog at the news. Could it really be that Jimmy Quigley, debt capital markets legend and icon of Merrill Lynch’s dominance of the primary bond markets in the 1990s, had become an accountant?
News that Jim Quigley was to become the new CEO of Deloitte, the world’s second-largest professional services firm, spread like wildfire across the dealing rooms of New York and beyond.
"Have you seen the news about Jimmy Quigley?" one senior investment bank exec, who used to run a debt syndicate department in the 1990s and knows Quigley well, asked Euromoney’s journalists over lunch.
We had. And fortunately we had spotted that, hard as it is to believe, there are in fact two Jim Quigleys plying their trade in the exalted offices of Wall Street.
"Thank heavens you’re here; I was about to call him and make a complete ass of myself," said the senior banker.
We try to help. Indeed Quigley’s star continues to rise at Merrill: in addition to being vice-chairman of the executive client coverage group, and head of Latin America, James B Quigley recently added chairman of Merrill Lynch International to his portfolio of titles.
Once the rumour mill had died down, people were able to fully appreciate the nature of Deloitte’s press release announcing the other Quigley’s ascension to the Deloitte throne.
"New CEO James H Quigley redefines ‘best’," the announcement trumpeted.