Deloitte, the financial services and consultancy firm, has named Bob Contri as head of its financial services industry group in the US.

Contri takes over from Jim Reichbach, who will now serve as senior leader to several of the company's key clients and as leader of the global banking and securities practice. Prior to this appointment, Contri served as head of the banking and securities division.

"This is a critical role for Deloitte as the financial services industry group is among the largest in our organization, as well as the fastest-growing," Karen Mazer, the vice chairman and managing principal of US industries, said in a statement.

The firm's FSI group is comprised of four key sectors: banking and securities, insurance,  private equity, hedge funds and mutual funds, and real estate, each with its own national sector head.