EY captive insurance leaders land at Alvarez & Marsal after exit

Mikhail Raybshteyn (pictured right) and Paul H. Phillips (pictured left), former co-leaders of the EY global captive insurance network, have both been appointed managing directors at professional services firm Alvarez & Marsal.

The two independently resigned from EY in November 2025 and were placed on gardening leave.

There are no details as yet on their duties, but on LinkedIn Raybshteyn wrote that he brings technical, industry and market knowledge in an array of domestic and international insurance and tax topics, planning & structuring, tax and insurance risk advisory, and tax account leadership for a broad array of insurance, captive insurance, financial services and non-financial market clients and that he will be bringing next generation, innovative and bespoke solutions and planning to clients, with integrity in execution. He did not state where he will be working from.

Phillips will be based in Dallas, Texas and described himself as a managing director/partner specialising in the strategy and taxation of insurance companies.

Raybshteyn was a judge for this year's FORTY Under 40 publication. 

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.