Effective from 1 January 2016, Vugar Aliyev will lead the Financial Services Practice of KPMG in Russia and the CIS.
Effective from 1 January 2016, Vugar Aliyev will lead the Financial Services Practice of KPMG in Russia and the CIS. He will be responsible for the development of the sector in the region and implementation of sector strategies. At the same time, Vugar will continue his work as the Managing Partner of KPMG in Azerbaijan. His new role will be of special importance to the development of Baku as one of the financial centers, as well as strengthening financial and economic and trade cooperation between the CIS countries. Vugar Aliyev started his professional career in 1996 at one of "Big Four" companies. In July 2011, Vugar led the KPMG office in Azerbaijan as a Managing Partner. Today KPMG Baku provides audit, tax and advisory services on financial issues, and the number of permanent staff exceeds 100 people. Since the summer of 2015, Vugar is the member of the Board of Directors of KPMG in CIS.
Over the last 20 years, Vugar gained extensive experience in providing audit and consulting services to banks, insurance, construction and leasing companies in Azerbaijan, Russia, Turkey and Georgia. Since the mid-90s, Vugar took an active part in the transition of Azerbaijani banking sector to the International Financial Reporting Standards (IFRS). During 2000-2001, Vugar participated in the development of corporate governance standards for commercial banks of Azerbaijan. Vugar continues to take an active part in improving the audit legislation and implementation of global best practices in the regulation of audit activities in Azerbaijan. Commenting on the appointment of Vugar, Oleg Goshchansky, Chairman and Managing Partner of KPMG in Russia and the CIS, noted:"Vugar has extensive experience with financial institutions in Russia, other CIS countries and Turkey, and is well aware of the industry specifics. Moreover, we attach great importance to the development of KPMG practice in Azerbaijan and Baku as one of the financial centers in the region.""Managing the Banking practice in Russia and CIS is a great honor, as well as a new professional challenge for me, - commented Mr. Aliyev on his appointment. “Banking sector and other stakeholders in the CIS financial system are facing new serious challenges triggered by turbulent economic conditions. I am confident that our team of professionals and access to the best KPMG international practices will be very useful for the business and government to address these issues effectively."
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