KPMG China is pleased to announce Stephen Yiu's appointment as Chairman. Stephen succeeds Carlson Tong for a four year term on April 1, 2011.
Stephen joined KPMG in 1983 and previously served as Audit Partner-in-charge for KPMG China. He was most recently appointed Deputy Chairman of the firm, on October 1, 2010.
Stephen has extensive experience of the securities market in mainland China and Hong Kong, having assisted clients in the initial public offering of shares on the China and Hong Kong stock exchanges.
Stephen says of his appointment: "On behalf of KPMG, I would like to thank Carlson for his leadership over the past four years and for successfully steering the firm through the global financial crisis. This is an exciting time to be taking on the role of Chairman for KPMG China. We will continue to see strong growth in mainland China and Hong Kong SAR, as these economies emerge successfully from the global financial crisis."
"China is now the world's second largest economy and Hong Kong is showing encouraging signs of renewed business confidence. With our clients expanding both domestically and internationally, these markets are a key part of KPMG's global strategy as we assist our clients to achieve their business goals."
Stephen adds: "The capital markets in this region continue to develop with the mainland and Hong Kong stock exchanges attracting local and overseas listings. Global developments, where we are seeing key exchanges considering mergers, will increase competition among financial markets. Local exchanges will need to be mindful of this trend. KPMG's range of expertise, coupled with the quality and professionalism of its people, can help our clients move forward as they confront challenges of growth and increased business complexity."
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KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 146 countries and have 140,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss cooperative. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG China has 13 offices (including KPMG Advisory (China) Limited) in Beijing, Shenyang, Qingdao, Shanghai, Nanjing, Chengdu, Hangzhou, Guangzhou, Fuzhou, Shenzhen, Xiamen, Hong Kong and Macau, with more than 9,000 professionals.