Andrew Coles has been announced as the new head of pensions at KPMG in the UK, succeeding Andrew Cawley who retires from KPMG after 21 years with the firm, although he will continue to work in a consultancy role for a period of time. Coles has 25 years’ experience in the pensions industry, most of which has been with KPMG. His career at KPMG began in Birmingham before becoming a partner in the South Region in 2006. In his new role Coles will oversee KPMG’s UK pensions team advising a wide range of companies and trustees on developing strategies to manage UK pension arrangements.
Karen Briggs, head of Solutions at KPMG said: “We are delighted to have Andrew heading up the team at a time when the industry is going through the biggest change in a century. Andrew brings a broad perspective, having worked in all key areas of our UK pensions advisory business, as well as internationally. The introduction of the new freedoms and choice and the recent consultation on pension tax relief means that we are likely to see continuing change to the UK pensions landscape and demand for the solutions we bring in both the pension and wider reward environment”.
Andrew said “This is an exciting time for both myself, and the 400 strong team here at KPMG who will play an important role in helping employers, trustees and providers find solutions to the inevitable challenges changes to the pensions landscape bring about. The role of technology in our industry has made a step change in recent years and we continue to innovate and invest in this area with the development of KPMG Fusion® and KPMG Pilot®, our flagship tools for helping clients to manage their Defined Benefit and Defined Contribution pension schemes respectively. In the last few years we have seen increased demand for our services. In particular, our teams providing administration, actuarial and investment services to trustees, go from strength to strength and our investment in a market leading administration system is helping us secure a number of new appointments. Our pensions team is in great shape and continues to grow as we develop new solutions to help companies and trustees to work together to manage their pension arrangements and to develop cost effective and competitive reward offerings”.
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The UK pensions practice at KPMG currently advises many of the UK’s largest businesses on pensions, with over £250 billion of aggregate private sector pension liabilities as well as a number of employers in the public sector. By KPMG’s estimates, its latest revenues and its headcount of 400 people mean its UK pensions practice is now one of the largest pensions advisory businesses in the UK. KPMG advises employers and trustees in relation to defined benefit schemes as well as providing defined contribution advisory services. In addition, KPMG provides audit services to a large number of UK pension schemes.
KPMG is also a major provider of advisory and audit services to the life insurance and wealth management sectors. Our team has extensive experience in supporting its clients across a range of disciplines including management consulting, technology, strategy, tax and actuarial.
About KPMG UK LLP
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.