KPMG in the UK has today named Bill Michael as its new Chair-Elect.
Bill Michael will succeed Simon Collins, whose term as UK Chairman ends on 30th September 2017.
Bill, an auditor by background, has worked for KPMG for nearly 30 years and is currently the firm’s Global Head of Banking and Capital Markets, leading a network of over 17,000 professionals across audit, tax and advisory and the EMA Financial Services practice. He has extensive experience advising international clients including J.P. Morgan, Barclays and HSBC.
Following the financial collapse of 2008, Bill became a market leading voice on banking culture and behaviours. He was a special adviser to the UK’s Treasury Select Committee into Banking Standards and represents KPMG at many other top table forums including the FICC Market Standards Board. Bill holds a number of important client advisory roles at some of the world’s largest institutions and has been working closely with industry leaders in preparation for Brexit negotiations.
Simon Collins, UK Chairman at KPMG, said: “Bill is an energetic and dynamic leader who will enable KPMG to thrive. He has proven experience of running a large complex team and has the skills and experience to guide the firm as we anticipate and respond to the changing needs of our clients.
“His international experience will also prove invaluable in his new role. Clients tell us they are concerned about the macro economic factors impacting their business, including the shifting political landscape and Brexit. Bill will help KPMG steer our clients through the turbulence of geopolitical and technological change, and support them to take advantage of the opportunities that emerge in the wake.”
Bill was the successful candidate in the election, winning the majority vote of KPMG’s 615 partners.
Bill Michael, UK Chair-Elect at KPMG said: “The market opportunity for KPMG has never been greater and I am excited about leading the firm to help our clients through their biggest challenges. Britain is home to the best talent in the world. As we exit the EU we need to retain our best people and build on the opportunities presented by geopolitical change.
“My priority will be to drive an inclusive culture, which underscores KPMG’s reputation as a magnet for talent. I am determined to pick up the baton from Simon and champion greater diversity both within our own firm and the wider business community.”
Bill succeeds Simon Collins, who has held the role of UK Chairman since 2012. Under Simon’s leadership, KPMG’s UK annual revenues exceeded £2bn for the first time, driven by a sustained programme of investment in new skills and technology. The firm also bolstered its position as the number one auditor of listed companies in the UK, successfully navigating the tender process to secure the audits of John Lewis Partnership, Standard Life, Balfour Beatty and Wood Group in the last year alone. Simon will work closely with Bill to effect a smooth handover before stepping down as UK Chairman in September.
KPMG in the UK reported an increase in revenues from £1,958m to £2,068m (nearly 6 percent) for its last financial year, which ended 30th September 2016. The firm grew across all functions except risk consulting, which saw large bank remediation projects close. Highlights for the year included mid-market tax, transaction services and management consulting which all achieved double digit growth. The firm has 13,500 partners and staff and operates from 22 offices across the UK.
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 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.