The big four firm announced this morning that ex-union boss Paul Howes has been appointed head of wealth management.
He was previously head of KPMG’s superannuation division.
Mr Howes takes the position of John Teer, who is set to move into the role of chief operating officer for KPMG’s Asia-Pacific operations. Mr Teer has been with KPMG for 22 years.
The wealth management division will now be actively recruiting, and Mr Howes has flagged the significant focus on related services for KPMG, with a new suite of client services in the works.
“I believe we are entering a new era in wealth management. The economic outlook is still positive, the sector is growing, and while regulatory change and compliance remains an ongoing issue, the industry’s focus will shift to consolidation and innovation,” he said.
“Fund managers, superannuation funds, wealth service providers and private equity firms are increasingly turning to KPMG for support in navigating the many challenges that the sector faces,” he said.