KPMG elects banking audit specialist Bill Michael as chair
KPMG in the UK has named the firm’s financial services specialist, Bill Michael, as its new chair-elect and the successor to Simon Collins, whose term ends on 30 September
2 Mar 2017
Michael was the successful candidate in the election, winning the majority vote of KPMG’s 615 partners. An auditor by background, has worked for the firm for nearly 30 years and is currently the 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, Michael was 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. He has been working closely with industry leaders in preparation for Brexit negotiations.
Simon Collins, outgoing 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.’
Michael, UK chair-elect at KPMG said: ‘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.’
Collins has held the role of UK chairman since 2012, and under his leadership, KPMG’s UK annual revenues exceeded £2bn for the first time and has picked up a string of household name audits over the past year including John Lewis Partnership, Standard Life, Balfour Beatty and Wood Group.
KPMG in the UK reported an increase in revenues from £1,958m to £2,068m (nearly 6%) for its last financial year, which ended 30th September 2016. The firm has 13,500 partners and staff and operates from 22 offices across the UK.