The new chairman will succeed Simon Collins, whose term ends on 30 September this year
Bill Michael has been named the new chair-elect after winning the majority vote of the firm’s 615 partners. Currently KPMG’s global head of banking and capital markets, Michael has 30 years of experience at the firm, including advising international clients, such as J.P. Morgan, Barclays and HSBC. His present role sees him leading a network of 17,000 professionals across audit, tax and advisory, in addition to the EMA Financial Services practice.
KPMG said that Michael had been a “market leading voice” on banking culture and behaviours following the 2008 financial crisis, and was a special adviser to the UK’s Treasury Select Committee into banking standards. Recently, he has collaborated with industry leaders ahead of the Brexit negotiations.
UK chairman at KPMG Simon Collins 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 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.”
KPMG in the UK currently has 13,500 partners and staff, and 22 offices across the country.