KPMG Australia has appointed a former regional vice president of a US-based financial services institution to head the firm’s insurance and wealth strategy practice.
Prior to the appointment, Tim Thomas oversaw strategy and corporate development in the Asia-Pacific region as the Asia-Pacific vice president of Prudential Financial, a Fortune 500 insurance company based in New Jersey.
He brings more than 20 years of strategic leadership, corporate development and operational management experience in Asia-Pacific to the new role, according to a statement.
During his time at Prudential, which spanned seven years and two countries, he was in charge of assisting mature businesses discover new areas of growth as well as furthering the company’s presence in Malaysia and Indonesia.
Before that, Mr Thomas was at AXA from 2002 to 2011 in a range of roles, including senior vice president, strategy and business development, and India market entry director, and has also held roles at Medibank Private and the Commonwealth Bank of Australia.
Commenting on his own appointment, Mr Thomas said the Australian insurance and wealth management industry was undergoing a transition in terms of client expectations, regulation and technological advancement.
“Firms in Australia are increasingly looking to global experiences and non-traditional capabilities to build sustainability into their business models,” he said.
“My team will be committed to helping insurance and wealth executives guide the industry through the current political and market uncertainties, and make bold leadership decisions that strengthen performance whilst positioning for longer-term success.
“I am delighted to be joining KPMG at a time when the market is becoming more aware that moving from strategic clarity to sustainable business change requires deep multi-disciplinary expertise and execution stamina.”
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