KPMG names new head of wealth

KPMG names new head of wealth

Former AWU national secretary Paul Howes has climbed up the ranks at KPMG to head up wealth management.

Paul Howes, who previously headed up superannuation at KPMG, will now cover the full range of asset management and investment portfolio.

Mr Howes will now oversee KPMG's firm-wide services in wealth management including super, funds management, private equity and retirement products.

He will replace John Teer, who will shortly take up a new appointment as chief operating officer for KPMG's Asia-Pacific region.

Mr Howes said, "The Australian wealth management industry is continuing to undergo significant transformation and growth, with our national superannuation savings pool now exceeding $2.3 trillion.

"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.

"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.

"We will be continuing to recruit quality individuals to add to our strength across the sector, and will be shortly unveiling a new suite of client services."

Mr Howes takes on his new role today, in addition to his recent appointment as partner in charge of KPMG's new customer, brand and marketing advisory practice.

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