New UK chairman for accountancy firm KPMG

ICAEW chartered accountant Bill Michael has been revealed as the new UK chairman of KPMG, succeeding Simon Collins on 30 September 2017.

Mr Michael is the global head of banking and capital markets at the firm, and has worked for KPMG for the past 30 years. He takes over from Mr Collins after securing the majority in a vote by the firm’s 615 partners.

“Bill is an energetic and dynamic leader who will enable KPMG to thrive,” said Mr Collins. “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.”

KPMG announced a 6 per cent rise in revenues for the last financial year, although profits fell 2 per cent due to new investments. The company is one of the ‘Big Four’ accountancy firms, along with PwC, Deloitte and E&Y.