There will be a seamless transition in senior management at KPMG in the Channel Islands when managing director, Mark Thompson, takes over as chairman and Jason Laity steps into the managing director role on 1 October 2012.
After over 30 years with KPMG, chairman and senior partner, Larry Catterson, is to retire from the Channel Island partnership at the end of September.
Mr Thompson, who has worked for KPMG in London and Hong Kong before returning to Guernsey in 1994, said the transition period will be smooth and it will be “business as usual” when he takes over the top job.
“We have worked hard over the years to provide our clients with a specialised service across audit, tax and advisory services in the Channel Islands and our clients can anticipate no change in the high level of director involvement in their affairs,” Mr Thompson said.
“KPMG’s Channel Island business is locally-owned and, with 20 directors across the islands, our focus on seamless succession planning within the business means our clients can be confident they will always deal with knowledgeable experts who understand their needs.”
Mr Thompson, who held the Institute of Directors Guernsey chairmanship from 2009 to 2011, and Mr Laity, current chairman of the Institute of Directors in Jersey, will have overall responsibility for the strategic direction of the business and implementation of the firm’s business plan.
Mr Laity, who joined KPMG in 1998 and became a partner in 2001, said the current difficult economic conditions meant KPMG was currently responding to different needs from clients.
“Given new business streams to the islands are still depressed we have focused on continuing to help with our clients’ existing structures, dealing with the inevitable regulatory challenges such as FATCA or AIFMD, and ensuring our clients’ businesses are generally fit and ready for the recovery,” he said.
“We are positive about future growth for the islands and KPMG in the Channel Islands over the medium term, and it is critical that that we are able to meet the needs of our clients now and during the recovery. Consequently we continue to make substantial investment across the firm and in particular with our dedicated advisory practice providing services beyond audit and tax.”
Mr Laity said KPMG in the Channel Islands would maintain a focus on engagement in finance sector discussions and would remain committed to supporting the community at large.
“We believe it is even more important to maintain our community initiatives in a challenging economic environment and we will continue to invest and engage in both Guernsey and Jersey with a variety of projects,” he said.