KPMG names new Head of Wealth Management

KPMG Australia has announced the appointment of Paul Howes as head of wealth management, effective 1 September 2017.

Howes, who was previously head of KPMG's superannuation practice, will now be responsible for overseeing KPMG's firm-wide services in the wealth space including super, funds management, private equity and retirement products.

He takes on these new wealth sector responsibilities in addition to his recent appointment as partner in charge of KPMG's new customer, brand & marketing advisory practice.

Commenting, 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."

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