KPMG LLP, the U.S. audit, tax and advisory firm, has appointed Brian Stephens, a 36-year veteran of the firm, as national leader for Financial Services (FS). He succeeds Scott Marcello, who was recently named vice chairman for the firm's U.S. Audit practice. In addition to assuming the leadership role for the FS practice, Stephens will continue as U.S. national sector leader, Banking and Capital Markets.
In his new role as FS leader, Stephens will be responsible for setting the strategic priorities and growth agenda for KPMG's broad FS practice, which includes Banking and Capital Markets, Building, Construction & Real Estate, Insurance, and Asset Management. He will drive strategy and client services, while broadening KPMG capabilities and relationships with senior executives across all sectors of financial services. He also will help drive the creation of market-recognized thought leadership and industry knowledge for financial services.
KPMG's Financial Services practice has grown significantly over the past few years, expanding into serving Alternative Investments and other fast growing areas.
"KPMG has a long history of serving financial services companies and Brian's appointment demonstrates our continued commitment to this key industry sector, especially as companies seek help keeping up with regulations while also focusing on growth and innovation," said Rob Arning, vice chair, Market Development at KPMG.
"He brings broad experience across all aspects of FS, with deep expertise in banking and capital markets, and an in-depth understanding of client issues to his new role. We're confident that his vision, industry knowledge and leadership will help further strengthen and build this practice," Arning added.
"The Financial Services industry is at a critical juncture as institutions are faced with transforming their businesses for future growth, while dealing with the enormous and costly task of complying with the new regulatory mandates," said Stephens. "I am honored to have the opportunity to lead KPMG's Financial Services practice during such a transformative period for our clients, and I am excited by the strong set of services, resources and professionals we can bring to address our clients' needs."
Over the course of his career with the firm, Stephens has served some of the largest multinational financial institutions, helping them navigate through a very tumultuous period in the industry. He previously served as global Audit sector leader for KPMG's Banking and Finance practice. He is well-recognized globally as a thought leader and is frequently quoted on behalf of the firm in national and industry publications about banking and capital markets industry topics.
Stephens earned a bachelor's degree in Commerce (with honors) from Rhodes University, South Africa.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 162,000 professionals, including more than 9,000 partners, in 155 countries.