Howes to head up KPMG Wealth



Former trade union boss, Paul Howes has been appointed as head of wealth management at KPMG.
Howes, who left his union role as national secretary of the Australian Workers Union in 2014 and was previously head of KPMG’s superannuation practice, was promoted to the new role effective from 1 September.
It will see him overseeing KPMG’s firm-wide services in the wealth space including super, funds management, private equity and retirement products.
He replaces John Teer who will shortly take up a new appointment as Chief Operating Officer for KPMG’s Asia-Pacific region.
Commenting on his appointment, Howes said the Australian wealth management industry was 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,” he said.
Howes also flagged KPMG’s intention to continue recruiting people into the business and foreshadowed the unveiling of a new suite of client services.
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.