KPMG focus on wealth and insurance

KPMG Australia has created a specialist Insurance and Wealth Management strategy practice within its Global Strategy Group and has appointed former AXA senior executive, Tim Thomas, to head up the initiative.

It said Thomas was joining from Prudential Financial in the US where he was a Regional Vice-President running Strategy and Corporate Development for the company’s Asia-Pacific operations where he had a remit to help mature businesses find new avenues of growth through refreshed advice-based distribution models and partnerships.

Thomas will be joined in the new KPMG Australia practice, by Maurice van den Heuval who has moved from the company’s Netherlands’ insurance strategy practice.

Commenting on the move, Thomas said the Australian insurance and wealth management market was going through an unprecedented period of change, in client expectations, political and regulatory pressure, M&A, and technological advancement.

“Firms in Australia are increasingly looking to global experiences and non-traditional capabilities to build sustainability into their business models,” he said.

“My team will be committed to helping insurance and wealth executives guide the industry through the current political and market uncertainties, and make bold leadership decisions that strengthen performance whilst positioning for longer-term success,” Thomas said.