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NEW YORK –
August 22, 2012 – As
investment managers face an
increasingly complex world with new
regulatory requirements and an
urgency to streamline business
processes and increase transparency,
KPMG, the audit, tax and advisory
firm, announced today that it is
continuing its investment in its
Alternative Investment Funds
practice by bringing on board
several new partners and managing
directors to bolster the firm’s
initiative into the growing sector.
“KPMG is committed to becoming the
market leader in serving the
alternative investments industry and
our latest additions to the team
demonstrate our goal to have the
broadest set of skills and in-depth
knowledge of the most important
regulatory and business issues
facing the industry,” said Al
Fichera, national partner in charge,
Alternative Investments - Audit.
Globalization, as well as evolving
regulations in the U.S., Asia and
Europe, is presenting significant
challenges for alternative
investment funds as they face a slew
of new reporting requirements and
disclosure rules called for under
such regulations as the Foreign
Account Tax Compliance Act (FATCA)
and Form PF.
“I am very pleased that we have been
able to attract world class talent
at the partner and managing director
levels, as well as all the way down
through the ranks,” said Chuck
Walker, national partner in charge,
Alternative Investments - Tax. “We
believe the real key to providing
our clients with quality advice and
support is by offering a superior
service model that’s integrated,
combines technology with top-flight
talent and is consistent across all
of the major markets,” he added.
The new hires and
transferees include:
Ted Carreiro, Partner
Ted joined KPMG LLP in June of 2012
as a federal tax partner within the
Alternative Investment Funds
practice in Boston. He has deep
knowledge and extensive experience
in the AIF industry. As a certified
public accountant, he has more than
eighteen years of investment
management industry experience,
including five years of fund
accounting experience and over
thirteen years of tax experience.
Most recently, Ted has also been
focused on providing support to AIF
clients assisting them in preparing
for and becoming compliant with the
Foreign Account Tax Compliance Act (FATCA).
As a former managing director at
State Street Bank and Trust’s AIF
group, he has served many of the top
hedge fund and private equity fund
clients in the industry.
Laura Thompson, Managing
Director
Laura joined KPMG as a managing
director in the International Tax
Practice. Based in Boston, Laura
focuses on the financial services
industry, with an emphasis on asset
management and fund families in the
Boston and New York areas. Laura
has close to 20 years of experience
advising investment funds and asset
managers on international tax issues
such as tax efficient fund
structuring, the taxation of
cross-border investments, permanent
establishment/trade or
business Planning, and withholding
tax and information reporting
matters. Laura joined KPMG from
Bain Capital, where she was vice
president of the General Partner
group. Prior to Bain, Laura spent
over a decade leading the
international tax function at
Wellington Management Company.
Angela Yu, Partner
Angela Yu joined KPMG as a partner
for KPMG’s U.S. Real Estate Tax
Practice in the New York office.
Prior to her current role, she was
an international tax partner with
KPMG’s Washington National Tax
Practice and Vancouver U.S. Tax
Planning Practice. Angela also
served as a member of the U.S.
Congressional staff of the Joint
Committee on Taxation. She has more
than 28 years experience providing
integrated tax advice to clients in
the real estate industry. Angela
has represented clients in various
negotiations with the U.S. Competent
Authority and the IRS. Her
expertise includes treaty
interpretations, international tax
planning and cross-border
restructurings.
Michael T. Richards, Partner
Michael has more than 22 years of
professional finance and mergers &
acquisition experience and recently
joined KPMG as a partner to lead
KPMG’s Transaction Services Practice
on the West Coast, focused on
private equity clients. Prior to
coming to KPMG, Mike was a partner
in the mergers & acquisitions
practice of another Big 4 firm where
he provided M&A advisory services to
that firm’s largest private equity
clients, served as a professional
practice director, and led the West
Coast consumer business industry
group for M&A. He also worked in
that firm’s national office
technical accounting group and began
his career as an audit
professional. Prior to his partner
role, Michael spent three years as a
principal at Fremont Partners, a San
Francisco-based private equity firm
associated with the Bechtel Group
with over $2 billion under
management.
Phillip W. DeSalvo, Senior
Manager
Phillip, a senior manager for tax,
has experience working with leading
private equity investment firms and
their portfolio companies in
connection with all aspects of
transaction investigation,
structuring, execution, post-closing
integration and other matters. His
transaction execution experience
includes evaluation of tax risk
factors, availability of tax
attributes (e.g., basis step-ups,
NOLs, tax credits), transaction
structuring and exit planning.
Prior to joining KPMG, Phillip was
an M&A tax manager based in San
Francisco at another international
public accounting firm specializing
in private equity transactions.
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
145,000 people, including more than
8,000 partners, in 152 countries.
ENDS
For media enquiries, please contact:
Pete Settles, Media Relations, KPMG
LLP (US): 201-505-6065; 732-546-4212
(Mobile); Email:
PSettles@KPMG.com and Will
Thompson, Hedge Fund PR:
267-221-6056; Email:
Will@HedgeFundPR.net.
To download a PDF of this press
release,
click here.
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