What's Happening?
KPMG is actively recruiting a Managing Director to join its Business Tax Services practice, specifically within the New York Financial Services tax team. This role is a key position within the firm's rapidly expanding infrastructure tax team. The Managing Director will
be responsible for leading tax consulting and compliance engagements for bulge bracket fund and institutional clients. Key duties include developing client relationships, identifying new engagement opportunities, and providing guidance and mentorship to team members. The position also emphasizes being an agent for change, focusing on process improvement and the integration of new tools and technologies in service delivery. Candidates are expected to have a minimum of ten years of recent tax experience in an accounting firm, organization, or law firm, with expertise in fund structuring, deal onboarding, and fund reporting and compliance services. A Bachelor's degree and a CPA, JD/LLM, or Enrolled Agent license are required.
Why It's Important?
This recruitment highlights KPMG's strategic focus on expanding its financial services tax capabilities, particularly in the infrastructure sector. The emphasis on a Managing Director role underscores the firm's commitment to leadership development and client relationship management within a critical and complex area of taxation. The demand for professionals with expertise in fund structuring and compliance reflects the intricate regulatory landscape and the growing investment in infrastructure. For the U.S. financial industry, this signifies a continued need for specialized tax advisory services to navigate evolving tax laws and investment structures. The role's focus on process improvement and technology integration also indicates a broader trend within professional services to leverage innovation for enhanced efficiency and client value. This expansion could lead to increased competition for top talent in the tax advisory sector and potentially influence service offerings across the industry.
What's Next?
KPMG will continue its rolling recruitment process for this Managing Director position, considering candidates as they apply until the role is filled. The successful candidate will be expected to immediately contribute to the growth of the New York Financial Services tax team, focusing on client acquisition and retention, as well as the development of junior staff. The firm's emphasis on process improvement suggests that the new Managing Director will play a crucial role in implementing and championing technological advancements within the tax practice. This strategic hire is likely to bolster KPMG's market position in financial services tax, potentially leading to an increase in client engagements and further expansion of its infrastructure tax services. The firm's commitment to a comprehensive benefits package and an inclusive environment aims to attract and retain high-caliber professionals in a competitive talent market.
Beyond the Headlines
The recruitment of a Managing Director with a focus on infrastructure tax reflects the increasing complexity and importance of tax considerations in large-scale investment projects. As the U.S. continues to prioritize infrastructure development, the demand for specialized tax expertise will likely grow, impacting how investment funds structure their deals and manage compliance. The role's requirement for a 'can-do attitude' and a passion for the asset management sector, particularly infrastructure and energy investments, points to a cultural shift within professional services towards proactive problem-solving and industry-specific specialization. This move by KPMG could set a precedent for other Big Four firms to further invest in niche tax advisory services, potentially leading to a more specialized and competitive landscape in financial services consulting. The integration of new tools and technologies also highlights the ongoing digital transformation within the accounting and advisory sectors, where firms are increasingly relying on innovation to deliver value.
