KPMG in the Channel Islands has promoted two of its senior members of staff.
Oli Morris has been promoted to director in the firm’s advisory department, while Dermot Dempsey has been promoted to the role of executive director in the audit department.
Mr Dempsey completed his audit training at Gilbride & Co. in Dublin where he became a qualified member of the Institute of Chartered Accountants In Ireland. He subsequently joined KPMG in the Channel Islands in 2003 and was promoted to director in 2008. Since 2008, Mr Dempsey has acted as audit engagement director specialising in delivering audit and assurance services to local and international clients, predominantly in the investment management and banking industries.
In his new role Mr Dempsey will continue within the audit department as an executive director, leading the audits on a wide range of listed and unlisted investment vehicles and local banks. He has gained valuable insight on the valuation and accounting issues associated with debt and mezzanine funds and more recently on the emergence of fund opportunities in the corporate debt environment.
He has also advised potential new banking entrants to the Guernsey market on licensing and other regulatory matters and benefited from a six month secondment to the GFSC in 2008. He has acted as reporting accountant for clients seeking a listing on a recognised exchange and assisted clients with track record and other assurance reporting.
Mr Morris qualified with the Institute of Chartered Accountants England and Wales (ICAEW) with KPMG Channel Islands in 2006. He recently completed a two year secondment as Technical Director with the British Private Equity and Venture Capital Association, before returning to KPMG Channel Islands’ advisory team this year.
Specialising in investment funds regulation including private equity, real estate, mezzanine and debt funds, Mr Morris has worked on a broad range of KPMG clients throughout his career.
The wealth of experience he has gained within these sectors and his unique secondment experience will form a large part of his role as a director in the firm’s advisory team, which will also include helping to grow the business and the training and development of staff.
Neale Jehan, head of audit in the Channel Islands, who has been heavily involved in AIFM, said that both Oli and Dermot are integral parts of the team and would prosper in their new roles.
‘We are pleased to welcome Oli to the leadership of the firm at a time when the fund industry is adapting to an incredible amount of change, in particular AIFMD. Oli will lead on AIFMD where his experience and insights will be invaluable in helping our clients adapt to these changes.
‘Dermot’s specialism is equally invaluable. He will be instrumental in the continued growth of our audit and assurance offering through new opportunities we are seeing in the corporate debt funds market’, he said.