Wednesday, September 18, 2013
KPMG Adds Three to Alt Investment Team
Reported by Katie Lobosco
Another day, another Big Four firm hiring of a mutual fund expert.
This time it's the audit, tax and advisory firm KPMG
, which has added three new executives to its New York-based alternative investments team. According to the firm, the new hires will focus on hedge funds, private equity firms and real estate funds.
has been hired as an audit partner, Jay Freedman
has been hired as a federal tax principal, and Linda Grogan
is returning to KPMG as a tax managing director.
"AI continues to flourish and expand and we plan to continue growing right along with it," stated Chuck Walker, national leader, Alternative Investments--Tax.
KPMG's hires are the latest example of the surge in hiring by Big Four firms to gain expertise in the mutual fund industry. Most recently, MFWire
reported that Deloitte Services
hired J. Lynette DeWitt
as a research manger for mutual funds, hedge funds and private equity.
Here is the press release:
Company Press Release
KPMG's Alternative Investments Group Continues to Beef Up Its Practice With the Addition of Three Seasoned Industry Leaders to Its New York Office
NEW YORK, Sept. 18, 2013 -- KPMG LLP, the U.S. audit, tax and advisory firm, has hired three industry veterans to augment its rapidly growing Alternative Investments (AI) team, focusing on hedge funds, private equity firms and real estate funds. Camille Asaro, Jay Freedman and Linda Grogan have recently joined KPMG's AI team in New York.
Camille Asaro has been hired as an audit partner in the New York Financial Services practice. Asaro has more than 23 years experience in asset management, audit, accounting, strategic planning, hedge funds, and private equity funds.
Prior to joining KPMG, Asaro served as an audit partner at a leading national professional services firm that focuses on serving alternative investment businesses. In her prior role, she specialized in audits of hedge funds, private equity funds, funds of funds, and broker dealers. Asaro also has experience working directly in the securities industry and brings extensive knowledge of the accounting and regulatory aspects of a wide-range of fund structures in the alternative investments sector.
Jay D. Freedman
Jay Freedman has been hired as a federal tax principal in the New York Financial Services practice. With 20 years experience in the financial services tax arena, Freedman will assume responsibility for serving investment management firms and hedge funds, overseeing the delivery of tax consulting and tax compliance services to a number of existing clients, and helping build relationships with new clients and prospects.
Freedman comes to KPMG from a global investment company, where he spent the past five years as its chief tax officer. He also served as president of the Wall Street Tax Association, a nonprofit organization. Prior to that, he served as senior managing director at another investment company.
Linda Grogan is returning to KPMG as a tax managing director in the New York Financial Services practice. She will focus on expanding the firm's private equity service capabilities.
With more than 20 years experience serving clients and holding various leadership roles in private equity organizations, Grogan will be a valuable addition to the AI team. She returns to KPMG from a private equity firm, where as chief financial officer and chief compliance officer, she was responsible for financial statement oversight, tax planning and compliance, as well as benefits and people management.
Earlier in her career, Grogan served as director in KPMG's Department of Professional Practice.
"Camille, Jay and Linda bring strong industry experience and knowledge that enhances the strength and depth of our New York AI team," said Al Fichera, national leader, Alternative Investments--Audit.
"AI continues to flourish and expand and we plan to continue growing right along with it," said Chuck Walker, national leader, Alternative Investments--Tax.
Over the past two years, KPMG has hired several dozen new partners and managing directors as part of its initiative to expand its AI practice nationally and in key cities across the U.S. Just recently, the firm hired Constance Hunter as chief economist, Alternative Investments, to provide clients with a view of the global economy and how that might impact their business plans.
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 152,000
professionals, including more than 8,600 partners, in 156 countries.
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