Philip Marwood, a tax partner at KPMG, is a face one would
easily associate with the UK’s asset finance industry. First
appointed to head up the UK office’s asset finance division more
than a decade ago, and having since grown the team to around 15
staff today, he has become somewhat of an industry
fixture.
Long-time clients, however, will soon see less of Marwood in the
City as he heads east to fill the newly created role of head of
International Tax Services for Middle East and South Asia
(MESA).
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“Particular focus is going to be on the GCC states and Egypt
because those are the ones which we see as most
important.
“My role is basically a reflection of KPMG’s global view that
this is a critical region with very large amounts of outbound
investments and, correspondingly, lots of people from outside
wanting to invest there,” he tells Leasing Life.
With the region awash with liquidity and wealth reaped from the
oil price boom, clearly there has been an augmented demand for
corporate advisory and tax services to support the rising flow of
deals and transactions to and from the burgeoning commercial
hub.
Marwood’s role will expand beyond tax matters, and he expects
there will be no lack of opportunities to work on asset finance
deals, not least because he will be facilitating a cross-section of
KPMG’s services which may invariably involve financing capital
spending.
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By GlobalData
Marwood will also be a key link between the London office
and the Gulf region as KPMG continues to facilitate transactions by
clients from both regions, particularly with cross-border leasing
deals.
Meanwhile, Jonathan Vines will be taking over the helm of asset
finance in KPMG’s London office.Vines has had a long working
relationship with KPMG and Marwood, first as client, when he was
attached to CIT, and when he subsequently became part of the KMPG
leasing team.
“In terms of the KPMG asset finance team, my view is that we
have a very strong practise and I see more continuity rather than a
radical departure from how the group has been run,” he says.
The biggest challenge Vines faces is maintaining the firm’s track
record of innovation to consistently deliver tax efficient
solutions to clients.
