KPMG wealth team snaps up risk expert Bill Packman

20 August 2018 Consultancy.uk

KPMG UK has appointed a former IBM and Deloitte employee to bolster its wealth team. Bill Packman, who is the former COO of financial services firm Nutmeg, has become a Partner in the Big Four firm’s London office.

KPMG’s wealth and asset management services include a range of offices to superannuation funds, life offices, employers and fund trustees. Amid a new era in wealth management, the industry’s focus is rapidly having to shift to consolidation and innovation to cope with the rise in 'baby boomers' drawing on their funds, as well as offering easier access to capital in foreign markets, and new technology platforms being developed and introduced.

KPMG has subsequently been making a concerted effort to strengthen its growing wealth and asset management division in recent months. With growing demand and changing client expectation, the consulting and auditing giant recently appointed Abhijit Rawal as a Strategy Partner earlier this year, from PwC. Now, KPMG's UK wealth management team has hired former Nutmeg Chief Operating Officer, Bill Packman.

Bill Packman, KPMG UK Partner

Arriving as a Partner, Packman will work closely with KPMG UK’s Head of Wealth Management, Richard Clarke, and Head of Wealth and Asset Management Tim West, helping the firm adapt to digital and regulatory changes. Prior to arriving at KPMG, Packman spent the last four years at financial services advisory Nutmeg, working as the company’s COO and Head of Risk. During that time, he helped to implement the operating model which enabled the scaling of the business from £100 million to over £1.5 billion assets under management, heading the robo-adviser’s operational transformation in the process, including insourcing of the middle and back-office functions.

As well as having spent time with Westpac, Avis Budget Group, and financial giant Barclays, Packman’s CV also boasts extensive experience in the consulting industry. Packman was a Manager at Braxton Associates, before its acquisition by Deloitte, leaving the firm after four years, in 2000. Before that, he held a consulting role with WS Atkins Management Consultants for two years, and was a Pre-University Employee for IBM before attending the University of Cambridge for an MEng Manufacturing Engineering in 1989.

Commenting on the appointment, Richard Clarke said, “Bill’s time at the forefront of the FinTech revolution at Nutmeg, preceded by his time spent at established wealth managers and banks, means he has a comprehensive understanding of the challenges faced right across the investment ecosystem.”

Packman added, “I’ve joined KPMG as I see a huge opportunity for consulting to shape the evolution of the wealth management industry over the next five years. I look forward to integrating my experience and knowledge with KPMG’s well-established consultancy team.”