Richard Heis returns to KPMG UK Restructuring practice

16 December 2020 2 min. read
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The former Head of KPMG UK’s restructuring practice has returned to the firm, having retired from the partnership in 2017. Corporate restructuring expert Richard Heis returns to the Big Four firm after two years with Steinhoff International.

Having joined KPMG in 1983, Richard Heis became a Partner in 1997, specialising in financial sector insolvencies, complex cross border assignments, and all forms of restructuring and insolvency. In 2009, he was appointed special administrator of Dunfermline Building Society in the first use of the UK’s Special Resolution Regime introduced by the UK Banking Act 2009. He also led the Special Administration of MF Global, the first use of the UK’s Special Administration Regime for Investment Banks.

Upon becoming Global Head of Insolvency in 2016, Heis was also named a Non-Executive member of KPMG’s UK Board, before retiring from his role in 2017. He was succeeded by Blair Nimmo.

Richard Heis, Global Head of Insolvency, KPMG

Incumbent Head of Restructuring Nimmo commented on his predecessor’s return, “Richard has an unparalleled track record as one of the world’s leading corporate restructuring experts, so I am delighted to bring him back on board. This is a fascinating time for both our industry and our business, and I know that Richard will significantly add to our firepower in the market.”

Heis spent the last two years with Steinhoff International – the international retail holding company that deals mainly in furniture and household goods, and operates in Europe, Africa, Asia, the United States, Australia and New Zealand. As the troubled group continued efforts to turn around its fortunes, it appointed Heis as Chief Restructuring Officer (CRO). Upon his return to KPMG, he re-joins the Big Four consultancy’s core insolvency team based in London, headed by Jim Tucker.

Speaking on his new challenge, he said, “I am so pleased to return to the fantastic Restructuring team at KPMG at what is a pivotal time for the business. I will be full-time in the market working with old friends, contacts and colleagues. I’m very grateful to all involved with Steinhoff International for my time with them over the past two years, and I look forward to using the many lessons learned going forward. It’s great to be back!”