Daniel Barry joins KPMG asset management wing as Partner

After a decade with rival firm Deloitte, Daniel Barry has moved to fellow Big Four consultancy KPMG. The new Partner strengthens the firm’s wealth and asset management regulatory practice, in a move Head of Asset Management Rachel Hanger called a “huge boost.”

“Clients tell us that keeping up with regulation and implementing the latest technology safely, is a top priority – but navigating the obstacles can be a minefield,” Hanger elaborated. “Daniel’s appointment is a really important move for us and a huge boost to the growing team at a time when clients are facing increasingly complex challenges and frequent change.”

KPMG is a global organisation of independent professional services firms providing audit, legal, tax and advisory services. Barry’s arrival coincides with KPMG’s clients facing increasingly complex challenges and frequent change in the financial sector. In the UK wealth and asset management sector in particular, firms are adapting to the new ways of working brought about the pandemic and regulators are adapting to life outside of the European Union.

The UK wealth management market is worth circa £2 trillion in assets under management. One of the core challenges the market currently faces is the impact of the UK’s departure from the EU. Following Brexit, UK firms now must treat Europe as a ‘third country’. This means that greater care and expertise is needed to onboard and distribute European products in a compliant manner.

Leading the firm’s risk and compliance advisory, Barry will draw on two decades of experience. Formerly at Standard Life Savings and Pioneer Investments, he has held a number of operational, investment and regulatory risk roles – most recently seeing him work as a Director with Deloitte.

Barry noted, “This is a time of enormous opportunity for the UK wealth and asset management sector… I’m excited to work with the wider team at KPMG to help firms digest, manage and capitalise on the changes afoot. KPMG has a great team of experts and I can’t wait to work alongside them.”