2 more FS heavyweights join Deloitte UK as Stitt and Tombs bolster Investment Management Group
Deloitte boosts tax expertise for its investment management clients
Deloitte, the business advisory firm, has appointed investment industry tax experts Matt Tombs and Tony Stitt to provide its investment management clients with a more integrated service. Matt Tombs has been appointed as a tax partner and joins the firm from Merrill Lynch where he was responsible for tax in product development. Tony Stitt (pictured) joins as a director from the Investment Management Association (IMA), where he was senior tax adviser. Prior to that he was head of tax at Deutsche.
Calum Thomson, head of investment management at Deloitte, commented: “We are delighted Matt and Tony have decided to join our team. Tax structuring is of paramount importance to product development in the asset management industry. Equally, complying with an evolving regulatory regime poses a significant challenge to the industry. Our specialist expertise will enable us to meet the high demand in this area but more importantly, we can now offer our clients a superior integrated service through this expertise.”
Matt Tombs (pictured), tax partner in the investment management team at Deloitte, added: “There is a real gap in the market in supporting investment managers with product developments and reorganisations. This new team will combine technical tax knowledge with an understanding of the fundamental business issues involved in product development.
Our knowledge of the issues product developers face, in particular the balance between investment flexibility, distribution, tax efficiency and operational constraints, has been gained from extensive in-house experience of product development. Combined with deep knowledge of the attitude of HMRC to practical problems, gained from experience with the IMA, the team’s offering is marked out from our competitors. We are in a unique position to give investment managers business focussed solutions to the tax issues associated with their products.”
These hires follow other high profile recruits that the firm has lured away from industry, including Clissit, Lynch and Todd.
The UK investment management practice at Deloitte helps clients across the industry from large fund managers to smaller boutique firms and hedge fund managers. As industry experts, we deliver a level of technical knowledge that remains unrivalled. Our client teams combine multiple perspectives – from regulatory to tax to IT to restructuring. As a member of the global organisation of member firms, the DTT network has an established investment management team in all key jurisdictions: London, Luxembourg, Ireland, the Cayman Islands, and the key European and US financial centres with the appropriate sector, tax and regulatory skills.