KPMG Gulf Tax Services bolstered with secondment of Senior International Tax Partner, Philip Marwood

KPMG Europe LLP has seconded a senior international tax partner, Philip Marwood, to a newly created regional role of Head of International Tax Services for Middle East and South Asia (“MESA”), based in the Gulf.

This new position has been created to strengthen further the links between clients and member firms in the MESA region and the appropriate tax specialist teams in KPMG Europe and other KPMG firms in the rest of the world. It responds to the unprecedented growth in inbound and outbound investment between the MESA region and other major economies.

Philip will leave KPMG Europe’s London office around 31 May 2008 and take up his new appointment shortly afterwards.

Sue Bonney, head of tax at KPMG Europe and head of tax for Europe, Middle East and Africa at KPMG International, commented:

“Philip’s taking on this role will significantly enhance KPMG’s ability to serve clients in this hugely exciting and growing part of the world.

“The MESA region, and the Gulf Cooperation Council (GCC) countries in particular, have become a major and growing source of investment funds, deployed both locally and globally and across all business sectors, including energy, finance, property, communications, services and the industrial sector. Traditionally MESA investment has been of a portfolio nature in developed markets, but now increasingly includes major participations and acquisitions across the world, including in emerging markets. And this global diversification of investment results in a real need for specialist international tax advice.”

Philip Marwood said:

“I am tremendously excited about my new role in which I will be working with and through the existing KPMG firms in MESA to build KPMG’s tax offering both to clients based in the region looking to invest into other territories around the world, and clients elsewhere who want to participate in the current vibrant economic growth in MESA. In the process I am planning to strengthen links between the region and KPMG in Europe and other investee regions. I see enormous potential for collaborative working between our KPMG firms in MESA and KPMG Europe and I will be looking to develop this to the full.”