KPMG Appoints Jim Liddy Vice Chair - Audit

NEW YORK, July 15 /PRNewswire/ -- James P. Liddy, 50, has been named vice chair - audit, and Thomas J. Duffy, 50, has been named national managing partner - audit, for KPMG LLP, the U.S. audit, tax and advisory firm, according to an announcement today by John B. Veihmeyer, chairman and CEO of the firm.  

Liddy, who most recently was national managing partner - audit, succeeds Henry R. Keizer, who was previously announced as deputy chairman and COO of KPMG LLP.  Duffy succeeds Liddy as national managing partner - audit.

As vice chair - audit, Liddy will be a member of the firm's management committee and lead a team of about 8,000 audit partners and professionals. Previously, he served as the national line of business leader for Financial Services and as a Securities and Exchange Commission reviewing partner, the firm's designation for its top technical partners.

Liddy has also served as an account executive and as global lead partner for some of the world's largest financial institutions. Liddy joined KPMG in 1981 and was elected to the partnership in 1993. He is a member of the American Institute of Certified Public Accountants and a member of KPMG's global audit steering group.  

"Jim Liddy has a remarkable record of providing deep insights to financial service clients and companies in other sectors about their businesses and growth strategies, and is a proven leader. I'm confident that with his intense focus on audit quality, Jim will build on the strong audit practice that Henry Keizer created over the past five years to help ensure KPMG's continued success," said Veihmeyer.  

Keizer added, "I've had the opportunity to work closely with Jim over the years, and I know he will provide valued and effective leadership for our audit practice.  He brings a tremendous understanding of the issues our clients face and a strong commitment to professional excellence to this important role."

Tom Duffy Named National Managing Partner - Audit

"As the newly named national managing partner – audit, Tom Duffy will team with Jim Liddy to lead our audit practice. Tom has considerable industry experience and a proven track record of delivering audit quality and exceptional service to our clients," Veihmeyer said.

Duffy previously served as partner-in-charge of the metro New York audit practice, managing partner of the New Jersey business unit, and partner-in-charge of KPMG LLP's audit practice in New Jersey.  He is a member of the New Jersey and New York societies of certified public accountants and the American Institute of Certified Public Accountants. A graduate of Saint Peter's College, Duffy also has studied at the Center for Creative Leadership in Colorado Springs, Colo.

"Tom has more than 27 years of technical and industry experience in delivering the highest levels of professionalism to clients," said Keizer. "He is dedicated to delivering high quality work and exceptional service to our clients, and to fostering a work environment that has helped KPMG attract and retain talented partners and professionals."

About KPMG LLP

KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com) is the U.S. member firm of KPMG International Cooperative ("KPMG International").  KPMG International's member firms have 140,000 professionals, including more than 7,900 partners, in 145 countries.

Biographical Information:

James P. Liddy, KPMG LLP Vice Chair – Audit

James P. Liddy, 50, was previously national managing partner for audit and the national line of business leader for KPMG LLP's financial services practice. He has also served as a Securities and Exchange Commission reviewing partner, KPMG's designation for its top technical partners.

Liddy has spent more than 29 years serving KPMG clients and has held various leadership roles throughout his career. Based in New York, he began his career with KPMG in 1981 and was elected to the partnership in 1993.  

He has deep experience in corporate and investment banking, consumer and commercial lending, transaction processing, securitization activities and financial instruments accounting. Liddy is well versed in all aspects of SEC reporting.  Specifically, his experience includes financial statement audits, mergers and acquisitions, divestures, reorganizations, restructuring and other technical and reporting matters. He has served a number of KPMG's largest public audit clients. Liddy also is a member of the U.S. firm's Management Committee and the Global Audit Steering Group. He is a graduate of Iona College.

Thomas J. Duffy, KPMG LLP National Managing Partner – Audit

Thomas J. Duffy, 50, previously was partner-in-charge of the Metro New York Audit Practice, managing partner of the New Jersey Business Unit, and partner-in-charge of KPMG LLP's Audit Practice in New Jersey.  He has significant experience serving global clients in the information, communications and entertainment, technology, and manufacturing industries.

Duffy spent three years as a partner in KPMG's Department of Professional Practice in New York. He joined KPMG in June 2002 as a partner in the Short Hills, N.J., office. He had previously spent 20 years with Arthur Andersen, where he served as partner in charge of Andersen's New York Technology, Media and Communications audit practice.

While at Andersen, he also served as a Securities and Exchange Commission concurring partner. Duffy is a member of the New Jersey and New York societies of certified public accountants and the American Institute of Certified Public Accountants. A graduate of Saint Peter's College, Duffy also has studied at the Center for Creative Leadership in Colorado Springs, Colo.

SOURCE KPMG LLP

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