KPMG ousts head of financial services unit
August 13, 2019 10:18 am
One of the UK’s biggest consultancies has ousted the head of its financial services consulting division, following a probe into alleged misconduct.
A spokesperson for KPMG confirmed that Tim Howarth had left the company.
“We hold all of our people to a very high standard and take swift and appropriate action against any individual whose behaviour contravenes the firm’s values,” it said.
KPMG said that Mr Howarth has appealed against the decision.
“We can confirm conduct issues have been raised related to a partner and following an internal investigation and disciplinary panel, that partner has left the firm. Under our process the partner has appealed.”
KPMG refused to comment further on what the “conduct issues” involved.
Mr Howarth told the Financial Times – which first reported the story – that he was “surprised” KPMG had announced the outcome of its disciplinary panel.
“[It] is bizarre as the decision is under appeal. I have not been given the reason for that decision. I had already resigned from the KPMG partnership.
“I did not believe that the process was fair or would lead to a just outcome. There is no complainant and there were no formal allegations pursued by anyone,” he said.
Mr Howarth led one of the firm’s most important divisions, which generates large amounts of revenue for the company.
His profile has now been removed from the firm’s website.