Stephen Yiu succeeds Carlson Tong for a four year term on April 01, 2011.
According to KPMG, Stephen joined KPMG in 1983 and previously served as Audit Partner-in-charge for KPMG China. He was most recently appointed Deputy Chairman of the firm, on October 01, 2010.
Stephen has extensive experience of the securities market in mainland China and Hong Kong, having assisted clients in the initial public offering of shares on the China and Hong Kong stock exchanges.
Stephen says of his appointment: "on behalf of KPMG, I would like to thank Carlson for his leadership over the past four years and for successfully steering the firm through the global financial crisis. This is an exciting time to be taking on the role of Chairman of KPMG China. We will continue to see strong growth in mainland China and Hong Kong SAR, as these economies emerge successfully from the global financial crisis."
"China is now the world's second largest economy and Hong Kong is showing encouraging signs of renewed business confidence. With our clients expanding both domestically and internationally, these markets are a key part of KPMG's global strategy as we assist our clients to achieve their business goals."
Stephen adds: "The capital markets in this region continue to develop with the mainland and Hong Kong stock exchanged attracting local and overseas listings. Global developments, where we are seeing key exchanges considering mergers, will increase competition among financial markets. Local exchanges will need to be mindful of this trend. KPMG's range of expertise, coupled with the quality and professionalism of its people, can help our clients move forward as they confront challenges of growth and increased business complexity."
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