Lisa Cornwell has joined PwC London to strengthen the Firm’s offering around customer and investor tax transparency. Lisa will be joining a team focussing on helping financial institutions manage their tax transparency risks relating to private clients.
Ms Cornwell, who was formerly Head of Tax Assurance at HSBC Private Bank, commented:
“As governments gain access to vastly increased data via both CRS and beneficial ownership registers, it is critical that individuals and organisations can be certain that their affairs are in order to avoid financial or reputational repercussions. Commercially, it is also important to understand what these changes mean for the future and whether changes being made now are future-proof. Current hot topics for organisations include the introduction of a corporate criminal offence for the failure to prevent the facilitation of tax evasion – this legislation has roots in the UK, but the rules have a worldwide impact that may catch organisations with offshore operations by surprise. For individuals, there will be a legislative imperative for accuracy in respect of the past under the new “requirement to correct” proposals but there are also generous proposed planning opportunities for UK RND clients who have historically held their assets offshore. The window to deal with these issues is ever-decreasing. “
Ms Cornwell started her career with Deloitte’s private client tax team in 2003, moving to Kleinwort Benson in 2007. In 2011 she joined HSBC Private Bank where she became responsible for Wealth Planning in the European and African markets. In November 2014 she took on the Head of Tax Assurance role.
Alan Heuston, former Director of Tax at Paddy Power Betfair Plc, has joined McCann FitzGerald as a partner in the firm’s Tax Group.
Alan has extensive experience in advising clients on the tax aspects of mergers and acquisitions, reorganisations, restructurings, migrations, capital markets, financial products, banking, and a wide range of other international and domestic tax matters. He has significant first- hand experience in the regulation and taxation of the betting and gaming sector in Ireland.
As Director of Tax at Paddy Power Betfair Plc, Alan was responsible for managing the group’s tax affairs across multiple jurisdictions and in setting and implementing the group’s overall tax strategy.
Barry Devereux, Managing Partner, McCann FitzGerald, said: “I am delighted to welcome Alan Heuston as a partner in McCann FitzGerald’s Tax Group. His appointment will significantly strengthen the expertise and experience that we offer clients. Alan’s industry experience means that he is uniquely positioned when it comes to understanding client issues and in providing practical advice to client problems. We know Alan will be an excellent addition to our market-leading tax practice.”
Alan is an Irish solicitor, a Fellow of the Institute of Chartered Accountants in Ireland (ICAI) and a Chartered Tax Advisor (CTA) with the Institute of Tax in Ireland.
The Milton Keynes office of national accountancy firm MHA MacIntyre Hudson has appointed a new tax partner in the practice: Gareth Peters.
Mr Peters joined the firm as a trainee 12 years ago and tends to work on the firm’s larger and more complex clients. As both a member of the Chartered Institute of Taxation and the Society of Trust and Estate Practitioners, Gareth covers a wide spectrum of tax issues, both corporate and personal. Concentrating on owner-managed businesses, his expertise covers corporate tax, mergers & demergers, acquisitions & MBOs, exit & remuneration planning, as well as advising individual clients on more bespoke tax planning strategies.
Gareth is also one of the firm’s R&D tax credit specialists and has advised companies across many sectors including Manufacturing, Engineering, I.T. and Medical Research on how to maximise their claims.
The Milton Keynes practice employs 65 partners and staff and advises more than 1,000 local, national and international clients.
Dechert LLP has announced announce that Sabina Comis has joined the firm in its Paris office as a partner. Comis was previously a tax partner and the co-leader of the private investment funds group at Mayer Brown.
“We are very pleased to have Sabina join our team,” said Alain Decombe, ?Deputy Chair for International Operations and Managing Partner of the Paris office. “Her capabilities and experience will strengthen our wide range of services. This lateral hire is an example of our understanding the needs of our clients’ businesses and confirms Dechert’s strategy to provide high-value service for our clients’ most complex matters.”
Comis advises French and international companies on domestic and international tax structuring that arise from complex transactions, restructurings and refinancing’s involving multiple sponsors. She also regularly represents clients in tax dispute resolutions. Comis has a wealth of experience in creating and structuring private investment funds, including joint ventures and both private equity and real estate vehicles.
“The addition of Sabina will further bolster our strong tax practice in Paris. Her impressive track record in advising French and international companies will complement our team well,” said Daniel Dunn, Chair of the International and Domestic Tax Group.
“This arrival is in line with our plan to constantly strengthen our private equity and investment funds tax capabilities,” adds Bruno Leroy, Partner, head of tax in France.
She has been routinely recognized by Chambers Europe, The Legal 500 Paris, Legal500 EMEA and noted as a leading lawyer by IFLR1000 and International TaxReview’s Women in Tax Leaders Guide.“I am delighted to join Bruno Leroy and his team,” Comis stated. “I am sure that many opportunities will arise from collaborating with Dechert partners.”
Zara Ritchie has been appointed as the Head of Global Transfer Pricing Services at BDO.
Marcus Leonard, National Leader, Tax at BDO Australia said “We are fortunate to have someone with Zara’s experience leading our Transfer Pricing Practice. Her appointment as the Head of Global Transfer Pricing Services is well deserved.”
“Transfer Pricing is becoming even more important to our clients as revenue authorities from around the world vie for tax revenue in an increasingly challenging economic environment. We are seeing government’s taking a more hard line approach to base erosion and profit shifting (BEPS) and perceived tax avoidance strategies.”
Ms Ritchie has been instrumental in growing BDO’s Australian transfer pricing practice since joining the Firm in March 2015. In addition, she has been a key member of BDO’s Global Transfer Pricing Leadership team responsible for driving a number of initiatives across the network.
“I’m very excited to be leading BDO’s Australian and Global Transfer Pricing Services at a time when there are so many new developments. Never before have we seen the tax environment our clients are facing today.
BDO is in a unique position as one of the largest international networks with a global footprint in 154 countries and territories. We have an international team of dedicated transfer pricing specialists and are well placed to support our multinational clients as they navigate the complex new environment of transparency and enforcement which is evolving under the OECD’s BEPS initiatives”.
Ms Ritchie’s appointment was announced by John Wonfor, BDO’s Global Head of Tax who commented that there is a real risk for international businesses that the tax environment will become even more turbulent in the years to come.
“There is no doubt that multinational companies will need increasing support and guidance to navigate these waters,” Mr Wonfor said.
Donna McComber, a highly regarded transfer pricing economist with the Internal Revenue Service, has rejoined Baker & McKenzie Consulting LLC as a Director of Economics.
Based in Washington, DC, Ms. McComber spent the last 10 years with the IRS, most recently serving as Assistant Director of the agency’s Advance Pricing and Mutual Agreement Program. Prior to joining the IRS in 2006, Ms. McComber was a Senior Economist with Baker & McKenzie.
At the IRS, Ms. McComber was involved in some of the most difficult cases in APMA’s inventory, including intangibles migration, restructuring, and financial product cases. In addition to making strategic and policy decisions involving procedural and technical issues, Ms. McComber also reviewed numerous Advance Pricing Agreements and Mutual Agreements for a range of treaty partners.
In addition, McComber led competent authority negotiations with China, Denmark, Germany, Japan, Mexico, Switzerland and the United Kingdom, and was a critical contributor to negotiations with other treaty partners, including Australia, Canada, and Korea.
“Donna is well known in the transfer pricing community and brings a wealth of knowledge from the government side in negotiating APAs and resolving MAP issues, two procedures that are highly important to companies engaging in cross-border transactions with related parties,” said Tom Linguanti, Chair of the Firm’s North American Tax Practice. “In addition, Donna’s insights into the perspectives of numerous US treaty partners will immediately benefit our clients. We are very pleased to have her back on the team.”
In her role with the IRS, Ms. McComber developed a focus on discount rates and cost-sharing, playing a critical role in drafting the IRS’s cost-sharing regulations. She also assisted the IRS Chief Counsel in reviewing appeals and audit cases for specific issues, including pre-tax/post-tax issues, discount rate issues and useful life issues.
“Many of our clients seek insights on the complexities of the cost-sharing regulations for the purposes of both planning and compliance, and Donna’s unique experience with the IRS in developing these rules will further strengthen and deepen our transfer pricing, regulatory, and controversy capabilities,” added Mr. Linguanti.
Ms. McComber is the latest in a series of prominent hires for the Tax Practice in North America. Experienced trust and estates attorney David Berek recently joined in Chicago, and tax planning attorneys Jennifer Molnar, Patrick Cox and Dan Cullen recently joined Washington, DC, New York and Chicago, respectively.
René comments: “The presence of German-speaking investors is significant in Romania and I am glad to add my contribution in advising such clients in various fields of KPMG’s services. The German desk’s deep understanding of the regulatory background of foreign businesses will have a significant contribution in providing our clients with integrated advice in a globalized environment.”
Serban Toader, Senior Partner at KPMG in Romania, adds: “I’m pleased to welcome René to the Partnership, who brings added value to our firm through his experience and identifies strongly with KPMG values. The new appointments reflect the hard-work, passion and accomplishments of our people, but also our commitment to further invest in becoming the clear choice for our clients.”
René added: “It’s an honour to rejoin KPMG, the firm I started my career with in Switzerland, and which I have ever since admired for its high professional and ethical standards. I’m optimistic when I look at KPMG’s results which are steadily growing year by year. This shows that the company adapts its services to meet its clients’ requirements as economic circumstances change. I’m looking forward to be part of our vision to be the clear choice in the market!”
Deloitte announced yesterday that its Belgian, Danish, Dutch, Finnish, Icelandic, Norwegian and Swedish member firms will combine with the UK and Swiss firm to create Deloitte North West Europe. The move will see Deloitte invest an additional €200m over the next three years in its capabilities across the region to enhance its service to its global, national and private market clients and to create the best development opportunities for its people. Deloitte North West Europe will come into effect on 1 June 2017 and will have 28,000 partners and people, generating over €5bn in annual revenue.
David Sproul, Deloitte’s UK chief executive and chief executive-elect of Deloitte North West Europe, said: “This is a bold move which reflects our growth ambitions. Europe is already the fastest growing region for Deloitte and we believe that by combining across these markets we will further increase the growth potential of Deloitte regionally and globally, as well as our ability to influence positively the growth of our clients.
“Deloitte North West Europe will combine the breadth and depth of capabilities of eight market leading member firms. The investments we are making will allow us to better serve the needs of our clients who are operating in a more globally connected way than ever before, and continue our relentless focus on quality. It will also allow us to offer career development opportunities for our people, helping us to attract, develop and retain the very best talent across the region.”
Punit Renjen, Deloitte Global CEO, said: “Our strategy is to deliver services to clients as one seamless global organisation. In addition to expanding our capabilities, expertise and insights, our increased scale will enable us to accelerate investments in the types of innovations that transform and advance our clients’ business.”
Deloitte North West Europe will account for approximately 20% of all revenue within Deloitte’s global network.