KPMG has been named Consulting Firm of the Year by leading risk management publication, Asia Risk, at their annual Asia Risk Awards.
Now in its twenty-fifth year, the sought-after award recognized the firm for its risk expertise, insights and capabilities in multiple jurisdictions across the Asia Pacific, advising clients even as the uncertainties from the COVID-19 pandemic created a fluid and unpredictable environment.
“The regulatory and market environment has been shifting rapidly across the region. We are more connected globally than ever before, and the management of risk has risen to the top of the agenda for obvious reasons,” commented Sean Chen, Leader for Financial Risk Management for KPMG Asia Pacific. “Our KPMG colleagues have had to demonstrate agility in thinking deep about how we can help our clients manage their own unique scenarios while bringing our expertise, tools, solutions and operational knowledge to bear in managing risk in this new and still evolving reality.”
The consulting award was secured following a detailed credentials submission and a rigorous interview with the Asia Risk judging panel.
Congratulating KPMG on the award, Blake Evans-Prichard, Asia Bureau Chief for Risk.Net, commented: “It was great to see the comprehensive set of risk expertise, market insights and regulatory technology capabilities that KPMG Asia Pacific brings to its clients, even under the new market reality of COVID-19. The case studies in the pitch clearly showed how, over the past 12 months, the consulting firm has guided its clients, many with extensive cross-border exposures, through the unprecedented market volatility, deteriorating credit quality and worst-case stress testing with its solutions while helping them comply with the growing regulations in the region.”
The award submission showcased KPMG's credentials across a range of risk-related domains including market risk and derivatives, credit risk, resolution planning, and regulatory risk.
Simon Gleave, Head of Financial Services for KPMG Asia Pacific added: “The pandemic has accelerated the shift to a digital economy and digital assets, but also created unprecedented credit and liquidity impacts, and volatility to different sectors. We have seen significant and varied responses from regulators in terms of stimulus packages, the impacts of which our clients need to continue to assess. KPMG will continue to advise our clients on the key strategic issues facing banks in the new COVID reality, and help them to manage business performance, business protection, government and regulatory changes, and the acceleration in digital adoption and transformation through these unprecedented times and beyond.”