Managing Director of KPMG Isle of Man, David McGarry, has announced that he will be stepping down at the end of September, as he retires from a long and successful career at the pre-eminent local audit, tax and advisory firm. David joined KPMG in the Isle of Man in 1982 and has held the position of MD since 2003, overseeing a period of substantial success for one of the Island’s most recognised and respected businesses. Under his stewardship, KPMG has not only become one of the Isle of Man’s largest professional services employers, but also set up a sister operation in Gibraltar (in 2008) which is one of the fastest growing member firms in the KPMG network.

The practice prides itself on being market-leading and innovative, and has helped to spearhead the Isle of Man’s expansion into a number of new markets, from developing the island’s finance sector in its early years, to being one of the first to truly embrace the eGaming market. That innovative streak has also been evident in recent years in insurance, shipping, VAT, M&A, and the wider eBusiness environment. David’s involvement in the financial services sector has been consistent throughout his career, from his advisory role on the finance steering committee to KPMG’s sponsorship of and attendance at key on and off-island events to promote IOM PLC - the interests of which are always at the heart of David’s efforts.

On top of these local achievements, David has also been a very active member of the leadership of the KPMG Islands Group (KIG), which unites the KPMG firms in the Channel Islands, Isle of Man, Gibraltar, Malta, Bermuda, and the Caribbean, acting as KIG Chairman from 2005 to 2008 and more recently as Head of Markets for KIG.

David announced his retirement at a recent dinner for the Isle of Man Fund Association, of which he is Chair and has had a long association. He is also well-known in the business community as former Chairman of the Isle of Man Society of Chartered Accountants.

David commented: “It has been my great pleasure to lead KPMG these many years. The talent of the team is extraordinary, and I have thoroughly enjoyed tackling both opportunities and challenges with them. It is no easy thing to leave such a fantastic workplace, but I will take comfort in knowing the firm is in exceptionally good hands.”

Leadership of the firm will pass to Mike Fayle, who has been with KPMG for thirty years and brings a huge wealth of experience to the role. He added: “The firm owes a great deal to David, as his contribution over the years has been enormous. We are all sad to see him go, but wish him a very happy retirement – if I know David, it is unlikely to be a restful one!”

Photo - David McGarry