KPMG in Bermuda has split the roles of chairman and chief executive officer.

Neil Patterson will remain chairman and Mike Morrison, head of advisory, will become the firm’s CEO.

In a statement yesterday, KPMG said it was the first time in the firm’s history when a leader from KPMG’s advisory practice will be appointed CEO.

Mr Patterson said: “It has been my pleasure to lead our firm as its chairman and CEO over the last nine years; however the time has come for fresh leadership.

“Mike will take on the responsibility for the day-to-day management of the firm and I will provide ongoing guidance and support to Mike.

“Mike has led our advisory practice for eight years, over which time he has built a market-leading team of almost 50 professionals that is, by far, the leading practice in Bermuda.

“He will bring fresh energy, a strong collaborative style and a new perspective to the CEO role and I am confident that the firm will go onto to even greater success under his leadership.”

In addition to this change, KPMG also announced that Charles Thresh will become the head of the advisory practice, while Will McCallum will become the head of the tax practice.

“It is an exciting time for the firm and I look forward to the opportunities and challenges that being in the CEO role will provide,” Mr Morrison said.

“I would like to congratulate Charles and Will on their promotions to practice leaders and thank Catherine Sheridan-Moore for her exemplary leadership of our tax practice for the past 15 years and her ongoing support for Will in his new role.”