Building on the successful completion of the STEP Advanced Certificate in Advising the Family Business, three professionals from KPMG in Malta’s Advisory function obtained a second certification, the STEP Advanced Certificate in Family Business Governance. Another professional also obtained the first certification, the STEP Advanced Certificate in Advising the Family Business.
One of KPMG in Malta’s Family Business Services Leaders and Head of Advisory David Pace was among those professionals who attained the second qualification. David joins his colleagues in continuing their journey to gain specialized knowledge on the theory and practice behind the family business system and how advisors can support and assist on unique challenges faced by family businesses.
“The continuing focus on learning and development in this space highlights KPMG in Malta’s ongoing commitment to the Family Business sector” commented Mr. Pace. Family business, like any other business type, continue to focus on innovation and maintaining a competitive spirit, while also navigating inter-generational transitions and ownership succession. Having the right structures in place and installing the right approach and behaviours is also seen to be rising in importance over the years, especially with the increased pressure on having good governance practices. Aspects such as management’s and shareholders’ roles and responsibilities, corporate and family governance, and the orderly transition of management, income, control, and equity become more complex as a result of the family dimension.
Given the unique nature of family businesses, KPMG in Malta continues to invest in its people to ensure they have the right knowledge and expertise to support clients. KPMG in Malta’s family business practice work with organisations of all sizes, tackling various dimensions relating to the business, including those of the family.
David has more than 20 years’ experience working on advisory assignments spanning multiple service lines both locally and overseas. He currently heads the firm’s Advisory function, one of the broadest multi-disciplinary teams on the island. Throughout his career, David has supported clients in various industries in successfully raising debt and equity finance, valuing shares and businesses, supporting businesses in drafting and implementing growth strategies, and assisting family businesses in managing the transition of management and ownership from generation to generation. His engagement portfolio has led him to work at the heart of strategy within a number of businesses, helping them throughout the process of considering strategic options, articulation of plans and their subsequent implementation and monitoring. With family businesses, whilst supporting on the various aspects of the succession journey, David focuses primarily on enabling families in business to better govern themselves, leading them to more effective communication and decision-making practices.