Lucy Iacovelli appointed head of KPMG’s Canadian tax practice

20 September 2019 2 min. read
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KPMG Canada has appointed company veteran Lucy Iacovelli as Canadian managing partner for tax, effective October 1, 2019. Iacovelli has also been named chief administrative officer (CAO) of KPMG Law LLP, the law firm affiliated with KPMG.

Iacovelli has been with KPMG for nearly 30 years, and boasts extensive experience in the areas of tax planning, corporate reorganization, M&A, and tax dispute resolution. She currently serves as head of KPMG’s tax practice in the Greater Toronto Area, and is administrative officer (GTA) for KPMG Law. Iacovelli succeeds Greg Wiebe in the roles of Canadian tax leader and CAO of KPMG Law.

Prior to becoming head of the tax practice in the GTA in 2016, Iacovelli led KPMG Canada’s financial services tax practice, and before that was a financial services tax partner. Over her long tenure at the Big Four firm, Iacovelli has also served as a member of the KPMG Canada board of directors and the KPMG global financial services tax steering committee.

"Lucy is a highly regarded leader in our firm and in the marketplace. Her focus on technical excellence and client care is an inspiration to all our partners," Elio Luongo, CEO of KPMG Canada, said. "I am very excited to have Lucy join our National Management Committee. She brings amazing energy and an unwavering commitment to our people and clients."

Lucy Iacovelli, KPMG

"Lucy is taking over an extremely successful practice managed by Greg, whose leadership has been instrumental in making KPMG a leading Tax practice in Canada, strengthened by the significant growth of KPMG Law in recent years," Luongo added.

Greg Wiebe will remain with KPMG following Iacovelli’s promotion. He will continue to provide services to top Canadian and international tax clients, and will serve as chair of the national digital executive team.

While KPMG has a deep roster of lawyers and legal consultants who provide law-related advisory services in the domain of taxes, the accounting and consulting firm also provides strategic advisory to support and complement clients’ in-house legal teams.

KPMG Law LLP, meanwhile, is an affiliated law firm that provides “legal services” in the strict sense of the term. The firm has offices across Canada, and delivers legal services across tax law, tax litigation and disputes, immigration, and estate and trust needs.

The Big Four firms have been moving into the legal space in earnest, whether in the advisory or legal services capacity, buying up law firms and opening new divisions. KPMG launched a legal consulting arm in the UK earlier this year.