Three professionals from KPMG in Malta’s advisory function were awarded the STEP Advanced Certificate in Family Business Governance, the company announced. This follows their successful completion of the STEP Advanced Certificate in Advising the Family Business.

Head of Advisory David Pace, Director Ryan Mizzi, and Assistant Manager Fernando Fenech join 65 other KPMG practitioners around the world who have successfully obtained both certificates.

Partner Hermione Arciola has also completed the STEP Advanced Certificate in Advising the Family Business, thus joining her colleagues in gaining specialised knowledge on the theory and practice behind the family business system and how advisors can support and assist when it comes to unique challenges faced by family businesses.

From left: Partner Hermione Arciola, Head of Advisory David Pace, Director Ryan Mizzi, and Assistant Manager Fernando Fenech

“The continuing focus on learning and development in this space highlights KPMG in Malta’s ongoing commitment to the Family Business sector,” Mr Pace commented.

Family business, like any other business type, continue to focus on innovation and maintaining a competitive spirit, while also navigating intergenerational transitions and ownership succession. Having the right structures in place and installing the right approach and behaviours has risen in importance over the years, especially with the increased pressure on having good governance practices. Due to the family dimension, aspects such as management's and shareholder’s roles and responsibilities, corporate and family governance, and the orderly transition of management, income, control, and equity become more complex.

Given the nature of family businesses, KPMG in Malta has continued to invest in its people to ensure they have the “right knowledge and expertise to support clients”. Its family business practice work with organisations of all sizes, tackling various dimensions relating to the business, including those of the family.

“With the same passion seen in family businesses, KPMG advisors are inspired to help drive and maximise the success of these family businesses; no matter where they are in their journey – whether they’re trying to reach new heights, embrace change, plan for future ownership, or manage the transition of wealth to the next generation, today,” Ms Arciola added.

KPMG in Malta is a Maltese civil partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited. KPMG is a global organisation of independent professional services firms offering audit, tax, and advisory services. It has operations in 145 countries and territories, with close to 236,000 people working in member firms around the world as at the end of financial year 2021.