BrazilKPMG names Rasheed Al-Qenae as chairman of MESAC region
KPMG has named Rasheed Al-Qenae, managing partner of its Kuwait organisation, as its new Chairman for the Middle East, South Asia, and Caspian (MESAC) region. He leads over 10,000 people in 21 countries.
The appointment sees KPMG elevate one of its longest standing managing partners in the region to the top role for the MESAC region. Al-Qenae has been with KPMG for 18 years, and has been holding the reins for Kuwait since 2010.
In 2018, he joined the MESAC board, and has since led a number of portfolios, including heading the Tax Steering Group, the deployment of new development centers in the region, and leading a number of strategic investment initiatives.
Al-Qenae takes on the role with an expanded remit as opposed to his predecessor. Last year, KPMG added six members firms within the Caspian cluster (Kazakhstan, Kyrgyzstan, Armenia, Georgia, Azerbaijan and Uzbekistan) into its MESAC division. This lifted the division’s footprint from 15 to the current 21 countries and territories, and lifted its headcount to 10,000 people.
In its latest fiscal year (FY22), aggregate revenue of KPMG in MESAC grew by 18.3% in local currency terms, more than doubling the growth rate achieved in the previous financial year. Global revenues meanwhile jumped by 14% to $35 billion.
“I am deeply honoured to be appointed Chairman of the MESAC region. I want to thank the MESAC Board, which bestowed their confidence and trust in me, and to my fellow KPMG partners and teams for their unprecedented support.”
“My predecessors have helped the MESAC region tremendously in its growth journey and I intend to continue this momentum. Our focus remains on clients’ priorities, recruiting and nurturing talent, investing in relevant technology, strengthening our alliance and corridor ecosystem, and making a meaningful impact on our communities.” he added.
As part of his position, Al-Qenae will represent the MESAC region on the KPMG Global Council and the KPMG Europe, Middle East, and Africa (EMA) region’s Board.
The full list of countries part of the MESAC region: Armenia, Azerbaijan, Bangladesh, Bahrain, Egypt, Georgia, Iraq, Jordan, Kazakhstan, Kyrgyzstan, Kuwait, Lebanon, Oman, Maldives, Palestine, Pakistan, Qatar, Saudi Arabia, Sri Lanka, the United Arab Emirates, and Uzbekistan.
