Don Zambarano was recently named managing partner for the Providence office of KPMG LLP. As a partner in the accounting firm’s deal advisory and strategy practice, he has more than two decades of experience in audit and advisory services with the company. He has a bachelor’s degree in accounting from the University of Rhode Island and a master’s in business administration from Babson College.
PBN: What does your new role with KPMG entail?
Understanding Stroke: Essential Information for Immediate Action
Stroke is a leading cause of death and long-term disability in the United States, impacting…
Learn More
ZAMBARANO: The role is about making KPMG the employer of choice for our people and those looking to join the firm, being a trusted adviser to our clients and having a positive impact on our communities. That means leading our local team, including supporting their personal and professional development, and focusing on quality firm growth as an expression of our firm values: integrity, excellence, courage, together, and for better.
I am also responsible for winning new business and growing existing relationships. I will be working hard to serve our local communities by leveraging our broader firm resources, which I believe can have a strong positive impact.
PBN: What are your top three goals or priorities for your first year in this position?
ZAMBARANO: The top three goals in my first year are to (1) get to know and develop relationships with my local KPMG team in Providence; (2) begin initiating new and developing stronger relationships with our clients, local business leaders and community organizations; and (3) lead a safe and successful return to the office following the pandemic.
Although I have resided in Rhode Island for the past 18 years, my prior roles required me to spend most of my time on the road, and in offices outside Rhode Island. Rhode Island has a strong sense of community and I look forward to tapping into that and making contributions.
PBN: COVID-19 and the various state and federal tax changes have put accounting services in especially high demand this past year. Do you anticipate that volume will continue as the pandemic drops off? How will KPMG work to retain some of its potentially new customers?
ZAMBARANO: We expect the volume of work to continue even as we get to the other side of the pandemic. Beyond COVID-19-related legislation, the new administration has put taxes high on the agenda with major tax legislation proposed.
If President Biden’s tax reform proposals become law, KPMG Tax will certainly have to help clients navigate the changes. In fact, we’re already seeing an uptick in client demand. Clients are eager to understand the potential new legislation and want to be prepared for the future, so we’re working with them to model tax scenarios within the current proposals using our various tax modeling technology tools.
PBN: What permanent changes do you think the pandemic and its effects (working remotely, etc.) will have on the industry? What things will go back to how they were pre-COVID?
ZAMBARANO: As companies are responding to what could be the fastest social change in modern times, tax executives in the U.S. and abroad must grapple with numerous new business complexities, including closing their books remotely, restructuring their operating models, managing talent in a virtual environment, engaging with clients and providing superlative client service via technology communications … all while continuing to advise companies on the tax challenges ahead, including the impact of a remote workforce and tax implications of Biden’s economic recovery proposals.
Although many companies were faced with unprecedented challenges, many also learned to not just operate but thrive in this “new normal.” At KPMG, for example, embracing technology while travel halted allowed us to connect with our colleagues and clients around the country and world, easily and quickly. In fact, we strengthened numerous client relationships with more video chats and more frequent communications during this time. However, even though we’ve been successful in pivoting how we work and communicate, there will always be a premium on face-to-face communications.
PBN: What is the biggest challenge facing the industry within Rhode Island?
ZAMBARANO: Talent. There are several factors causing a major shortage in talent in the accounting and consulting industries, especially in R.I. First, there is a significant increase in the demand for consulting services driven by the disruption in business models, continued digitalization, regulatory and tax changes, and increases in mergers and acquisitions, among others.
Additionally, the professional services, accounting and consulting industries are undergoing major disruption and digitalization, which is creating the need for more and different kinds of talent.
Lastly, we are losing a considerable amount of our university graduates and experienced talent to other states instead of being able to keep them here in Rhode Island where we need them. Part of what I want to do is help change that.
Nancy Lavin is a PBN staff writer. Contact her at Lavin@PBN.com.
