Eugene Desmond O'Kelly Is Dead at 53; Former Chief of KPMG in
By ALEX BERENSONSEPT. 13, 2005
Eugene Desmond O'Kelly, the former chairman and chief executive of
KPMG's United States unit, died Saturday night in his apartment in
Manhattan. He was 53.
The cause was cancer, according to a statement released by KPMG, the
fourth-largest accounting firm in the United States, with 20,000
Mr. O'Kelly served as head of the KPMG unit from April 2002 until
June 2005, when he stepped down for medical treatment.
During Mr. O'Kelly's time as chairman, the firm endured
investigations by the Internal Revenue Service and federal
prosecutors into tax shelters it had sold to wealthy clients from
1996 until 2002.
Continue reading the main story
In late 2003, Mr. O'Kelly began telling the firm's directors that
the firm needed to take "a new direction," according to an article
in The New York Times in August.
KPMG first acknowledged "unlawful conduct" in the creation and sale
of the tax shelters about 10 days after Mr. Kelly stepped aside as
Last month, the firm settled the federal criminal investigation and
agreed to pay $456 million.
Timothy P. Flynn, the new chairman of the firm, said Mr. O'Kelly put
KPMG on the path to recovery. "He made some fundamental changes in
how we run our business," he said.
Mr. Flynn said that Mr. O'Kelly lived for only about three months
after his cancer was diagnosed.
KPMG has commissioned a book tentatively called "Chasing Daylight"
to capture Mr. O'Kelly's thoughts on living and dying, Mr. Flynn
A graduate of Pennsylvania State University with an M.B.A. from
Stanford University, Mr. O'Kelly joined KPMG in San Francisco in
He became a partner in 1982 and was appointed to the management
committee in 1998.
He is survived by his wife, Corinne; two daughters, Eugenia O'Kelly
and Marianne Pearson; two grandchildren, Charlotte Pearson and
Oliver Pearson; his mother, Marian O'Kelly; two sisters, Linda
O'Kelly, of Monmouth, N.J., and Rose Sherman, of Palm Beach Gardens,
Fla.; and a brother, William O'Kelly, of Napa, Calif.
eugene desmond o'kelly former kpmg chairman &
Published on Mar 23, 2007
Society News Title
New young professionals committee debuts at this year's Financial
Services Cares Gala
The 11th Annual Financial Services Cares Gala took place June 9 at
the New York Hilton Midtown. More than 600 guests attended the gala,
which raised more than $2.1 million!
Our CEO Gary Reedy spoke during the program and had a chance to meet
the newly formed Associate Committee, comprised of 12 young
professionals working at Bank of America, Blackstone, Citigroup,
Clarion Partners, Credit Suisse, Goldman Sachs, KPMG, Morgan
Stanley, PricewaterhouseCooper, and Trumid Financial. Its silent
auction efforts raised nearly $40,000.
This event was founded to honor Eugene Desmond O'Kelly, the former
chairman and chief executive of KPMG's United States unit, who died
of brain cancer in 2005. He was 53. O'Kelly was committed to
promoting philanthropy and volunteerism in the workplace, and
instituted company policy to positively impact employee wellness.
His wife, Corinne, continues his efforts by serving as the Gala
This gala brings together powerhouse financial institutions for a
night of networking, exciting live auctions, and Wall Street's Got
Talent, featuring performances by talented associates from
Since 2011, the Society has donated a portion of the proceeds to
support Hope & Heroes, a childhood cancer fund at Columbia
University Medical Center in New York City, to assist with its
cutting-edge programs and research. To date, the Financial Services
Cares Gala has raised more than $14 million, with more than $9
million of that benefiting the Society.
This year the Eugene D. O'Kelly Award was presented to two
distinguished doctors: Charles S. Fuchs, MD, MPH, and Adam Bass, MD,
both of the Dana-Farber Cancer Institute at the Harvard Cancer
Center. Fuchs's current research focuses on gastrointestinal cancer
epidemiology, while Bass's expertise enhances modern genomics,
experimental/functional biology, and clinical medicine. In addition,
the Financial Services Cares Gala Distinguished Service Award in
honor of Charles S. Hallac was presented to John Hancock Financial.
Hallac, who conceived BlackRock Inc.'s investment management
platform and founded its advisory business, died of colon cancer in
2015. He was 50.
This year's gala chairs were Robert F. Arning, vice chair, Market
Development, KPMG, LLP; Robert S. Kapito, president, BlackRock;
Richie Prager, managing director, BlackRock; and John Thiel, head of
Merrill Lynch Wealth Management.
Society News Internal Picture
Content Type: CT_ACSNews_Society
Created at 6/21/2016 9:48 AM by Amanda McQuery
Last modified at 6/21/2016 9:48 AM by Amanda McQuery