The chairman of professional services firm KMPG in Bermuda is to retire at year-end after 31 years with the organisation.

Neil Patterson joined the audit practice of the firm in 1989 with a focus in banking and reinsurance. He became a partner in 1997, managing partner in 2009 and chairman in 2012.

Mr Patterson was the firm’s risk management partner for more than 25 years and was the subregional chairman of KPMG from 2013 to 2015.

During his career, a spokeswoman said Mr Patterson provided professional services to many of the firm’s large banking and asset management clients, coaching and mentoring some of its brightest staff along the way.

She added that he has also been heavily involved in the firm’s corporate citizenship programme and is “passionate about KPMG being involved in the community”.

Most recently, Mr Patterson was a co-founder in the launch of Ignite Bermuda, the island’s first privately funded accelerator for start-up businesses.

Mike Morrison, CEO of KPMG in Bermuda, said: “Neil’s leadership over the past decade has resulted in the firm’s market-leading position in many areas of the Bermuda market.

“On behalf of everyone at KPMG in Bermuda, I would like to thank Neil for his contributions and valuable service to our firm, locally and internationally.”

He added: “I wish him great success as he considers his next chapter but not before a well-deserved break of golfing, fishing, and continuing to see the world once there is an opportunity to do so again.

“Neil has been a great mentor and friend to me during my career here and since I took on the role of CEO. I am very grateful for that and will miss his counsel.”

Mr Patterson said: “It has been an honour and privilege to work alongside so many talented people during my career – colleagues and clients alike. I have certainly seen a lot of change over the last 30-plus years – at KPMG and in Bermuda.”

He added: “The market has evolved and matured and looks poised to expand again. I am very proud of the culture we have at KPMG; keeping the needs of our clients, people and our communities at the heart of what we do every day.”

Mr Morrison will assume the joint CEO/chairman role for the firm.