KPMG Corporate Finance LLC named Mark Belford and Robert Glowniak Jr. as coheads of the firm’s U.S. Consumer & Retail Investment Banking Group. Both executives are new to the company, and the positions are newly created.
The firm also said it was expanding via dedicated coverage of the leisure and wellness subsector.
Phil Isom, head of KPMG Corporate Finance, said in a statement today that the appointments reflect changes in the market, particularly in mergers and acquisitions. Isom said the “strategic needs of consumer and retail companies are changing, and meaningful growth through targeted M&A is more integral than ever to driving long-term success and enhancing shareholder value in the consumer markets sector.”
Prior to KPMG, Belford served as managing director at Janney Montgomery Scott LLC. At that firm, Belford was group cohead for consumer and retail investment banking for the past six years. Prior to that, Belford was executive director for middle market consumer and retail investment banking at J.P. Morgan & Co. He also worked at Lehman Brothers. Glowniak previously served as principal at J.H. Chapman Group LLC where he led the food and consumer products industry team. He was also at J.P. Morgan, and prior to that worked at Bear Stearns & Co. Inc. as well as Citigroup.
Regarding coverage of the leisure and wellness segment, KPMG said managing director Rick Chance will lead the efforts. Aside from spa and fitness markets, the coverage includes wearable technology as well as cosmetics and beauty products.