Cresset names KPMG veteran Patrick Canning as Vice Chairman

Cresset announced today the hire of Patrick Canning as Vice Chairman. Canning will be responsible for business development across the organization. Prior to Cresset, Canning served as Managing Partner of KPMG’s Chicago office, the firm’s second largest office, as well as the Midwest market. He was previously Managing Partner of KPMG’s Boston and Providence offices. Canning retired from KPMG in March 2020 after 38 years with the firm. He was responsible for overseeing the delivery of high-quality client service, leading a culture of ethics and integrity, development of marketplace strategy, attracting and retaining key resources, and representing the firm in the marketplace. He previously served as Lead Director for KPMG’s board of directors. “Pat brings tremendous experience in serving clients, from private equity to multi-billion-dollar businesses, and we couldn’t be more excited to welcome him to Cresset,” said Avy Stein, Founder and Co-Chairman of Cresset.

Canning was named in 2016 as one of the 100 Most Connected Chicagoans by Crain’s Chicago Business. He is chairman of the board of directors of the United Way of Metro Chicago, and past chairman of the board for Kids First Chicago. Canning is committed to supporting childhood literacy and led an effort at KPMG to donate and distribute one million books to early readers in the Chicagoland area. “I am thrilled to join Cresset and believe there is a huge opportunity for additional growth. Cresset is values-based, and I look forward to contributing to the firm’s client-centric strategy and delivering a truly holistic wealth management experience. I’m excited about what the future will hold,” Canning said. Canning earned a bachelor’s degree in accounting from Providence College and is a CPA. He lives in Chicago with his wife, Betsy, and has two grown daughters.

* The “100 Most Connected in Chicago Business 2016” was created to recognize widely connected businesspeople in Chicago. Crain’s partnered with Relationship Science to assess 16,000 businesspeople in Chicago. Using RelSci’s algorithms and database of institutions and prominent Chicagoans, information from Crain’s and public sources, the list was narrowed to the 100 most connected. The recognized persons did not submit information to be considered for the recognition.

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Cresset is an independent, award-winning multi-family office and private investment firm with more than $45 billion in assets under management (as of 04/01/2024). Cresset serves the unique needs of entrepreneurs, CEO founders, wealth creators, executives, and partners, as well as high-net-worth and multi-generational families. Our goal is to deliver a new paradigm for wealth management, giving you time to pursue what matters to you most.

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