Cresset Capital appoints KPMG veteran as vice chairman

Cresset Capital has hired Patrick Canning as vice chairman.

Cresset Capital has hired Patrick Canning as vice chairman. In his new role, Canning will be in charge of business development for the firm. Previously, he was managing partner at KPMG’s Chicago office. In March 2020, Canning retired from KPMG after 38 years with the firm.


Cresset has announced 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 one of the “100 Most Connected in Chicago Business 2016”. 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.