In a statement, the company said: “The partners of KPMG are very sad to announce the death of their much-loved managing director Mike Fayle.
“Mike had been receiving treatment at the Christie Hospital in Manchester since early January but his condition deteriorated over the course of last week, and he died on Saturday morning with his family around him.”
Having joined KPMG in 1985 as a partner, Fayle specialised in providing forensic and insolvency services to clients.
The statement continued: “Mike was one of the island’s leading liquidation and restructuring practitioners and passionate about the arts and culture, working with the Manx National Heritage for many years.”
Russell Kelly will step up to the role of managing director of KPMG Isle of Man and Gibraltar.
He said: “It is with a heavy heart that I take on the mantle from Mike. He has been a wise and inspirational leader for us for many years, indeed for most of the time our firm has been on the Isle of Man, and we will all miss him terribly.
“Mike’s wife Viv and son Tom are very much in our thoughts.”
Kevin Lloyd, chairman of the KPMG Islands Group, of which the Isle of Man and Gibraltar are a part, said: “We have lost a great partner, mentor, man and friend.”
