J. Terry Strange
Director
BBVA Compass
Terry Strange is currently the audit committee chair of BearingPoint Inc., BBVA Compass, Group 1 Automotive Inc., and New Jersey Resources Corporation. He is also on the board of directors of Newfield Exploration Inc.
Mr. Strange was the global managing partner of audit business for KPMG, LLP from 1998 to 2002. There he led the development of the global strategy for the worldwide audit business and the harmonization of methodologies and professional standards. Worldwide revenue of KPMG’s audit business is in excess of $5 billion. He served as a lead architect of the redesign of the KPMG audit methodology. He envisioned and led the building of the KPMG Assurance Services Center, a global center for research, development, and field support in auditing methodologies, technology tools, and information management (designed to improve effectiveness and efficiency of the audit process and the development and performance of professionals serving KPMG clients). The Center had a $45 million operating budget and was the catalyst to transform the audit to meet the needs of the information age.
In 1996, he served as vice chair of KPMG and head of the firm’s Internal Risk Management Program. He acted in the role of CEO for U.S. audit business and led it in growing from $1.3 billion in 1997 to $2.1 billion in 2001, a compound growth rate of 12%, becoming the fastest growing firm among the Big 5.
Mr. Strange was named as one of 100 most influential accountants in the United States in 2001 by Accounting Today. He was responsible for internal risk management for all businesses (audit, tax, and until separation consulting). His management responsibility included the firm’s Office of General Counsel and Department of Professional Practice where he oversaw management of KPMG litigation exposure.
He received his Bachelor’s degree in Business Administration from the University of North Texas in 1967 and his Master’s degree in Business Administration in 1968.