The second network of the Big Four will be created, with more than 18,000 employees and a turnover of 4,000 million.
Partners of KPMG in the UK and Switzerland have voted “overwhelmingly” in favor of a merger of the companies in the two countries, which would mean a business with revenues of 4,400 million dollars (4,000 million euros) in audit, tax and legal, and consulting segments.
Based on Big Fourconcentration will emerge
Partners of KPMG in the UK and Switzerland have voted “overwhelmingly” in favor of a merger of the companies in the two countries, which would mean a business with revenues of 4,400 million dollars (4,000 million euros) in audit, tax and legal, and consulting segments.
Based on Big Four, the concentration will give rise to KPMG’s second largest network, adding 16,000 employees in the UK and 2,600 in Switzerland. The changes will occur on October 1.
A new company (LLP) will be formed which will merge the two companies, with the CEO of the UK subsidiary, Jon Holtwill be CEO, and CEO of Switzerland, Stefan Pfister, will become deputy CEO. However, the two companies will remain separate, and will be governed by the laws and oversight of their respective countries.
“This is a historic moment for both of us. We will be stronger as a combined company and have the scale to generate great benefits for our clients, employees and partners, which means we will be able to grow fasterbecome more profitable and invest together in creating new services sustainably,” said Holt.
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