Accountancy firm KPMG plans to combine its British and Swiss businesses in a bid to boost the company’s growth and profits, the Financial Times reported on Wednesday.
KPMG’s operating partners in both countries were notified last Friday that the companies were in talks about a possible merger, the report said, citing people familiar with the matter.
KPMG UK chief executive Jon Holt told the FT that KPMG UK had started talks with the company’s Swiss arm to explore the possibility of working together closely to deliver benefits for clients and partners.
“Bringing our two companies together will give us more collective power to invest, creating new services for our clients…” said Holt.
Switzerland’s KPMG has 2,600 employees, while the UK employs around 17,000 people, the FT reported.
KPMG did not immediately respond to a request for comment on the report.
Reuters reported in October that KPMG planned to cut about 100 jobs at its UK deal advisory business.
KPMG is one of the big four accounting firms along with Deloitte, EY and PwC.
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