Swiss join KPMG's European merger

Swiss firm to join KPMG Germany and KPMG UK in mega European merger

Written by Nicholas Neveling

Accountancy Age, 20 Jun 2007

KPMG's Swiss member firm has voted to join the UK and German KPMG firms in a merger that will create Europe's largest accounting firm.

The combined firm will have 18,000 partners and staff based in 57 offices across the three countries. Revenues will exceed £2.4bn this financial year.

The new entity will be headquartered in Frankfurt and chaired by current UK chairman John Griffith-Jones and Rolf Nonnenmacher, the chairman of KPMG Germany's managing board.

KPMG is eager for other European firms to join the new mega-firm as it attempts to serve multinational client needs and attract top-calibre workers.

'There is a tight labour market in professional services, and I believe this merger will give KPMG a competitive advantage by opening up exciting prospects for talented and qualified auditors and advisors in Europe,' said Hubert Achermann, KPMG Switzerland's chief executive.

KPMG hopes that by increasing the base of clients thorugh consolidation it will be able to increase investment and drive growth.