The company, which was spun off from KPMG in the US last February, reported income of $609m (Pounds 417m) in the last quarter, compared to $679m (Pounds 465m) for the same period last year.
This was well below earlier expectations – in its previous earnings report the company said it expected revenues to hit between $670m and $705m.
Earlier this month KPMG Consulting announced it would be cutting up to 400 jobs as a result of the economic slowdown.
Rand Blazer, chief executive, said: ‘Our performance in this quarter certainly was affected by world events and the economic environment.’
Revenue in its public services and communications business units continued to be strong but had been offset by falling revenue in its financial services and high technology units.
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'