Ex-KPMG consultancy partners flock back
KPMG has been recruiting former partners who left when its consultancy services in the UK and Holland were sold. But the firm denies that it will offer consultancy services.
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A source close to both organisations revealed that several Atos consultants, formerly of KPMG Consulting, had switched back to the accountancy firm.
They are expected to carry out similar roles for their new employer, but under different job titles.
A KPMG spokesman admitted the firm had taken on ‘a number’ of former Atos partners over the last 12 months in its risk advisory services practice.
‘(Risk advisory services) is an area that is benefiting from a heightened control environment surrounding Sarbanes-Oxley and equivalent UK measures,’ the spokesman said.
He added that the new partners were not involved in ‘big-ticket’ IT consulting work for the firm.
KPMG sold its UK and Dutch consulting practices to IT consultancy Atos Origin two years ago in a deal worth £424m in cash and bonds.
Mike Rake, chairman of KPMG International, said at the time: ‘The agreements mean that KPMG now has a clear focus on its accounting and advisory work – with the goal of growing our network for our clients on a global basis.’
Deloitte’s UK senior partner, John Connolly, claimed last week it was ‘just a matter of time’ before other Big Four firms were more transparent about the consulting services they offer.