Mike Rake gets 30% pay rise

Mike Rake, the global chairman of KPMG and the firm’s UK senior partner, took
home £3m last year in remuneration from the UK and global firms.

Rake’s UK salary, detailed in the firm’s annual report, constituted a 30 per
cent increase, rising from £1.8m to £2.4m.

The huge rise capped a bumper year for the firm, which has seen revenues rise
by 20% and profits by 21%.

Rake told Accountancy Age that KPMG was ‘gaining market share’ and
that a strategy of leveraging the firm’s traditionally large audit base into
other areas was paying off.

KPMG even bucked the trend on tax, with growth figures of 15% for the tax
function. Others have seen tax revenues stall in the wake of the anti-avoidance

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