Rocket Man zooms to KPMG from PW
Price Waterhouse has played its last tune with Sir Elton John after the superstar singer dumped the firm last week from his line-up of advisers.
PW was relieved of its duties as Sir Elton’s accountant following the split with his long-time manager John Reid. KPMG was chosen to replace PW and will take its place in the singer’s entourage with immediate effect.
Sir Elton is spending this week at the Cannes film festival plugging his production company, Rocket Pictures, before starting the European leg of his ‘Face To Face’ tour with Billy Joel.
In his absence, a spokesman attempted to scotch rumours that Reid and Sir Elton had split acrimoniously after it was revealed the singer was spending his fortune faster than royalty payments were coming in. ‘It has been clear to Elton that a different style of management arrangement would be appropriate,’ he said.
‘Contrary to press speculation, there are no issues between them.’ A PW insider said the firm was disappointed to lose the account, but the split was amicable.