Deloittes grabs KPMG Chile
Deloitte & Touche has swallowed up KPMG’s Chilean operations to form a combined practice of 600 staff and projected annual revenues of $21m.
It will serve nine of the 24 multinational firms headquartered in Chile, making it one of the top three accounting firms in the country.
Operating as Deloitte & Touche, the practice also lists Chile’s two largest electric utilities among its clients.
Patricio Gonzalez, chairman and chief executive officer of the new practice, said: ‘We now have expertise in nearly every important Chilean industry.’ Ed Kangas, chairman and chief executive officer of Deloitte Touche Tohmatsu, added: ‘This demonstrates that we have been noticed by our competition around the world.’
KPMG Chile will contribute 180 staff and annual revenues of $6m. Its managing partner has joined Deloittes’ Chilean board as vice-chairman.
Deloittes’ Chilean practice had formerly concentrated on manufacturing, retail, construction and insurance, while KPMG’s served finance, natural resources and utilities.
This week, KPMG said it had linked up with a new member firm in Chile, Jeria Y Asociados.