Competition for KPMG top job still wide open
There is more than one candidate for Mike Rake’s role as senior partner of KPMG, it emerges
There is more than one candidate for Mike Rake’s role as senior partner of KPMG, it emerges
There is more than one candidate for Mike Rake’s role as senior partner of
KPMG, Accountancy Age understands.
Rake’s replacement will be announced by March of this year, with John
Griffith-Jones, KPMG’s chief executive, long regarded as the front-runner. But
insiders have suggested there are others in line for the role.
The firm released its annual report this week, announcing that chairman Mike
Rake earnt a 30% pay rise to £2.4m for his work. His total pay hit the £3m mark,
when his salary as global chairman was included.
Rake said the firm was ‘gaining market share’ and that a strategy of
leveraging the firm’s traditionally large audit base into other areas was paying
off. It 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
crackdown.
If the rate of growth continued, Rake said KPMG ‘would expect to be the
number two firm in the UK’.
KPMG made revenues of £1.28bn last year, against Deloitte’s revenues of
£1.35bn. Rake predicted growth in the year ahead would come from transaction
services and advisory.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceStatic budgets outdated. Embrace agile budgeting for a smooth year-end close and adapt to changing markets. Read More...
View articleSaffery Champness's strategic rebrand to "Saffery" reflects a bold step towards aligning its historic values with a modern, innovative ethos, fosterin...
View articleSumer’s CEO Warren Mead believes accountants have a responsibility to champion smaller and medium-sized businesses and that successful entrepreneurs a...
View articleMid-market firms experience largest percentage increase in fee income in 2023, as consultancy services start to become leading income streams for the ...
View articleBaker Tilly International has today announced record global revenues of US$5.2bn for the financial year ended 31 December 2023, up 11% on the previous...
View articleWhilst Small and Medium Enterprises (SMEs) account for around half of the turnover in the UK private sector[1], our own AAT research shows that over a...
View articleGrant Thornton UK as confirmed the appointment of Malcolm Gomersall as its new Chief Executive Officer. Gomersall, who has been with the firm for over...
View articlePersonas is an internal AI platform meticulously developed by BDO to boost productivity and streamline day-to-day tasks. Read More...
View article