Rake’s progress continues at KPMG

The appointment was passed unanimously at a meeting of the firm’s international board and council in Tokyo.

The move had been widely expected – in January this year Accountancy Age tipped Rake as the next international chairman.

Rake, 54, will remain as chairman of the both the UK firm and KPMG’s European operations.

He will take over at a difficult time for the firm – its attempts to rescue Andersen and forge a global merger ended in disappointment as Ernst & Young and Deloitte & Touche grabbed the lion’s share of the collapsed firm.

At the time Rake maintained he would not contemplate a merger that exposed his partners to any legal risks caused by the fallout from the Enron affair.

Rake said: ‘KPMG is an organization whose strength is its reputation for integrity and quality, and my immediate aim will be to build further on these values and to continue providing exceptional services to our clients on a global basis.’

He added: ‘We will do everything possible to lead the industry in restoring credibility to our profession.’

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