Swiss join KPMG's European merger

KPMG’s Swiss member firm has voted to join the UK and
German KPMG firms in a merger that will create Europe’s largest accounting
firm.

The combined firm will have 18,000 partners and staff based in 57 offices
across the three countries. Revenues will exceed £2.4bn this financial year.

The new entity will be headquartered in Frankfurt and chaired by current UK
chairman John Griffith-Jones and Rolf Nonnenmacher, the chairman of KPMG
Germany’s managing board.

KPMG is eager for other European firms to join the new mega-firm as it
attempts to serve multinational client needs and attract top-calibre workers.

‘There is a tight labour market in professional services, and I believe this
merger will give KPMG a competitive advantage by opening up exciting prospects
for talented and qualified auditors and advisors in Europe,’ said Hubert
Achermann, KPMG Switzerland’s chief executive.

KPMG hopes that by increasing the base of clients thorugh consolidation it
will be able to increase investment and drive growth.

Further reading:

German move blazes trail for the Big Four

Europe beckons for Big Four as KPMG pulls off shock
merger