Two recruits bolster KPMG turnaround practice

KPMG HAS STRENGTHENED its turnaround practice with the hire of Anne Davies and Lee Swinerd.

Davies retired from KPMG‘s restructuring practice at the end of last year and returns to the role of chief restructuring officer. Swinerd was previously based in the firm’s US offices and joins as director.

Richard Fleming, KPMG’s UK head of restructuring, said: “Formal administration appointments have been far more subdued than expected in this downturn, with companies and their creditors seeking solvent solutions to distress.

“Our latest research has shown that turnaround has been increasingly used as a way of curing corporate stress. Indeed our own turnaround practice has doubled revenues in the past three years and its ambition is to double the figure again in the next three years. To this end, these appointments will be an important beefing up of our turnaround team’s capacity.”

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