PKF International appoints new CEO as UK firm awaited
The international network of accountancy firms appoints chairman and CEO amid concerns over its future following the merger of BDO and PKF
PKF INTERNATIONAL has recruited a new CEO, as the profession awaits news of a replacement for its UK arm.
The international network (PKFI) announced that John Sim, formerly international regional director with the network and managing partner of PKF Thailand, will take on the chief executive role.
Sim spent ten years as a regional executive partner for KPMG Asia Pacific with responsibility for Vietnam, Cambodia, Laos, North Korea and KPMG regional consulting. He has also worked in the US.
Speculation has been mounting over the future direction of PKFI following a series of mergers between regional PKF firms with BDO counterparts. The recent merger in the UK of PKF and BDO will see the combined firm work under the BDO International network. It is unclear who will replace the firm in PKF’s international network.
According to the Accountancy Age Top50+50 in 2012, PKF UK had 23 offices and 70 partners.
The marrying of BDO and PKF firms has not been limited to the UK. Last year BDO and PKF merged in Australia, and in November a large part of PKF’s China operation joined local BDO firm Li Xin.
In February this year former PKF International Asia Pacific regional director Stephen Darley took on the role of CEO and chairman of BDO Asia Pacific.
However, PKF’s president of the North American network, Terry Snyder, stated on Twitter last month that new member firms in the UK and Australia were on the horizon.
“Just returned from a PKFI Bd meeting and good news. Stay tuned for new member firms in the UK and Australia plus added new larger firm in Vietnam,” he tweeted.
PKFI has also been busy recruiting senior staff. Sajjad Akhtar has been appointed its chairman to succeed Wolfgang Hofmann (pictured) who stepped down in March.
Akhtar is managing partner of PKF-CAP LLP Singapore and chairman of the PKFI Asia-Pacific board. ICAEW-qualified, Akhtar founded PKF-CAP and before that was a senior partner at Arthur Andersen in Singapore.
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In a statement CEO Sim said: “My first priority is to work with Sajjad to secure new high calibre member firms in key countries around the world.
“Over the last few weeks, I have been extremely encouraged by the positive responses from firms who share PKFI’s vision of a network that offers the combination of genuine independence and a powerful brand. Sajjad and I will work tirelessly to position PKF International for continued success.”
PKF International were unable to comment at the time of publication.