Patrick Palicica’s Post

KPMG has announced the merger of its UK and Swiss firms, creating a business with revenues of $4.4bn that hopes to tap into bigger markets and boost profits. KPMG Switzerland and KPMG UK will remain separate firms governed by the respective national laws and supervision. The separate Management Committees for each firm will continue to operate, being responsible for the day-to-day operation of the business and implementing the group strategy. The Big Four accounting and consulting group said that partners in both countries voted “overwhelmingly” in favour of merging, after talks were first reported by the Financial Times in December. The tie-up, which will come into effect in October, is the biggest strategic change at KPMG since UK chief executive Jon Holt took over in 2021. “This marks a historic moment for both firms. We will be stronger as one combined firm and together we will have the scale to significantly enhance our ability to deliver great outcomes for our clients both internationally and within our domestic markets. Merging brings huge benefits for our clients, our people, and our partnership and means we can now grow faster, be more profitable and invest together to create new services in a sustainable way," Jon Holt, KPMG UK CEO. #MergersAcquisitionsDivestitures #Accounting #Audit #BusinessServices

❗ KPMG UK and KPMG Switzerland merge under a new LLP In a significant move by one of the Big 4, KPMG has announced the merger of its UK and Switzerland businesses, forming a new £3.4 billion group. The merger will see KPMG establish a new limited liability partnership (LLP) bringing together the two firm’s equity partners. The new LLP will own the existing UK and Swiss firms. Key Details: Jonathan Holt, KPMG UK’s CEO and Senior Partner, will take on the role of Group CEO. Stefan Pfister, CEO of KPMG Switzerland, will become Group Deputy CEO. The merger promises to: ✅ Enhance the delivery of outstanding outcomes for clients internationally and domestically. ✅ Enable faster growth, improved profitability, and joint investments. ✅ Maintain agility while leveraging KPMG’s multidisciplinary model and sector expertise. This move by KPMG is not isolated in the Professional Services market, with other Big 4 and Advisory firms making large scale changes to adapt to current market conditions, as well as the evolving consulting industry. Additional Examples include: 🔹 Private Equity firms seeking interest/acquiring majority stakes in consulting firms such as Grant Thornton, EY Italy, and Baker Tilly. 🔹 Successful build-outs of challenger advisory firms such as Interpath Advisory, Alvarez & Marsal, and FTI Consulting. 🔹 Deloitte launching its biggest reorganisation in a decade to cut costs. The market this year is definitely keeping headhunters like me on their toes. I am intrigued to see how the market further develops over the coming months... #KPMG #BusinessMerger #ProfessionalServices #Consulting

The history of the Big Four auditing firms dates back to the late 19th and early 20th centuries. These firms initially emerged as smaller partnerships and evolved through mergers, expansions, and global growth. These firms built their foundations by offering accounting, auditing, and assurance services to businesses. Over the years, they expanded their service lines to include consulting, tax advisory, and a wide range of professional services, becoming global leaders in their field. Their growth has been driven by mergers, acquisitions, global expansions, and adapting to changing market demands. Today, the Big Four are integral parts of the professional services landscape, serving clients worldwide across various industries. EY EY Tanzania KPMG East Africa KPMG US Deloitte PwC PwC Tanzania #big4 #big4jobs #history #mergersandacquisitions #growth #cfoservices #cfo #businessaccounting #finance #financeandaccounting

📣ANNOUNCEMENT📣 EY summarized key insights from 2024 Q2 for IT and tech-enabled M&A businesses. Learn more here: https://ow.ly/u86F30sGf6R 📧 Subscribe to EY M&A latest updates here: https://ow.ly/mKyU30sGe4R #EYCanada #MergersAndAcquisitions

📣 We've done it again! For the 11th straight year, EY has been named the top deal advisor in Oceania by Mergermarket. A huge shoutout to our teams for their dedication and to our clients for their trust. Here's to another year of leading the way in M&A! 🎉 #EY #No1Advisor #OceaniaDeals #MergersAndAcquisitions #ThankYou #BetterWorkingWorld #DealAdvisory

❗KPMG merger forms 5,000-strong business in the Middle East KPMG's two largest member firms in the Middle East, Saudi Levant and KPMG Lower Gulf, have voted to integrate their businesses, creating a regional powerhouse with over 5,000 employees operating across six countries: Saudi Arabia, Jordan, Lebanon, Iraq, the United Arab Emirates, and Oman. This strategic integration will establish a new limited liability partnership, pending regulatory approvals. Abdullah Al Fozan has been appointed as Senior Partner and CEO, with Emilio Pera as Deputy Senior Partner and Deputy CEO, to lead this new entity. Key Benefits of Integration: 🔹 Enhanced Client Value: Al Fozan emphasises the potential for stronger client relationships and community value through expanded geographic coverage and enhanced service expertise. 🔹 Sustainable Growth: Pera highlights the benefits for clients, employees, and partners, including faster growth, sustainable investments in new services, and enhanced access to regional experts. This move aligns with KPMG's 'Global Collective Strategy,' which encourages the clustering of member firms to enhance consistency and quality. Earlier this year, KPMG UK and KPMG Switzerland merged to form a $4.4 billion partnership, further exemplifying this strategy. In the Middle East, KPMG is moving towards a governance model similar to its main rivals, such as Deloitte and PwC, which operate with a 'one firm' approach in the region. #KPMG #MiddleEast #Acquisition #Leadership #Growth #GlobalCollectiveStrategy

🌐 Breaking News: KPMG Joins Forces with KPMG US and KPMG UK Branches! 🌍 Exciting developments are underway in the consulting world as KPMG India announces its merger with key branches in the US and UK! 🚀 This strategic move isn't just about geographical alignment; it's about unlocking synergies and propelling growth in the global marketplace. By combining forces, KPMG India, along with its counterparts in the US and UK, is poised to leverage complementary strengths and expertise across diverse markets. This synergy translates into enhanced capabilities, streamlined operations, and a unified approach to client service delivery. One of the most significant advantages of this merger is the gain in market share. With expanded geographical reach and a broader spectrum of services, the integrated entity is set to solidify its position as a dominant player in the consulting arena. 📈💼 Clients can expect to benefit from a wealth of resources, deeper industry insights, and innovative solutions tailored to their specific needs. From strategy and digital transformation to risk management and beyond, the combined entity offers a comprehensive suite of services designed to drive tangible business outcomes. As KPMG India, the US, and the UK embark on this journey of integration, they're not just merging entities; they're forging a new path towards excellence and value creation in the global marketplace. 🌐💡 Stay tuned for more updates as we witness the transformational impact of this historic merger! #KPMG #Consulting #GlobalIntegration #Synergy #MarketShare #BusinessGrowth #Innovation

📣ANNOUNCEMENT📣 EY summarized key insights from 2023 for IT and tech-enabled M&A businesses. Learn how your business can prepare for future challenges and opportunities here: https://ow.ly/tt8z30sAnaP #EYCanada #MergersAndAcquisitions

📣ANNOUNCEMENT📣 EY summarized key insights from 2023 for IT and tech-enabled M&A businesses. Learn how your business can prepare for future challenges and opportunities here: https://ow.ly/mtPo30sAnCS #EYCanada #MergersAndAcquisitions

MENA dealmaking got off to a promising start in the first half of 2024, recording 321 M&A deals valued at US$49.2b. The insurance and real estate sectors were the most attractive to investors accounting for 47% of the total deal value. Furthermore, cross-border deals are on the rise as firms seek enhanced synergies and strategic growth. Find more insights from our latest EY MENA M&A Insights Report https://lnkd.in/dZ6PEBnw or reach out to our MENA M&A Leader, Anil Menon, for more details. #EYMENA #MergersAndAcquisitions #BetterWorkingWorld