KPMG’s getting married. To itself. KPMG UK’s 833 equity and salaried partners and 17,239 employees will be joining forces with KPMG Switzerland’s 2,603 employees and ?? partners to form a $4.4 billion MechaKPMG.<\/p>\n\n\n\n
They’re doing this because according to them:<\/p>\n\n\n\n
\nIn a fast-paced, globally focused business environment driven by new technology and increasing regulatory complexity, clients\u2019 needs have also evolved. To meet these, both firms will bring their complementary strengths and technology solutions together to enhance the range of services offered across audit, tax and legal, and advisory. With a wider geographic coverage, the new firm will be able to expand its service and sector expertise complementing the already deep local market understanding for its national and international clients.<\/p>\n<\/blockquote>\n\n\n\n
Partners at both firms voted “overwhelmingly” for the merger. “This will make the firm the second largest in the KPMG network by some distance,” said the press release<\/a>.
That distance being about $32 billion behind KPMG US’s $36 billion in revenue<\/a>.<\/s> [disregard, we’re dumb and used global revenue here]<\/p>\n\n\n\nYou may recall a dubious rumor floating around last year that KPMG US, UK, and India were exploring merging their advisory practices<\/a>. After we included a link to an Economic Times<\/em> of India story about so-called Project Himalaya, this was quickly debunked by a KPMG spokesperson who reached out to us saying “KPMG is a network of member firms, which are independent of each other. We are, as always, focused on opportunities for greater collaboration within our existing India-based client delivery network.” <\/p>\n\n\n\n