KPMG partners voted to merge the professional services firm's U.K. and Swiss businesses, creating a unit with about $4.4 billion of revenue.
The new company will be led by KPMG's U.K. chief executive officer Jon Holt, while Stefan Pfister, currently the boss of the Swiss arm, will become deputy CEO. The combined firm, which was
"We will have the scale to significantly enhance our ability to deliver great outcomes for our clients both internationally and within our domestic markets," Holt said in a statement. "The U.K.'s services sector is in great health, and this merger is a vote of confidence in the strength of our professional and financial services sectors."
KPMG U.K., which has about 18,000 employees, reported £2.96 billion ($3.8 billion) in revenue in the year ended September 2023. The Swiss arm employs over 2,600 people and reported net revenues of 527.1 million francs ($576 million) last year.
