KPMG Switzerland to merge with UK and German Firms

KPMG’s member firm in Switzerland has voted to join KPMG in the U.K. and Germany as part of the merger which will create Europe’s largest accountancy firm. The new single entity will be a member firm of KPMG International, the global network of professional service firms providing Audit, Tax and Advisory services.

The combined firm will have 18,000 partners and staff working from 57 offices across the U.K., Germany and Switzerland – with revenues in excess of £2.4 billion (Euro 3.5 billion) in the current year. The new firm will be a new U.K. registered LLP, with its head office in Frankfurt.

Partners of KPMG Switzerland approved the merger proposal at their meeting in Zurich yesterday. The Swiss vote is subject to approval from the new Swiss Federal Audit Oversight Board, expected by the Spring of 2008.

The Swiss partners’ vote is the latest stage in creating a fully integrated KPMG member firm in Europe. The ambition is that other KPMG member firms in Europe will merge into the new entity, should they wish to join. The new firm will be chaired jointly by John Griffith-Jones, currently Chairman of KPMG LLP (U.K.), and Prof. Rolf Nonnenmacher, currently Chairman of the Managing Board, KPMG Deutsche Treuhand-Gesellschaft AG.

The new firm will aim to recruit and retain the best talent, creating a training ground for the European business leaders of the future. It will offer integrated European graduate and other training schemes, and aim to create a culture in which our people will be offered new international opportunities, a compelling future, and a wide variety of cross-border challenges and experiences.