KPMG UK promotes 39 partners as it looks toward busy 2019

On the back of a year of expansion across the UK, KPMG has promoted almost 40 new partners and appointed over 100 directors across its British operations. The news comes as the Big Four firm prepares to push for growth amid business uncertainties relating to Brexit in 2019.

International professional services giant KPMG recently announced that it has moved its Global Family Business Centre of Excellence, focused on serving the different needs of family businesses, from Paris to London. The move came as the UK arm of the international network invests considerably in the family business consulting practice, offering access to the firm’s global resources in the area of family business development, with family businesses posting strong results, but facing the unknown effects of Brexit on talent acquisition as of next year.

At the same time, KPMG rejected offers for its restructuring business earlier in the autumn. The Big Four firm decided against pursuing an auction in order to maintain control of the unit, which advises clients on the handling of debt and equity-raising activities. Again, with uncertainty on the horizon, KPMG is aware that the wing represents a major asset as it looks to kick on in 2019.

With continued expansion, and an arms race with its rivals for expertise in full swing, KPMG has announced the promotion of 39 new partners and the appointment of 127 directors, demonstrating the opportunities on the table for professionals who look to make a career at the firm. Among the ascensions, KPMG promoted 11 new partners to its audit practice, another 11 to its consulting business and six to deal advisory. Meanwhile, eight other promotions were announced across tax, pensions and legal services and one for solutions and digital.

With regards to the diversity of these promotions, KPMG said 36% of its new partners were female, up from 29% last year, while 10% of the new partners hail from ethnically diverse backgrounds, while 39% of the directors were female – up from 32% in 2017 – and 15% came from ethnically diverse backgrounds. These are considered key demographic shifts, going forward, as once more professional services firms look to make themselves more attractive to aspects of the workforce they might previously have marginalised, as the talent pool of the UK shrinks amid closing borders and an ageing population.

Commenting on the news, Bill Michael, Chairman and Senior Partner at KPMG said, “These promotions signal the confidence we have in the firm and our capacity for growth. The market opportunity has never been greater. Assurance remains at the heart of our firm and this year we have strengthened our position as the largest auditor of FTSE 100 companies with success on a number of high profile tenders.”