O’Connor, who took over from Bill Michael earlier this year on an interim basis following misconduct allegations, is currently undergoing discussions for her departure from the firm after being “unexpectedly passed over” for the senior position.
The firm recently appointed Jon Holt as the new chief executive after receiving “overwhelming support” in a partnership vote, and will hold the role until the end of September 2025.
Sky News revealed that a statement about O’Connor’s future at the firm could be made in the upcoming days.
She joined the group as its chief risk officer in 2018, before being promoted to the role of head of clients and markets in October 2020.
One KPMG partner told Sky News that if O’Connor did leave the firm, the “optics were far from ideal” especially given that she made firm history as one of the firm’s female leaders in its 150 year history .
KPMG declined to comment on the matter.