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Big four KPMG is reportedly planning to combine its UK and Swiss businesses in an attempt to help boost the firm’s profits over the next few years, according to The Financial Times.
According to a source cited by the outlet, partners of the firm in both the UK and Switzerland were reportedly made aware the the two arms were in discussions last week.
Any move that would be subject to a partner vote would see the combined firm feature over 19,000 employees and revenues of over £3bn.
Fellow big four firm Deloitte made a similar move back in 2006 when it combined both its UK firm with a Swiss member, which now operates a combined partner structure.
In a statement to the FT, UK chief Jon Holt said: “We have started conversations with our Swiss firm to explore how working more closely together would bring greater benefits to our clients, people and partners.
“Bringing together our two firms would give us more collective power to invest, build new services for our clients and provide our people with significant global career opportunities. Together, we would grow faster, be more profitable and do so in a sustainable way.”
KPMG has been contacted for comment.
