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Partners at KPMG have reportedly begun discussing potential candidates to lead the UK business as current chief executive Jon Holt competes for the firm’s global leadership role, according to the Financial Times.
Holt, who has led the 16,000-person UK firm since 2021, is currently in a two-way race with global executive Gary Wingrove to run KPMG’s international operations.
While Holt’s UK term is scheduled to run until 2029, the FT has reported that a vacancy could be created as early as September if he is selected for the global position.
The outlet has learnt that internal discussions have identified several senior partners as possible contenders for the UK’s second-largest national firm, which reported approximately £3bn in revenue.
Potential candidates include: Lisa Fernihough, head of advisory and former chief people officer; Cath Burnet, head of audit, who is credited with stabilising the division following previous regulatory failures; Vicki Heard, head of tax and legal, whose division has performed strongly during the recent consulting downturn; and Callum Licence, a senior financial services board member noted for his work on the UBS takeover of Credit Suisse.
Other senior figures mentioned by partners include UK chief operating officer Chris Hearld, chair of the UK-Swiss board Melissa Geiger, and global head of deal advisory Liz Claydon.
Under Holt’s leadership, the firm reduced the number of equity partners to its lowest level in two decades and implemented cost-cutting measures.
According to the FT, if a vacancy occurs, the board will interview nominees before presenting a candidate for a partner vote.
This would mark the first leadership transition since 2021, when Bill Michael resigned following comments made to staff regarding pandemic working conditions.
The firm is expected to publish its financial results for the year to September 2025 this week.
KPMG has been contacted for comment.
