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Partners at KPMG UK have voted to back plans to retain and invest the financial proceeds made from the firm’s recent sales of its restructuring and pensions businesses.
The success of the vote provides KPMG UK with an additional £300m fund to invest.
The firm said the retention of the sale proceeds will see it invest further in its core services such as consulting, tax, deals and audit, and growth areas such as Environmental, Social and Governance (ESG) advice and digital transformation, where it sees “significant opportunities” to support clients and drive future growth.
Jon Holt, chief executive at KPMG in the UK, said: “Businesses are experiencing extraordinary levels of change as they adapt to the new market dynamics created by the pandemic. Many need to acquire new skills, new technology and new ways of working as they rebuild and refocus their operations to target new opportunities.
“We can play a crucial role to support them through this process. Our plans will enable us to turbo charge our investment in hot areas of the market like M&A, ESG, tax regulation and digital transformation, where we are seeing surging levels of demand from clients seeking our advice.”
He added: “This vote unites KPMG UK around a long-term strategic vision that will enable us to invest for sustainable growth and attract, develop and retain the best talent in the areas which are important to our clients.”
