The partners of KPMG's member firm in Spain have voted to join KPMG Europe LLP alongside the U.K, Germany and Switzerland in a move which will enhance the merged firm's position as Europe's largest fully integrated accountancy firm.
The combined firm will have more than 23,000 partners and staff working from 75 offices across the four countries - with revenues in excess of Euro 4.2bn in 2007. Partners of KPMG Spain approved the merger proposal in a vote last Friday. The vote is subject to the agreement of the U.K, German and Swiss partners.
John Scott, senior partner for KPMG Spain, will join the KPMG Europe board. The Spanish partners' vote is the latest stage in KPMG's ambition to create the most fully integrated accountancy firm across Europe.
Rolf Nonnenmacher and John Griffith-Jones, joint chairmen of KPMG Europe LLP, said: "We warmly welcome the decision of our colleagues in Spain to join the KPMG merger in Europe. Their decision to join builds on the foundations formed when the UK, Germany and Switzerland member firms agreed to merge and we are delighted that they wish to become part of our ambition to create the most successful professional services firm in Europe, for the benefit of both our clients and our people. We look forward to other member firms joining in due course."
The Spanish practice of KPMG has grown very successfully over the last three years. In the year to September 2007, revenues were Euro 175m. John Scott added: "This move is a definitive step in our goal to consolidate our reputation as employer of choice. It will increase our ability to recruit and retain talent, will develop wider career opportunities with more options to participate in cross-border projects, and will promote deeper knowledge sharing. Consequently, our capabilities to add value to our clients will enhance our competitive advantage and market leadership."
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KPMG is the global network of professional services firms who provide audit, tax and advisory services. KPMG LLP operates from 22 offices across the UK with nearly 11,000 partners and staff. KPMG in the UK recorded a turnover of £1.6 billion in the year ended September 2007. KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative.