Our story

Established in 1950 under the name “Butterfield & Steinhoff", KPMG was the first accounting firm in Bermuda to offer services to the international business community. In 1961 the firm brought Peat Marwick, Mitchell & Co. (PMM) one of the then-Big Eight firms, to Bermuda. In April 1987, PMM and all its worldwide offices merged with another large firm, KMG, to form KPMG.  


The letters that make up the name stand for the firm’s four founding members. The story behind each of those names provides a brief history of the firm and its development during the past century.



K for Klynveld.
Piet Klynveld founded the accounting firm Klynveld Kraayenhof & Co. in Amsterdam in 1917.

P for Peat.
William Barclay Peat founded the accounting firm William Barclay Peat & Co. in London in 1870. 

M for Marwick.
James Marwick founded the accounting firm Marwick, Mitchell & Co. with Roger Mitchell in New York City in 1897.  

G for Goerdeler.
Dr. Reinhard Goerdeler was for many years chairman of Deutsche Treuhand-Gesellschaft and later chairman of KPMG. He is credited with laying much of the groundwork for the KMG merger.