Private banks forced to focusAn international study carried out by KPMG and the University of St. Gallen shows that a high level of regulatory and cost pressure is forcing private banks to adopt new business models and clear client segmentation. Strong M&A activity in a volatile marketKPMG’s “M&A Yearbook Edition 2012” reveals that the number of mergers and acquisitions in Switzerland during 2011 increased by 20.6% to 316 (2010: 262 deals). At the same time, the overall volume of the transactions declined by 14.9% to USD 74.5 billion. Top personal tax rates remain stable worldwideAs KPMG’s most recent Individual Income Tax and Social Security Rate Survey shows, only 15 percent of the 96 countries surveyed worldwide have made changes to their rates of income tax. M&A activity highest since first half of 2008Swiss M&A activity continued to grow in 2011. According to figures published by KPMG and the University of St. Gallen, the first half of the year brought an increase in both the number and the value of transactions compared to the first half of 2010. KPMG supports the ETH Risk CenterKPMG, together with leading financial services providers and companies from other industries, supports the foundation of the “ETH Risk Center.” Profile of a fraudsterKPMG investigated 348 cases of fraud in over 69 countries in a broad-based study. The copious amounts of data gathered over the course of this study made it possible to draw up an average profile of a fraudster. KPMG strengthens its presence in BaselKPMG and some 80 employees in Basel are moving into new office facilities on Viaduktstrasse. The additional space and excellent access to public transportation lay the foundation for targeted improvements to the firm’s presence in Basel. Zurich prosecutor boosts strength of KPMG Forensic teamKPMG is augmenting the services it provides in the Forensic field: Arno Thürig, a longstanding prosecutor of white-collar crime in Canton Zurich, will be the new director in charge of Arbitration and Litigation Support and Crisis Management.
Swiss Corporates key to leading Global M&A recoverySwiss deal activity set to hit bottom in Q2/Q3 inline with global deal activity but specific factors could lead to faster recovery than expected in other European countries, claims KPMG's Global M&A Predictor.
CIS and Turkey to join KPMG Europe LLPVote to become part of Europe's largest fully integrated accountancy firm. The partners of KPMG CIS (Commonwealth of Independent States) and KPMG Turkey have overwhelmingly voted to join KPMG Europe LLP ('ELLP'). New Structure For KPMG AdvisoryKPMG has restructured its Advisory business division in order to cater for major changes in client requirements. Advisory will comprise three service groups: Performance & Technology, Risk & Compliance,Transactions & Restructuring. Regulation as a success factorIssues surrounding the right level and type of regulation are getting more and more attention, particularly in light of the current financial crisis. KPMG boosts revenue 3.5 percentKPMG Switzerland generated revenue of CHF 439 million during the business year ending September 30, 2009, a 3.5 percent increase over the previous year. Problems with growth, succession planning and riskMid-sized Swiss companies face ever-increasing regulatory demands, the push to open up new markets, globalization pressure, an active M&A environment, succession planning, setting up appropriate risk management. Personal income tax rates still trending down worldwideA global survey by KPMG on personal income taxation shows that maximum tax rates were
cut in 33 out of 87 countries between 2003 and 2008. Europe’s tax rates on personal income
remain the highest, while Latin America’s are the lowest. Solid growth for KPMG in SwitzerlandKPMG Switzerland generated net sales of CHF 375 million (gross: CHF 424 million) in the last financial year as of September 30, 2008, which is equivalent to a 7 percent increase. | 